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Toward a new paradigm of technological innovation: convergence innovation
- Toward a new paradigm of technological innovation: convergence innovation
- Lee, Kong Rae
- DGIST Authors
- Lee, Kong Rae
- Issue Date
- Asian Journal of Technology Innovation, 23, 1-8
- Article Type
- This paper aims at creating knowledge value-added by exploring, and understanding knowledge about the causes, processes, and patterns of convergence innovation through a review of eight papers included in this issue. It argues that the process of convergence innovation is a continuous disequilibrium between reference technology and its matching technology, which adjusts optimal balance between the functions of the two technologies. The process of convergence innovation is also featured as a learning process that requires both vertical and horizontal convergence. Types of convergence innovation such as outside-in and inside-out, depending on market situation are discovered in some case explorations. Convergence innovation has been taking place mainly by applying IT technologies to vast areas of conventional technologies. This is because individuals or firms get benefit from the convergence between IT and conventional technologies. Such innovations made possible by convergence ultimately improve the welfare of human beings as companies can solve diverse problems or increase employment. Many examples are found in Asian industries, for instance, biochemical companies of Indonesia were able to increase their market shares in biofertilizer and biopesticide products through bio-based technological convergence. Textile machinery firms of Korea have survived by achieving convergence innovation on their core competences. © 2015 Korean Society for Innovation Management and Economics (KOSIME).
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- Department of Convergence ScienceManagement of Innovation Program1. Journal Articles
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