More than Triple Helix
When University, Government (the Public Sector) and Industry work together it is normally referred to as the ‘Triple Helix’. This alliance is essential to the ecosystem we have built up. Players from different disciplines and fields can exchange ideas and work together to create value-add for all involved. Ultimately there is a greater goal – to provide a healthier and better life for many.
Medicon Village has researchers, innovators, and entrepreneurs as well as organisations from the public sector. Among the 120 companies and organisations, there are a number offering support services, for example, in finance, legal and marketing to help members get to grips with various business aspects and attain their targets. The insights from the support services can also help at the product development stage. Better and broader input at the early stage of development is likely to result in a more successful end product, whether it is a new drug or a new service.
The ecosystem for innovation
Medicon Village is designed to generate an unbroken chain from idea or concept to finished product, in other words, a complete ecosystem for innovation. The process can be broken down as follows:
- There is a desire or need to develop a method, technology or product. It may come from the healthcare sector, the public sector or direct from a specific hospital.
- Researchers happen to be already working on this question at university level.
- Medicon Village provides a point of contact and a matchmaking service so that the right people from university, the public sector and industry can get together and form some sort of structure (for example, a company) to develop the concept.
- A company in the early stages of development can ask to move into SmiLe Incubator, the incubator at Medicon Village, to get support and help it to grow.
- Help with development and other services can be provided by one of the 70 or so companies at the Medicon Village business-to-business unit. Through the Village, a small company has all the advantages of the big ones at its disposal.
- The company/structure will also have access to rooms, laboratories, lab equipment, etc.