Turning Intellectual Property into Profitable Products: Dr. Chung’s Journey as a Startup Entrepreneur

Dr. Do Ngoc Chung shared information about a successful research project that aimed to produce clean bean sprouts from green beans at a price of 30,000 VND per kilogram. The project generated hundreds of billions of VND in revenue, showcasing the importance of applying scientific results to the market to create value and profits. As a startup entrepreneur, Dr. Chung’s journey demonstrated how intellectual property can be turned into profitable products.

In 2013, Dr. Chung began his innovative idea of creating a fully automatic bean sprout growing device without the use of chemicals. Despite initial challenges in securing funding for his research, he was able to establish a successful company focused on producing bean sprout making equipment for households. By continuously innovating and launching new products derived from clean bean sprouts, Dr. Chung was able to increase the value of his goods and generate significant profits.

To protect his intellectual property, Dr. Chung emphasized the importance of registering for protection and connecting with implementing units. He also stressed the need to analyze market potential and utilize technology and innovation to stay competitive in the market. Dr. Chung’s technology and intellectual property are now available on the IPPlatform platform, which connects intellectual property rights holders with incubators, startup support centers, and businesses in the innovative startup ecosystem.

Experts and scientists shared their experiences in identifying intellectual property for startup activities at a conference organized by the Institute of Intellectual Property Science. They discussed ways to support incubation, investment, and technology transfer for innovative startups, promoting the commercialization and value of intellectual property by fostering connections between rights holders and businesses. Director Ta Quang Minh emphasized the importance of utilizing platforms like IPPlatform to bring intellectual property into business activities and maximize its potential.

Overall, Dr. Do Ngoc Chung’s success story as a startup entrepreneur showcased how intellectual property can be transformed into profitable products through innovation and continuous improvement