In a forum hosted by Taiwan's Industrial Technology Research Institute (ITRI), Biing-Jye Lee, chairman of Taiwan-based LED chipmaker Epistar, emphasized the importance of innovation and that firms should start by solving customer problems.
According to Jyuo-Min Shyu, president of ITRI, industries need to own key technologies and create product value to compete with international firms. Firms should not solely depend on resources of a single firm, but should cooperate with technology research institutes to achieve innovation and maximize benefits.
Epistar was founded with the help of adopted technology from ITRI. In addition, through the integration of funds from up- and downstream LED firms conducted by ITRI, Epistar was formed. ITRI has also been participating in Epistar's R&D and volume production of red and blue LEDs.
Lee added that since the establishment of Epistar, the firm has applied for thousands of patents, but it is only meaningful when firms turn patented technologies into products. These patents have not been used as tools to engage in patent wars, said Lee. Innovation should be based on solving the problems of clients such as providing the easiest way for traditional lighting firms to adopt solid state lighting technologies and produce LED products, Lee noted. In addition, Taiwan-based firms have been emphasizing horizontal distribution of labor, therefore firms have been focused on business strategies for a single segment. Taiwan-based firms should adopt new strategies formed from the angle of the entire supply chain, Lee stated.
In the long run, firms should know that the strategies adopted today can have effects over the next 20 years, said Lee.
