Advantages of the collaboration were:
1. Reduce time to commercialese: They fore sore a potential competitor entering the market and saw the opportunity to be the first to commercialese. In addition, the group production come out product fast and shorten cycle time.
2. Knowledge Sharing: Both complimented each other. Iddan was technical but lacked the science required to implement in the medical industry, Dr Swain’s ...view middle of the document...
Collaboration contributes positively in enhancing efficiency and success rate by sharing different technology and idea.
3. Reduce risk: Share the development cost of the project, utilize each other’s resources and infrastructure, to some extent also reduce the risk of working separately. And supervise and urge each other so that reduce the rate of production accident.
4. To develop a medical product you must be certified to do so, not just anyone can do this, a collaborating managing team is needed. And the same direction and goals, the same manage model with same operating standards are required to ensure the smooth progress of production. So Iddan working with Dr Swain’s team was able to get a direct path to commercialization with administration hurdles.
5. Firms spend significantly more on R&D which is considered a primary driver of innovation, it works well on break the limitations of individual innovation by mastering the market environment and the developing direction.
6. Collaborative networks are particularly important in high-technology sectors.
It has significant effect on shortening the time of overcome technical bottlenecks.