Abstract
Globalization accelerates the flow of knowledge, capital and human resource around the world, as a result, enterprises currently are more and more difficult in inventing new technologies and developing new markets independently due to the increasing R&;D expenses and decreasing dominate power of intellectual property rights. These impacts have already had a significant influence to the traditional industries in Taiwan. Thus, it becomes an important aspect to sustain the competitiveness of it. In this paper, we shall first briefly introduce the concept of open innovation and new venture development strategy. Upon these foundations, we focus on how Formosa Taffeta Company Ltd., one of the largest textile companies in Taiwan, formed an alliance with other companies of different industry to develop CFRP and Pre-type jacket technologies together. Moreover, we research what is the best strategy for its new business department to develop in the new market. In this paper, the research framework will be followed by four sectors: (1) technology innovation; (2) business model; (3) marketing strategy and (4) government policy and legislation. By interviewing with more than ten engineers, scholars, managers and government workers, we had a general realization on the industry background and some possible ways to go in the future; in the end, we generalized these points of view and propose our conclusion and suggestion. There are several findings concluded in this paper: (1) Pre-type jacket method should be able to resolve other possible problems during the construction; (2) Formosa Taffeta Co. should focus on the partner relationship with up-stream and down-stream companies and establish new business department for carbon fiber; (3) The new market could be segmented into three segments, under a advice that a pilot pioneer project of CFRP should be held on public construction; And (4) The alliance should promote this technology with other companies and association, some proper institution should be established to normalize the government laws. The main contribution of this paper is we suggest a possible strategy for a Taiwanese traditional industry on how to develop new venture with the concept of open innovation. Moreover, we also devoted to clarify some ways of innovation during the process of technology commercialization