‘Bean Sprout Expert’ Profitably Monetizes Intellectual Property

Dr. Do Ngoc Chung shared information about a research project that aimed to produce clean bean sprouts from green beans, starting at a price of 30,000 VND per kilogram. The project was successful in generating hundreds of billions of VND in revenue. Dr. Chung emphasized the importance of applying scientific results to the market to create value and profits. His success story as a startup entrepreneur showcased the journey of turning intellectual property into profitable products.

Dr. Chung’s innovative idea of creating a fully automatic bean sprout growing device without the use of chemicals began in 2013. Despite facing 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 highlighted 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.

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