Traveling through time and space.

Chapter 253: Internationalization Strategies of Genetic Testing Technologies of Biotechnology Companies

Mu Yang took a break from the hustle and bustle of developing the entire animation IP industry chain for his cultural company. Watching his company's thriving animation industry, he felt a sense of accomplishment. However, he knew there was still a vast new world to explore in the boundless field of biotechnology. At a critical stage in the biotech company's technological maturity and expansion into international markets, the implementation of an international strategy for genetic testing technology presented a crucial opportunity for the company to enter the global arena. With a sense of mission in advancing this internationalization strategy, Mu Yang embarked on a journey to an international biotech exhibition, determined to carve out a new niche for his biotech company in the international market.

Mu Yang arrived at the International Biotech Expo, a bustling scene where biotech companies from around the world gathered to showcase their cutting-edge technologies and innovations. The organizers were enthusiastic about the success of the show, bustling between the various booths to ensure everything ran smoothly.

"Mr. Mu, welcome to our exhibition! Your company's genetic testing technology has always attracted much attention. We look forward to bringing new surprises to everyone this time." The exhibition organizers warmly welcomed Mu Yang.

Mu Yang responded with a smile: "Thank you very much. We also hope that through this exhibition, the world will understand our genetic testing technology and expand international cooperation opportunities."

The biotech company's booth, with its simple yet technological design, attracted numerous attendees with its advanced genetic testing equipment and detailed descriptions of its testing services. Mu Yang stood in front of the booth, interacting with consulting professionals and potential partners.

At this moment, a representative from an overseas research partner institution approached, his eyes revealing anticipation for collaborative research. "Mr. Mu, we are very interested in your company's genetic testing technology. Our institution has a strong research foundation in gene editing, and we hope to collaborate with you to jointly conduct cutting-edge research in genetic testing technology."

Mu Yang said excitedly, "This is a very good proposal! We are also eager to cooperate with top international scientific research institutions to jointly promote the development of genetic testing technology. However, in international cooperation, the ownership of intellectual property rights and the distribution of benefits are very important issues. We hope to clarify the rights and interests of both parties in scientific research results and the distribution of benefits in future commercial applications before cooperating."

The two parties engaged in in-depth discussions on the details of the collaboration and, after multiple rounds of negotiations, ultimately reached an agreement on intellectual property ownership: the research results generated by the collaboration will be jointly owned by both parties, with both institutions cited in published research papers and patent applications. Regarding profit distribution, the proportion of future commercial applications will be determined based on the respective contributions to the research.

As the exhibition progressed, the contradiction between the high costs of international market expansion and short-term returns became increasingly apparent. The staff responsible for exhibition preparation approached Mu Yang with concern: "Mr. Mu, the cost of participating in this exhibition is as high as [X] million yuan, including booth rental, equipment transportation, and personnel travel. Furthermore, to promote our genetic testing technology internationally, we will need to invest a significant amount in market research and advertising. At this point, it's difficult to see a significant return on investment in the short term."

Mu Yang pondered for a moment and said, "I understand everyone's concerns, but international market expansion is our company's long-term strategy. Although the initial investment is large, in the long run, once we gain a foothold in the international market, it will bring huge market space and brand influence. We must rationally plan funds, optimize promotion strategies, and improve the input-output ratio. At the same time, we must actively communicate with potential customers and partners to accelerate the pace of market expansion."

To promote the application of genetic testing technology in foreign medical institutions, Mu Yang visited foreign medical institutions and met with their leaders. The leaders of foreign medical institutions were both cautious and excited about the introduction of new technologies. They asked in detail about the accuracy, reliability, and clinical application cases of genetic testing technology.

"Mr. Mu, if genetic testing technology can be applied in our medical institution, it will bring more accurate medical services to patients. But we are also very concerned about the safety and stability of the technology. After all, it is related to the life and health of patients." The head of the medical institution said seriously.

Mu Yang answered seriously, "Your concerns are completely reasonable. Our genetic testing technology has undergone rigorous experimental verification and extensive clinical practice, and is highly accurate and reliable. We can provide your institution with detailed technical information and clinical cases, and arrange for professional personnel to provide technical training and guidance. At the same time, we will establish a long-term cooperation mechanism to jointly track patient treatment outcomes and continuously optimize technology and services."

However, during the collaboration process, the differences between China's biotechnology culture and the scientific research and medical cultures of different countries gradually emerged. Foreign medical institutions have stricter requirements for data privacy protection and ethical review, which differ from domestic standards.

"Mr. Mu, our country has strict legal provisions on patient data privacy protection and ethical review. We need to ensure that during the cooperation process, all data processing and testing processes comply with our regulatory requirements." The head of the medical institution emphasized.

Mu Yang responded: "We attach great importance to data privacy protection and ethical review. We will set up a dedicated team to study your country's regulations and policies, adjust our work processes and standards, and ensure full compliance with the requirements. At the same time, we will establish strict data encryption and access control mechanisms to ensure the security of patient data."

Through a series of efforts, the biotechnology company has achieved fruitful results at international biotechnology exhibitions. It has also reached cooperation agreements with multiple overseas research institutions, taking a significant step forward in cutting-edge research in genetic testing technology. It has also established preliminary cooperation intentions with foreign medical institutions, laying the foundation for the local clinical application of genetic testing technology.

"I feel extremely proud to see the company making its mark on the international stage. Our internationalization strategy for genetic testing technology has achieved initial results, but this is just the beginning. In the future, we will continue to increase investment in research and development, improve our technological level, and expand the international market. We plan to establish cooperative relationships with more international scientific research institutions and medical institutions in the coming year, promote genetic testing technology to more countries and regions, and promote the exchange and integration of global biotechnology culture." Mu Yang said proudly at an internal company meeting.

In the days to come, Mu Yang will continue to lead the biotechnology company to forge ahead on the road to internationalization of genetic testing technology, enhance the company's position in the international biotechnology field, and contribute more to the development of global biotechnology.