Management Review ›› 2026, Vol. 38 ›› Issue (5): 263-273.

• Case Studies • Previous Articles    

Research on the Path to Key Technology Breakthroughs in Hard-tech Enterprises Based on the Multiple Helix Innovation Theory

Wang Song1, Yu Mei2, Wang Shouyang1, Bian Jiangze2   

  1. 1. School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190;
    2. China School of Banking and Finance, University of International Business and Economics, Beijing 100029
  • Received:2025-02-26 Published:2026-06-06

Abstract: Overcoming the "bottleneck" constraints in the high-end equipment manufacturing industry chain is crucial for China to achieve technological self-reliance and strength. Based on the Multiple Helix Innovation Theory, this paper takes the high-end equipment manufacturing enterprise Beijing Jingyi Equipment Technology Co., Ltd. as the research object to explore its pathway and mechanisms for breaking through core key technologies and achieving domestic substitution. By constructing a theoretical analytical framework for hard-tech enterprise innovation, it extends and enriches the Multiple Helix Innovation Theory. The paper clarifies the new ecological relationships within the multi-level sci-tech finance ecosystem of "universities-industry-government-venture capital-banks-other financial institutions-capital market" that drive the development of hard-tech enterprises. This provides an in-depth analysis for the sustainable innovation of high-end equipment manufacturing enterprises and also offers reference and new perspectives for similar enterprises to achieve breakthroughs in key core technologies.

Key words: hard-tech, key core technologies, Multiple Helix Innovation Theory