Toward a new paradigm of technological innovation: convergence innovation

This paper aims at creating knowledge value-added by exploring, and understandingknowledge about the causes, processes, and patterns of convergence innovation through areview of eight papers included in this issue. It argues that the process of convergenceinnovation is a continuous disequilibrium between reference technology and its matchingtechnology, which adjusts optimal balance between the functions of the two technologies. The process of convergence innovation is also featured as a learning process that requiresboth vertical and horizontal convergence. Types of convergence innovation such as outsideinand inside-out, depending on market situation are discovered in some case explorations. Convergence innovation has been taking place mainly by applying IT technologies to vastareas of conventional technologies. This is because individuals or firms get benefit from theconvergence between IT and conventional technologies. Such innovations made possible byconvergence ultimately improve the welfare of human beings as companies can solvediverse problems or increase employment. Many examples are found in Asian industries, forinstance, biochemical companies of Indonesia were able to increase their market shares inbiofertilizer and biopesticide products through bio-based technological convergence. Textilemachinery firms of Korea have survived by achieving convergence innovation on their corecompetences.