2024 marks the 10th anniversary of the construction of the Shanghai International Science and Technology Innovation Center. By 2023, the investment in basic research in Shanghai will increase to more than three times that of 2013; The initial fundraising amount and total market value of the Science and Technology Innovation Board rank first in the country; Technological innovation has helped Shanghai's economy break through the 4 trillion yuan mark... Breaking through the "no man's land" of basic research, creating an ecological field of institutional and mechanism reform, and cultivating new quality productivity in future industries, Shanghai is accelerating its transition from "building a framework" to "strong functionality" and moving towards the next decade of building a strong technological country. Technological innovation is the primary driving force behind high-quality economic and social development. Only by efficiently and smoothly promoting the transformation of technological achievements can knowledge capital truly become an inexhaustible driving force for development. From a national perspective, universities, research institutes, and enterprises in various regions have made positive progress in the transformation of achievements, but there are still many high-quality achievements that remain at the laboratory level due to "poor mechanisms, unclear policies, and funding shortages", becoming "dormant" scientific and technological achievements. How to broaden the channels for the transformation of scientific and technological achievements in the new era, and make these valuable achievements generate greater value, has become a key proposition to help high-level scientific and technological self-reliance and promote the construction of a strong country in science and technology. Improve the quality of supply and make original achievements easier to break free from the cocoon and become butterflies. Whether the transformation of achievements can be implemented depends on whether the "source" can continuously output high-quality results. Combining industry pain points with cutting-edge technology, explore the dual driving model of "demand orientation+potential foresight". When conducting scientific research projects, industry and research institutions should establish a regular communication mechanism to share relevant information on industry demand and technological development, and reserve certain resources for future emerging fields. Establish an "iterative" outcome evaluation and incubation mechanism, introduce dynamic evaluation, emphasize early market validation and commercial potential of outcomes, and provide support for early technologies through hierarchical incubation. In addition, we should promote the coupling mechanism of "enterprise forward movement+scientific research backward movement", allowing universities and enterprises to interact with each other in the early stage of research and development, setting up "guidance signs" and "red light zones" for technical solutions, and accelerating the industrialization process of scientific research achievements. Improve the policy system and build a bridge from "paper" to "implementation". The transformation of scientific and technological achievements involves multiple links such as scientific research project approval, fund management, equipment procurement, achievement evaluation, property rights confirmation, and income distribution. Only through interlocking and solid promotion can paper achievements be "implemented and generate funds". Currently, although China has introduced multiple laws, regulations, and supporting documents to promote the transformation of achievements, and explored specialized regulations in some regions, in practice, some researchers still have concerns about the effectiveness and predictability of policy implementation due to the lack of clear operational guidelines. To this end, efforts should be made from two aspects: on the one hand, further simplifying and refining the transformation process, fully utilizing existing reform measures, effectively delegating approval autonomy, and enabling universities, research institutes, and even researchers to "understand and operate at a glance". On the other hand, strengthening the combination of supervision and accountability with due diligence and exemption from responsibility, providing clear institutional support for those who dare to take risks and make mistakes, and encouraging them to be brave and responsible. Only by bridging the "intestinal obstruction" between "paper" and "implementation" can research institutions use public resources with confidence and efficiently transform their achievements into practical productivity. Give full play to professional strength and promote the transformation of scientific and technological achievements from "fighting alone" to "ecological co construction". The transformation of achievements often requires multiple connections between technology and market, scientific research and law, laboratories and investment and financing. In addition to policy support, it is also necessary to create a collaborative and interconnected professional service ecosystem. The platform system requires a systematic layout. Support universities and research institutes to establish "graded incubation" and "concept verification" centers, providing small-scale experiments and market testing for early technologies; For mature projects, support the co construction of transformation platforms or accelerators with social capital, providing full process support from prototype polishing to market promotion. Talents and capital need to collaborate deeply. In the cultivation of technology managers, attention should be paid to intellectual property layout, business model design, and investment and financing strategies, in order to build a "cross-border" team of technology managers; The government and social organizations can also introduce angel investment and "patient capital" through models such as "parent fund+sub fund", cooperate with professional evaluation agencies to strictly control risks, and enable potential achievements to smoothly cross the "valley of death". Optimize incentive mechanisms and make 'more capable' a clear direction. The main actors in the transformation of technological achievements are researchers. Only by making them dare to think, dare to fight, and dare to do, can we stimulate sustained enthusiasm for innovation and entrepreneurship. We should adopt a dual approach of incentives and constraints, and establish clear "interest navigation marks" and "responsibility red lines" for scientific research teams, managers, and other entities. Promote the "technology equity+installment payment" model, fully empower research and development teams with breakthrough achievements in property rights and profit distribution, encourage them to have greater autonomy in decision-making, and enable researchers to truly enjoy the dividends of innovation; And it can also pilot the "conversion and investment system", allowing research teams to reinvest a portion of their research funds or equity returns, continuously empowering subsequent research and incubation. Add an independent indicator of "conversion performance" in professional title evaluation, project approval, and talent selection, closely linking the conversion effect with the career development of scientific researchers, and forcing the team to focus on tackling "real problems". At the same time, by providing sufficient space for failure or trial and error in basic research, pilot testing, and other stages through "due diligence exemption+responsibility constraints", personnel are given more courage and determination to innovate and explore. Strengthen collaborative interaction and enable 'dormant' technological assets to find their place of use. Technological innovation has always been a systematic project that involves the deep integration of academia, industry, and government. Only with the cooperation of all parties can research achievements with enormous potential truly be fully utilized. We should advocate the thinking of "cross subject community". Support the formation of industry alliances and interdisciplinary expert teams, improve the "unveiling and leading" mechanism, encourage corporate executives, technical backbones, and university research teams to form flexible project teams, and carry out joint research and demonstration promotion. Deepen the dual wheel drive of "scene traction+capital leverage". Expand public application scenarios in key areas or industries, allowing technical teams to quickly "test the waters" and iterate upgrades; Encourage financial institutions to intervene in the "industrial chain finance+achievement guarantee" model, provide special bonds or risk sharing funds for technologies with high potential commercial value, tap into more patient capital to "invest early, invest small, and invest hard", and enable more high-level scientific research achievements to "break free from the cocoon and become butterflies", bringing benefits and advantages to social production and life. (Xinhua News Agency) Authors: Chan Jian and Zhang Li (respectively Assistant Researcher at the Innovation Evaluation Institute of the China Association for Science and Technology Innovation Strategy Research Institute, Deputy Director and Researcher at the Innovation Evaluation Institute of the China Association for Science and Technology Innovation Strategy Research Institute)