Commercialization in Innovation Management and Introduce Major Commercialization Models for High Tech Industries

Today, the biggest challenge which researchers, companies and investors are faced with is how and by using which strategies they can make new science and technologies profitable. So we should find the problem in commercialization process and state of the opportunity exploitation. The decision of the “right” time to exploit opportunities is an important one in creating a successful business. Commercialization is the important part of innovation process and it’s an inevitable phase of idea to the market journey for every products. Commercialization is an attempt to profit from innovation by incorporating new technologies into products, processes, and services and selling them in the marketplace. For many new technologies, commercialization implies scaling up from prototype to volume manufacturing and committing greater resources to marketing and sales activities. Commercialization strategies indicate different ways of exploitation of researches and technologies that researchers and start-up companies need them for transferring knowledge from concept to the market. On the other hand, decisions to commercialize new technology are closely linked to characteristics of the innovation system in which the firm operates. Choosing a proper Commercialization strategy and also a model is one of the most crucial decisions a firm makes in terms of its ability to profit from technologies developed within the firm. In this article, we define commercialization process and the importance of this issue. Then we introduce some models and strategies used for technology commercialization.