Commercialization cycle of entrepreneurial ideas in high-technology firms

Commercialization of entrepreneurial ideas in high-technology firms causes a competitive advantage for companies and the economic development of societies by creating innovative products and delivering value to customers. However, there is a gap in identifying the commercialization cycle of entrepreneurial ideas in high-technology firms.

The study was conducted to present the commercialization cycle of entrepreneurial ideas in high-technology firms.

This is an applied study in terms of purpose. The study has collected research data through the meta-synthesis method of Sandelowski and Barroso. This method has been done by a systematic review of 20 articles related to the research purpose among 397 initial articles. The final papers were selected based on the inclusion criteria. The validity of the research was confirmed according to the inclusion criteria, holding meetings by the research team, using an expert, and auditing the whole process for theoretical consensus. Reliability was also determined through Critical Appraisal Skills Program.

The commercialization cycle of entrepreneurial ideas in high-technology firms includes three categories of commercialization stages, achievements of each stage, and feedback. The four stages of the cycle comprise creation and selection, production of high-technology innovative product/service, releasing of high-tech innovative product/service, and Modifying or developing an entrepreneurial idea. Achievements of each stage consist of idea creation and high-technology selection, creating a high-tech product/service, creating value, and the creation of entrepreneurial ideas. Feedback also includes all the steps.

The commercialization cycle of entrepreneurial ideas in high-technology firms helps to transform entrepreneurial ideas into high-tech products/services and create value for stakeholders.