Augmenting commercialization of new technology intensive firms

Abstract

Technology licensing and commercialization has increasingly been looked at as a complementary and attractive solution to gain insights into new technology innovations and market products. Stories of successful research commercialization programs from Silicon Valley have become the catalyst that encourages states to provide incentives and established structural reform in the form of state controlled agencies to accelerate and assist the commercialization of potential R&D products. Considerable debate has arisen about the effectiveness of those agencies, but asides for a few lone voices, the scholarly literature has largely neglected the views of grant recipients in commercializing of scientific research. This study hopes to shed some understanding of the impediments that grant recipients face in their endeavor to commercialize scientific research. Qualitative data examination utilizing theme analysis was performed and three main determinants were identified: human resources, market penetration, and financial constraints. We believe these three determinants have wider implication to the modern regime of commercialized scientific research