Accelerating Research Innovation by Adopting the Lean Startup Paradigm

The Effect of Digitalization on the Commercialization Process of High-Technology Companies in the Life Sciences Industry

“…Additionally, an iterative and lean process will be needed for the discovery and commercialization of new technologies. Thus, an iterative and lean process paves the way for rapid commercialization (Gbadegeshin 2017a(Gbadegeshin , 2018Gbadegeshin & Heinonen, 2016) by shortening the duration of the process, which is essential for the current high demand for commercialization of innovations or inventions (Still, 2017). Furthermore, if the influences of digitalization on official processes, big data, workloads, and digital fears continued, as Tihinen and Kääriäinen (2016) and Parviainen and colleagues (2017) noted, these influences would change the business models of the life sciences industry and soften government regulations.…”

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“…Commercializing scientific expertise that has been developed over a period of time is for developing and sustaining new and old businesses (Still, 2017). Similarly, transforming new technologies that have been developed from series of research and development investments is an important source of income for companies and government (Cornford, 2002;Gibson & Naquin, 2011;Hindle & Yencken, 2004).…”

“…Hence, converting inventions or innovations into consumable products and services is part of the third mission of universities, after teaching and research (Clark, 1998;Etzkowitz et al, 2008;Foss & Gibson, 2015;Guerrero et al, 2016). Making new technologies available and acceptable in marketplaces (Tanev & Frederiksen, 2014) requires the creation of new businesses, the revamping of existing enterprises, and the employment of people (Gbadegeshin, 2017a, b;Still, 2017). Therefore, the commercialization of high-technologies is crucial for economic development (Banerjee & Cole, 2011;Baptista & Preto, 2011).…”

“…Presently, there is pressure on research institutes and their scientists to commercialize innovations due to limited funding for basic research. Therefore, searching for new means of commercialization is essential (Gbadegeshin, 2017a; Still, 2017). Here, we examine on such means, which is the application of the lean/agile methodology to commercialization activities (Apilo et al, 2015;Gbadegeshin, 2017a;Kruuti, 2016).…”

Lean Commercialization: A New Framework for Commercializing High Technologies

“…One of well-known lean/agile approaches is the lean startup methodology. It was propounded by Ries (2011) and it has been applied by scholars in various contexts, such as healthcare (e.g., Gaffney et al, 2014;Silva et al, 2013), biotechnology (e.g., Shimasaki, 2018;Kruuti, 2016;Grohn et al, 2015), education (e.g., Tran, 2015;Youtie & Shapira, 2017), research (e.g., Still, 2017), technology-based ventures (e.g., Harms et al, 2015), and information and communication technology (e.g., Gbadegeshin & Heinonen, 2016;Ibba et al, 2018;Miski, 2014).…”