Commercialization of innovations: an overarching framework and research agenda

Abstract

Purpose -The commercialization of innovation, which is key to entrepreneurial success, is a combination of several entrepreneurial activities. Building on research from fields of management, strategy, entrepreneurship, economics, and marketing, the paper summarized the extant literature to develop a framework of commercialization and an agenda for future research. The paper aims to discuss these issues. Design/methodology/approach -Extensive review of literature, which was comprised of 194 articles across 62 journals in the fields of management, strategy, entrepreneurship, economics, and marketing, Findings -The literature was categorized into six broad themes of entrepreneurial activities: sources of innovations, types of innovation, market entry (capabilities and feasibility), protection, development, and deployment. Most of the research papers that were reviewed were concentrated on single theme. Practical implications -Given the identification of six key themes of entrepreneurial activity leading to the commercialization of innovations, research questions were posed as a means to move the research forward by integrating the themes. Originality/value -This is the first paper in its kind to integrate 194 papers from 62 journals to provide a comprehensive framework of commercialization of innovations.

Copycats vs. Original Mobile Apps: A Machine Learning Copycat-Detection Method and Empirical Analysis

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A Comparative Study of Teachers’ Perspectives about Commercialization of Education at Elementary Level in Punjab

“…Gbadegeshin (2017) indicated that "plan is always a plan" and that plan would change during the spin-off creation process. Commercialization involves six channels of entrepreneurial actions leading to sources of innovations, classification of innovation, market capacity, protection, advancement, and deployment (Datta, Reed & Jessup, 2013). Pellikka and Malinen (2014) showed that business models create operative commercialization process which assists individuals to plan the active delivery system through the research and development process phases.…”

Commercialization of innovations by hi-tech knowledge-intensive enterprises

“…Also some external factors, including the characteristic regional heterogeneity, caused by the differences in the available resources, economical geographic location, conditions of the scientific and technological sphere and so forth, influences the choice of the business strategy of the enterprises in the competitive environment. Therefore it is necessary to choose the way of commercialization and the completion stage of the project, which are the most suitable for the current situation, considering some factors: type and the field of the use of the innovation, size and possibilities of the enterprise, the purpose and activity, the position in the competitive environment, some other factors [4].…”