Research of the commercialization processes success in the countries of the world

Abstract

In current conditions, the success and practical implementation of innovative ideas, i.e., their commercialization, is becoming one of the factors enhancing the competitiveness of enterprises and countries. Accordingly, the objective of the paper is to determine a set of indicators that can characterize the level of innovation commercialization in the world based on a investigation of global ranking indicators of innovation. Taking into account this aim, the Global Innovation Index, which shows innovative activity in countries is considered in this paper. According to the indicators that can be considered as measures of the success of the commercialization of innovation, the following of them are identified: 1) the intensity of gross expenditure on R&D; 2) the intensity of the government expenditure on education; 3) patent activity (PCT patents by origin/bn PPP$ GDP); 4) the share of the high-tech products exported; 5) the share of science-intensive services exported (ICT services export); 6) the share of knowledge-intensive employment. According to this, the authors analyzed 13 countries using the selected indicators. In terms of these indicators, Sweden has the best position. During the three analyzed years (from 2019 to 2021), this country ranked first in terms of innovation in general. Regarding indicators that show the success of commercialization processes, Sweden also has a leading position. It takes the 2nd place in total gross expenditure on R&D and exports of telecommunications, computers, and information services; the 1ston the total government expenditure on education and the number of highly qualified staff; the 3rdby patent activity. However, Sweden lags in high-tech exports. It ranks the 8th among the analyzed countries. The position of South Korea also evidences the successful experience of commercialization of innovations. Thus, South Korea is the leader in R&D spending. Moreover, South Korea is ranks the 2nd place in patent activity and high-tech exports. Even though Ukraine has unfavorable position compared to other countries, it has the potential to strengthen commercialization processes. It is confirmed, particularly, by the importance of such indicators as the amount of the government expenditure on education (the 4th place), the intensity of ICT services exports (the 3rd place), and the number of highly qualified staff (the 8th place with a slight lag behind South Korea). These indicators can be the basis for further growth of commercialized innovations in Ukraine. They highlight the solid human capital that stimulates innovation activities.