The Algorithm for the Commercialization Process of Developments in Research Organizations

Abstract

The article deals with the notion of "commercialization of technologies" and provides the interpretation of the term given by different scholars. The article examines the existing methods of commercialization of scientific developments. One of the main constraints to the technological entrepreneurship development is the wrongly chosen commercialization form of scientific developments. In addition, existing commercialization methods are not sufficiently effective. Therefore, the purpose of the paper is to provide a detailed examination of most commonly used methods of scientific developments commercializing and to develop an algorithm of action in the commercialization process to successfully launch a product on the market. Drawing on prior foreign and Russian studies of commercialization forms, we can identify 7 most commonly used forms of commercialization. The article describes each method in graphical and verbal format, compares various forms of commercialization of scientific developments in line with the factors critical for each model.