Understanding commercialization of technological innovation: taking stock and moving forward

Abstract

The commercialization of technological innovation, which is key to entrepreneurial success, represents a combination of several entrepreneurial activities. Building on research in management, strategy, entrepreneurship, and economics, this research summarizes 194 articles from 62 journals, categorizing them into six broad entrepreneurial activity themes: sources of innovations, types of innovation, market entry competence and feasibility, protection, development, and deployment. This review and synthesis suggest a framework of commercialization and an agenda for future research along with recommendations and guidance for future research. The proposed agenda provides topics and research questions for research, as well as related recommendations regarding the study and practice of the commercialization of innovation.

A microfoundations approach to studying innovation in multinational subsidiaries

“…Boundary-spanning managers are, thus, crucial to enhance the subsidiary's absorptive capacity by increasing the interunit homophily between the subsidiary and its parent (Fang et al, 2010;Schotter et al, 2017). Absorptive capacity is the degree to which new information is recognized, assimilated, and applied to commercial ends (Cohen & Levinthal, 1990), and it is critical to the knowledge transfer between the parent and its subsidiary (Datta, Mukherjee, & Jessup, 2015;Lane, Salk, & Lyles, 2001). Absorptive capacity is related to the level of homophily-"the degree to which two or more individuals who interact are similar in certain attributes such as beliefs, education, social status, and the like" (Rogers, 1995, pp.…”

From Technological Inventions to New Products: A Systematic Review and Research Agenda of the Main Enabling Factors

“…Despite the ever increasing interest toward the open innovation paradigm (Chesbrough, ), which suggests that firms rely on technology acquisition or external commercialization strategies to leverage their innovative capabilities (Lichtenthaler and Ernst, ; Schroll and Mild, ), the present research mainly focuses on the second approach. Notably, the introduction of technology‐based products on the market has been widely considered as the commercial value of firms' in‐house R&D activities (Katila and Ahuja, ), as well as a critical determinant of firms' performance and survival (Artz et al ., ; Damanpour, ; Datta et al ., ). Accordingly, leading companies are often those able to innovate by turning their own inventions into new marketable products more frequently and faster than their competitors (Nevens, ; Stevens et al ., ; Li et al ., ).…”

Stakeholder integration in new product development: a systematic analysis of drivers and firm capabilities

“…While firms may need a diverse set of capabilities to commercialize a technological innovation, which is defined as the ‘capacity to bring a technological innovation to market and reach some of the mainstream, beyond the initial adopters' (Datta et al, ; p. 217), stakeholder integration capabilities constitute a set of core capabilities that are required to determine and respond to market needs. Stakeholder capabilities relate to the sensing and seizing stages of the dynamic capabilities framework.…”