Technology Commercialization

The technology commercialization process is important as it many times marks the transition from peril to promise for new products and services.

Technology Companies

The Next Steps

1st: Take a look at the resources SBDC has made available for technology commercialization.

2nd: Complete a Request for Consulting form and you will be contacted to schedule an appintement within 10 business days. Our business consultants specialize in the areas of management, global trade, and technology commercialization.

Commercialization

Definitions for commercialization are important as they may help individuals and organizations begin to critically consider the impact of new technologies on their business. Technologies that have been successfully commercialized may be less risky than those still going through the process. Correspondingly, technologies that have not been fully commercialized may offer great promise, but should always be considered through the lens of potential risk.

Defining Technology Commercialization

1. Commercialization is the process of acquiring ideas, augmenting them with complementary knowledge, developing and manufacturing saleable goods and selling the goods in a market. This process begins with product conception, including product definition, design, prototyping and pre-testing stages, and is consummated by effective product manufacturing and marketing.

2. Commercialization can be defined as the movement of ideas from the research laboratory to the marketplace, commencing at the very moment of ideation and ending at the point when a venture actually creates wealth.

3. Commercialization may be identified as the process of transferring and transforming theoretical knowledge into practice.

4. Commercialization is the process through which firms create economic value by converting knowledge, discoveries, and inventions into new or significantly improved products and services that satisfy customers’ needs.

5. Commercialization acts as a phase of new product development where it includes both production and market activities.