Commercializing Innovation
Rob Forage
Director, Iplus Pty Ltd
PP: 3 - 6 DOI: 1234
Abstract
This article is primarily focused on the commercialization of innovation by persons and organizations without a substantial, integrated commercial resource, including private investors, R&D enterprises and start-up businesses.
It demonstrates that innovation itself does not guarantee commercial success. Rather there are a large number of barriers to adoption in the marketplace; the amount of commercial skill and effort that it takes to make a successful new product or process is frequently (and substantially) undervalued by the originator of the technology.
There are also many different routes to market. Selection of the optimum route requires diligent business research and planning. Without such planning, limited success may be achieved but the most likely results will be losses of time, effort and money.
'The mere demonstration of intellectual property can result in spillovers and diffusion, resulting in widespread adoption and usage, with no return to the originator.'
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