Browse > Article
http://dx.doi.org/10.7545/ajip.2017.6.1.023

What Causes Technology Commercialization to Succeed or Fail after Transfer from Public Research Organizations  

Kim, Yong-Jeong (Korea Institute of Science and Technology, Evaluation and Planning)
Shin, Seowon Joseph (Foster School of Business, University of Washington)
Publication Information
Asian Journal of Innovation and Policy / v.6, no.1, 2017 , pp. 23-44 More about this Journal
Abstract
This study explores how the technology commercialization process leads to either success or failure after transfer from PROs to SMEs by conducting a binomial logistic regression analysis. We found that the more additional development a firm implements on the transferred technology, the more likely the commercialization is to fail. The higher number of alternative technology and bigger market risk are associated with a greater likelihood of failure. On the other hand, the existence of complementary technology, the degree of cooperation with the technology provider, the size of the target market, the willingness of the CEO, and the funding availability are known to have positive effects on the success of technology commercialization. In addition, the case studies we conducted from the sample companies demonstrated that "market uncertainty," "technological issues depending on the technology-specific characteristics," and "a lack of funding capability" are some of the causes for failure of technology commercialization.
Keywords
Technology commercialization; success factors of commercialization; barriers to commercialization; public research organizations;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Bozeman, B., Fay, D. and Slade, C.P. (2013) Research collaboration in universities and academic entrepreneurship: the-state-of-the-art, Journal of Technology Transfer 38, http://doi.org/10.1007/s10961-012-9281-8   DOI
2 Cohen, W.M., Nelson, R.R. and Walsh, J.P. (2002) Links and impacts: the influence of public research on industrial R&D, Management Science, 48(1), 1-23.   DOI
3 Colyvas, J.A., Snellman, K., Bercovitz, J. and Feldman, M. (2012) Disentangling effort and performance: a renewed look at gender differences in commercializing medical school research, Journal of Technology Transfer, 37(4), 478-489. http://doi.org/10.1007/s10961-011-9235-6   DOI
4 Coupe, T. (2003) Science is golden: academic R&D and university patents, Journal of Technology Transfer, 28(1), 31-46.   DOI
5 Di Gregorio, D. and Shane, S. (2003) Why do some universities generate more startups than others? Research Policy, 32(2), 209-227.   DOI
6 Eisenhardt, K.M. and Martin, J.A. (2000) Dynamic capabilities: what are they? Strategic Management Journal, 21(10-11), 1105-121.   DOI
7 Friedman, J. and Silberman, J. (2003) University technology transfer: do incentives, management, and location matter? Journal of Technology Transfer, 28(1), 17-30.   DOI
8 Goldfarb, B. and Henrekson, M. (2003) Bottom-up versus top-down policies towards the commercialization of university intellectual property, Research Policy, 32(4), 639-658.   DOI
9 Haeussler, C. and Colyvas, J.A. (2011) Breaking the ivory tower: academic entrepreneurship in the life sciences in UK and Germany, Research Policy, 40(1), 41-54.   DOI
10 Hagedoorn, J. (2002) Inter-firm R&D partnerships: an overview of major trends and patterns since 1960, Research Policy, 31(4), 477-492.   DOI
11 Hoang, H. and Rothaermel, F.T. (2005) The effect of general and partner-specific alliance experience on joint R&D project performance, Academy of Management Journal, 48(2), 332-345.   DOI
12 Jeong, S. and Lee, S. (2015) Strategic timing of academic commercialism: evidence from technology transfer, The Journal of Technology Transfer, http://doi.org/10.1007/s10961-015-9424-9   DOI
13 Kim, Y.J. and Shin, S.W. (2016) A Study on Patented Technology and New Firm Formation from Korean Universities, The Journal of Intellectual Property, 11(1), in press (in Korean).
14 Knockaert, M., Ucbasaran, D., Wright, M. and Clarysse, B. (2011) The relationship between knowledge transfer, top management team composition, and performance: the case of science‐based entrepreneurial firms, Entrepreneurship Theory and Practice, 35(4), 777-803.   DOI
15 Li, D., Eden, L., Hitt, M.A. and Ireland, R.D. (2008) Friends, acquaintances, or strangers? Partner selection in R&D alliances, Academy of Management Journal, 51(2), 315-334.   DOI
16 Link, A.N. and Link, J.R. (2009) Government as entrepreneur, Oxford University Press New York.
17 Link, A.N., Siegel, D.S. and Bozeman, B. (2007) An empirical analysis of the propensity of academics to engage in informal university technology transfer, Industrial and Corporate Change, 16(4), 641-655.   DOI
18 Lungeanu, R., Stern, I. and Zajac, E.J. (2015) When do firms change technologysourcing vehicles? The role of poor innovative performance and financial slack, Strategic Management Journal.
19 Mahoney, J.T., McGahan, A.M. and Pitelis, C.N. (2009) Perspective-the interdependence of private and public interests, Organization Science, 20(6), 1034-1052.   DOI
20 Mitchell, W. and Singh, K. (1996) Survival of businesses using collaborative relationships to commercialize complex goods, Strategic Management Journal, 17(3), 169-195.   DOI
21 Mok, K.H. (2005) Fostering entrepreneurship: changing role of government and higher education governance in Hong Kong, Research Policy, 34(4), 537-554.   DOI
22 Nerkar, A. and Shane, S. (2007) Determinants of invention commercialization: an empirical examination of academically sourced inventions, Strategic Management Journal, 28(11), 1155-1166.   DOI
23 Mowery, D.C., Sampat, B.N. and Ziedonis, A.A. (2002) Learning to patent: institutional experience, learning, and the characteristics of US university patents after the Bayh-Dole Act, 1981-1992, Management Science, 48(1), 73-89.   DOI
24 Mowery, D.C. and Ziedonis, A.A. (2002) Academic patent quality and quantity before and after the BayhaE Dole act in the United States, Research Policy, 31(3), 399-418.   DOI
25 Murray, F. and Graham, L. (2007) Buying science and selling science: gender differences in the market for commercial science, Industrial and Corporate Change, 16(4), 657-689.   DOI
26 Owen-Smith, J. and Powell, W.W. (2001) To patent or not: faculty decisions and institutional success at technology transfer, Journal of Technology Transfer, 26(1-2), 99-114.   DOI
27 Roessner, D., Bond, J., Okubo, S. and Planting, M. (2013) The economic impact of licensed commercialized inventions originating in university research, Research Policy, 42(1), 23-34. http://doi.org/10.1016/j.respol.2012.04.015   DOI
28 Rothaermel, F.T., Agung, S.D. and Jiang, L. (2007) University entrepreneurship: a taxonomy of the literature, Industrial and Corporate Change, 16(4), 691-791.   DOI
29 Rothaermel, F.T. and Deeds, D.L. (2006) Alliance type, alliance experience and alliance management capability in high-technology ventures, Journal of Business Venturing, 21(4), 429-460.   DOI
30 Rothaermel, F.T. and Thursby, M. (2005) University-incubator firm knowledge flows: assessing their impact on incubator firm performance, Research Policy, 34(3), 305-320.   DOI
31 Thursby, J.G. and Kemp, S. (2002) Growth and productive efficiency of university intellectual property licensing, Research Policy, 31(1), 109-124.   DOI
32 Shane, S. (2004) Encouraging university entrepreneurship? the effect of the Bayh-Dole Act on university patenting in the United States, Journal of Business Venturing, 19(1), 127-151.   DOI
33 Siegel, D.S. and Wessner, C. (2012) Universities and the success of entrepreneurial ventures: evidence from the small business innovation research program, Journal of Technology Transfer, 37(4), 404-415. http://doi.org/10.1007/s10961-010-9186-3   DOI
34 Somaya, D., Kim, Y. and Vonortas, N.S. (2011) Exclusivity in licensing alliances: using hostages to support technology commercialization, Strategic Management Journal, 32(2), 159-186.   DOI
35 Thursby, J.G. and Thursby, M.C. (2002) Who is selling the ivory tower? sources of growth in university licensing, Management Science, 48(1), 90-104.   DOI
36 Van de Vrande, V. (2013) Balancing your technology‐sourcing portfolio: how sourcing mode diversity enhances innovative performance, Strategic Management Journal, 34(5), 610-621.   DOI
37 Vanaelst, I., Clarysse, B., Wright, M., Lockett, A., Moray, N. and S'Jegers, R. (2006) Entrepreneurial team development in academic spinouts: an examination of team heterogeneity, Entrepreneurship Theory and Practice, 30(2), 249-271.   DOI
38 Yli-Renko, H., Autio, E. and Sapienza, H.J. (2001) Social capital, knowledge acquisition, and knowledge exploitation in young technology-based firms, Strategic Management Journal, 22(6-7), 587-613.   DOI
39 Zahra, S.A. and Nielsen, A.P. (2002) Sources of capabilities, integration and technology commercialization, Strategic Management Journal, 23(5), 377-398.   DOI
40 Aldridge, T. and Audretsch, D.B. (2010) Does policy influence the commercialization route? evidence from National Institutes of Health funded scientists, Research Policy, 39(5), 583-588.   DOI
41 Arora, A. and Fosfuri, A. (2003) Licensing the market for technology, Journal of Economic Behavior & Organization, 52(2), 277-295.   DOI
42 Bercovitz, J. and Feldman, M. (2008) Academic entrepreneurs: organizational change at the individual level, Organization Science, 19(1), 69-89.   DOI
43 Bercovitz, J. and Feldman, M. (2011) The mechanisms of collaboration in inventive teams: composition, social networks, and geography, Research Policy, 40(1), 81-93.   DOI
44 Bozeman, B. (2000) Technology transfer and public policy: a review of research and theory, Research Policy, 29(4), 627-655.   DOI