• Journal of Intelligence and Information Systems
• /
• v.23 no.2
• /
• pp.139-160
• /
• 2017

Technology commercialization creates effective economic value by linking the company's R & D processes and outputs to the market. This technology commercialization is important in that a company can retain and maintain a sustained competitive advantage. In order for a specific technology to be commercialized, it goes through the stage of technical planning, technology research and development, and commercialization. This process involves a lot of time and money. Therefore, the duration and cost of technology commercialization are important decision information for determining the market entry strategy. In addition, it is more important information for a technology investor to rationally evaluate the technology value. In this way, it is very important to scientifically estimate the duration and cost of the technology commercialization. However, research on technology commercialization is insufficient and related methodology are lacking. In this study, we propose an evaluation model that can estimate the duration and cost of R & D technology commercialization for small and medium-sized enterprises. To accomplish this, this study collected the public data of the National Science & Technology Information Service (NTIS) and the survey data provided by the Small and Medium Business Administration. Also this study will develop the estimation model of commercialization duration and cost of R&D performance on using these data based on the market approach, one of the technology valuation methods. Specifically, this study defined the process of commercialization as consisting of development planning, development progress, and commercialization. We collected the data from the NTIS database and the survey of SMEs technical statistics of the Small and Medium Business Administration. We derived the key variables such as stage-wise R&D costs and duration, the factors of the technology itself, the factors of the technology development, and the environmental factors. At first, given data, we estimates the costs and duration in each technology readiness level (basic research, applied research, development research, prototype production, commercialization), for each industry classification. Then, we developed and verified the research model of each industry classification. The results of this study can be summarized as follows. Firstly, it is reflected in the technology valuation model and can be used to estimate the objective economic value of technology. The duration and the cost from the technology development stage to the commercialization stage is a critical factor that has a great influence on the amount of money to discount the future sales from the technology. The results of this study can contribute to more reliable technology valuation because it estimates the commercialization duration and cost scientifically based on past data. Secondly, we have verified models of various fields such as statistical model and data mining model. The statistical model helps us to find the important factors to estimate the duration and cost of technology Commercialization, and the data mining model gives us the rules or algorithms to be applied to an advanced technology valuation system. Finally, this study reaffirms the importance of commercialization costs and durations, which has not been actively studied in previous studies. The results confirm the significant factors to affect the commercialization costs and duration, furthermore the factors are different depending on industry classification. Practically, the results of this study can be reflected in the technology valuation system, which can be provided by national research institutes and R & D staff to provide sophisticated technology valuation. The relevant logic or algorithm of the research result can be implemented independently so that it can be directly reflected in the system, so researchers can use it practically immediately. In conclusion, the results of this study can be a great contribution not only to the theoretical contributions but also to the practical ones.

• Asian Journal of Innovation and Policy
• /
• v.6 no.2
• /
• pp.225-244
• /
• 2017

When evaluating the economic value of technology or business project, we need to consider the period and cost for commercialization. Since the discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialization cost, we often take it desirable to apply the concept of real options with key metrics of underlying asset value, commercialization cost, and volatility, while regarding the value of technology and investment as the opportunity value. We at this moment provide more elaborated real options model with the effective region of volatility, which reflects the uncertainty in the option pricing model (OPM).

• Journal of the Korean Society of Industry Convergence
• /
• v.21 no.6
• /
• pp.273-284
• /
• 2018

3D printing technology in the construction field is currently being developed and commercialized actively in foreign countries, but the development of material and equipment is underway as an initial research stage in Korea. It is necessary to implement commercialization through the introduction of 3D printing technology in the construction field as soon as possible in Korea, but there is no guideline for suitable equipment and materials in Korea at present. Therefore, in order to help prepare for commercialization, it is necessary to provide data such as equipment size and materials suitable for commercialization at the initial stage. This study investigates the types, specifications, and applications of equipment that are being used overseas to provide the equipment type and material cost required in the initial stage of commercialization in Korea. Using the surveyed data, it was possible to calculate the advantages and disadvantages of the equipment type and specification, and the cost of materials used. As a result of the analysis, Gantry type is suitable for the domestic commercialization, and the standard of the output area is $100m^2$ and the extrusion amount of $250m^3/sec$ is proposed, and the material cost of the commercial product is 20thousand won. The suggestions in this study will help to plan the construction of products and equipments to commercialize 3D printing technology in construction field in the future.

• Journal of Technology Innovation
• /
• v.15 no.1
• /
• pp.1-26
• /
• 2007

This study's purpose is to promote the development of CT industry by analizing the causal relationship between technology factor and commercialization of Tech. in CT SMEs and Ventures. The result is that Only technology experience accumulation among technical factors(technology develpoment cost, technology experience accumulation, technology concentration, technical expertise) has a significant effect on commercialization success or failure and non-technical factors have not a significant effect on.

• Knowledge Management Research
• /
• v.14 no.5
• /
• pp.15-34
• /
• 2013

In a turbulent environment, it is important for a firm to obtain competitiveness through acquiring new technologies and new knowledge. Many studies has shown that R&D has positive effects on innovation and performance. However, the limitation of resources and research personnel for SMEs leads to the needs of collaboration between government R&D and SMEs. The quantitative results of government R&D comes in the form of patents or publication of papers while the qualitative results comes in the form of commercialization (revenue increase or cost reduction) of the SMEs acquiring the technology through technology transfer. Korean government invested 16.9 Trillion Won in 2013 and achieved remarkable quantitative results but the qualitative results are still yet to be improved. The technology transfer rate in 2011 was 26.0% while the success rate of commercialization of the transferred technology is only 23.6%. Therefore it is meaningful to study the success factors of the technology commercialization in Korea. In this study, a case of technology commercialization between ETRI and Initech is studied. Initech was a venture firm which started in 1997 with 2 employees and after transfer of technology from ETRI in 1999, it has grown to a firm of 238 employees. In this study, Jolly's commercialization model was used to analyze the success factors of the commercialization. It was shown that four main factors that leads to the success are (1) mobilizing interest and endorsement through customer oriented R&D by ETRI, (2) mobilizing resources for demonstration through systematic technology commercialization process by ETRI, (3) mobilizing market constitutents through government standardization that leads to the reliability of the participants, and (4) mobilizing complementary assets for delivery by management strategies of Initech.

• 한국신재생에너지학회:학술대회논문집
• /
• 2009.11a
• /
• pp.247-250
• /
• 2009

This study considers the feasibility of using the low cost assembled separator. The graphite plate has been widely used as the separator in the field of PEMFCs(Polymer electrolyte membrane fuel cell) industry because of its excellent material properties such as good corrosion resistance, good electrical conductance and so on. However, there are some problems for the commercialization due to its poor cost effectiveness for the large volume manufacturing and lack of mechanical strength. From this respect, this study has focused on the manufacturing technology in order to reduce the price for the commercialization of separator. This study also shows that the assembled separator of the suggested structure, which is composed of grafoil and PC(PolyCarbonate) materials, could be manufactured at low cost enough for the mass production. The flow fields produced by cutting foils and the base plates of the separators were simply made by mechanical work.

• International Journal of Contents
• /
• v.16 no.3
• /
• pp.33-44
• /
• 2020

Small and medium enterprises need a wide range of information regarding technologies, industries, market conditions, other companies, and products to facilitate identification of new growth opportunities and to respond quickly to changes in the business environment. Collecting such information, however, requires the input of resources (human resources, cost, and time), and the lack of marketability resulting from the shortage of such resources is often cited as the reason small and medium often fail in their effort to commercialize their technology. The purpose of this study was to analyze the environmental factors such as market concentration and the current level of competition to enable companies to make the necessary decisions when considering market entry following R&D planning and technology commercialization, or after the development of a new product. Also, an expert-based 5FORCE analysis can be performed using the KMAPS, an industry and market intelligence system: this facilitates automatic production of analyses based on the corporate finance and transaction data. The key contribution of the study is that it facilitates conveniently and quickly analyzing the 5 Forces, which had been a difficult task in the environmental analysis, and that the outcomes of this study empower companies in the decision-making process.

• Journal of Energy Engineering
• /
• v.23 no.3
• /
• pp.132-145
• /
• 2014

There is a general agreement that performance of hydrogen fuel cell vehicle(FCV) with respect to cold start, packaging, acceleration, refueling time and range has progressed to the point where vehicles that could be brought to market in 2015_2020 will satisfy customer expectations. However cost, durability and the lack of refueling infrastructure remain significant barriers. Cost have been dramatically reduced and durability has been enhanced over the past decade, yet are still about twice what appears to be needed sustainable market success. Advanced Technologies for the commercialization of hydrogen FCV were reviewed.

• Korean Chemical Engineering Research
• /
• v.50 no.2
• /
• pp.365-370
• /
• 2012

In this study, Economic analysis of supercritical coal-fired power plant with $CO_2$ capture process was performed. For this purpose, chemical absorption method using amine solvent, which is commercially available and most suitable for existing thermal power plant, was studied. For the evaluation of the economic analysis of coal-fired power plant with post-combustion $CO_2$ capture process in Korea, energy penalty after $CO_2$ capture was calculated using the power equivalent factor suggested by Bolland et al. And the overnight cost of power plant (or cost of plant construction) and the operation cost reported by the IEA (International Energy Agency) were used. Based on chemical absorption method using a amine solvent and 3.31 GJ/$tonCO_2$ as a regeneration energy in the stripper, the net power efficiency was reduced from 41.0% (without $CO_2$ capture) to 31.6% (with $CO_2$ capture) and the levelized cost of electricity was increased from 45.5 USD/MWh (Reference case, without $CO_2$ capture) to 73.9 USD/MWh (With $CO_2$ capture) and the cost of $CO_2$ avoided was estimated as 41.3 USD/$tonCO_2$.

• Journal of Microbiology and Biotechnology
• /
• v.25 no.1
• /
• pp.109-118
• /
• 2015

Open raceway ponds are cost-efficient for mass cultivation of microalgae compared with photobioreactors. Although low-cost options like wastewater as nutrient source is studied to overcome the commercialization threshold for biodiesel production from microalgae, a cost analysis on the use of wastewater and other incremental increases in productivity has not been elucidated. We determined the effect of using wastewater and wavelength filters on microalgal productivity. Experimental results were then fitted into a model, and cost analysis was performed in comparison with control raceways. Three different microalgal strains, Chlorella vulgaris AG10032, Chlorella sp. JK2, and Scenedesmus sp. JK10, were tested for nutrient removal under different light wavelengths (blue, green, red, and white) using filters in batch cultivation. Blue wavelength showed an average of 27% higher nutrient removal and at least 42% higher chemical oxygen demand removal compared with white light. Naturally, the specific growth rate of microalgae cultivated under blue wavelength was on average 10.8% higher than white wavelength. Similarly, lipid productivity was highest in blue wavelength, at least 46.8% higher than white wavelength, whereas FAME composition revealed a mild increase in oleic and palmitic acid levels. Cost analysis reveals that raceways treating wastewater and using monochromatic wavelength would decrease costs from 2.71 to 0.73 $/kg biomass. We prove that increasing both biomass and lipid productivity is possible through cost-effective approaches, thereby accelerating the commercialization of low-value products from microalgae, like biodiesel.