• Journal of Digital Convergence
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• v.18 no.7
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• pp.135-148
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• 2020

Even after successful technology development, there are many cases where commercialization fails due to difficulties in financing in the early stages of commercialization. The purpose of this study is to give practical implications to technology-based founders. At the beginning of commercialization, 7 companies that succeeded in procuring different types of external funds were selected to conduct case analysis. The results are as follow. First, it was confirmed that the excellence of technology is the most important. Second, it was confirmed that they were majors in the relevant technology field or have worked in related fields, and concluded that greater synergy effect can be created by adding the founder's business will and active attitude. Third, even if the company's internal capabilities were insufficient, it was possible to succeed in financing by identifying and utilizing external financial information. Fourth, it is necessary to utilize a linked financial system that receives both loans and investments. Fifth, systematic IR (Investor Relation) should be continued.

• The Journal of Industrial Distribution & Business
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• v.9 no.11
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• pp.39-54
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• 2018

Purpose - To success, in spite of deficient resources, a start-up company has to check various circumstances. Many researchers proposed different appraisal methods for technology commercialization. But everybody agrees Merrifield is the first one, who is a pioneer of an appraisal model of technology commercialization. After he proposed it, many researchers and field workers developed a more complicated model, which called a BMO model. In this research, considering the circumstances of start-ups that lack available resources, it proposes a new appraisal method for technology commercialization, which is named a weighted-BMO model. Research design, data, and methology - For the new BMO-model, it studied the preceding studies. And it found that the success factors for start-ups were correlated with technology commercialization. After comparing the success factors for technology commercialization of start-ups with BMO appraisal factor, it withdraws the net BMO appraisal model: which we are calling the weighted-BMO model. Results - This study found a few things. First, actually, the BMO appraisal factors related with the success factors of technology commercialization. Second, the weighted-BMO model, which included the entrepreneur ability factor, was more accurately estimated the success of technology-based start-ups than the BMO model. Third, it overcame the weakness of the BMO-model, which did not include quantitative factors. In addition to evaluating the feasibility of the BMO model, we also presented a strategy for the future direction. But, still, it included a few shortcomings, which we are calling the arbitrage of weighted value. Sometimes, the intentional weighted value can deliberate the different valuation. Conclusitons - Due to this study, the weighted-BMO model included appraisal factors related with the success factors of technology commercialization and the entrepreneur ability factor, and quantitative factors. When evaluating the combined score of the existing Merrified BMO components, 35 points of the first pass criterion accounted for 29.17% of the total score, and 80 points of the merit score of the second rank criterion were 66.67% Considering that the weighted sum is taken into account, the baseline score of the weighted summing method for each component of the modified BMO model is 2.92 points, which is 29.17% of the weighted sum total of 10 points. The evaluation score was 6.67 points, 66.67% of the weighted total score of 10 points.

• World Technopolis Review
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• v.2 no.1
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• pp.21-31
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• 2013

The largest and oldest science and technology park in Korea, Daedeok Innopolis has 29 government research institutes and 5 universities. Every year these research organizations of Daedeok Innopolis are generating more than 7 thousands technology patents and the government tries to commercialize technologies through simple technology licensing to private companies. To facilitate the technology transfer, the new mechanism named research institute spin-offs has been exclusively granted to Daedeok Innopolis in 2006. Since then, the Innopolis Foundation has put lots of effort to activate the mechanism in order to create more commercialization of R&D results from government research institutes (GRIs). This study is undertaken to review the interactive environment of the technology transfer in Daedeok Innopolis and study the unique mechanism which enables Daedeok Innopolis to proceed technology transfer effectively and in particular, looks at the role which can be played by the Innopolis Foundation as a government agent of the policy aimed at facilitating commercialization of using technologies developed by GRIs.

• Journal of Technology Innovation
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• v.21 no.3
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• pp.95-119
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• 2013

There are increasing policy and academic interests on technology commercialization of public research organizations. Prior researches have focused on institutional factors and organizational differences between academics and public research organizations. Using a new data on individual-level characteristics and commercialization, we examine the effects of prior experience and total number of research projects on commercialization performance. We find strong positive relationships between prior experience and commercialization performance. Also we find a inverted U-curved relationships between total number of research projects and commercialization. Based on these results, we suggest some policy implications to promote technology commercializations of public research organizations.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.4
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• pp.418-427
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• 2017

In Korea, interest in basic research is growing, in order to ensure the sustainable competitiveness of the main industries and to support world-class technology that can create high added value in the future. However, companies are known to encounter various problems when attempting to market products based on the results of basic research, which is known to be due to their lack of experience of commercialization and related activities. Therefore, in this study, we tried to analyze the effect of the technology commercialization activity stemming from basic science and technology research on the business performance. The technology commercialization activities are divided into experience of commercialization, complete charge department, and consulting on technology commercialization and we developed an analytical model that (distinguishes between?) the technology innovation activities and technology innovation capabilities and analyzed their impact on the business performance. As a result, the importance of technology commercialization activities was confirmed by the fact that it had a positive effect on the business performance, while the technological innovation activity was found to positively affect the management performance, demonstrating that it plays a strategic role in companies. Finally, it was found that the technology innovation capacity partially influences the management performance and that it is necessary to establish a strategic research and development infrastructure.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.167-184
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• 2020

This study analyzed the effects of information orientation and technology commercialization ability on technological performance of corporate workers. Information Orientation consisted of information technology capability, information management ability, information behavior and value, and technology commercialization capability consisted of productization capability, production capability, and marketing capability as sub-variables, and technology accumulation capacity was used as a coordinating variable. An empirical analysis was performed on 349 online and offline questionnaires collected from corporate employees. Analysis results using SPSS v22.0 and Process macro v3.4 First, information orientation and technical performance were found to have a significant effect.In addition, information orientation had a significant effect on technology commercialization capability. The magnitude of the influence on the productive capacity and the productive capacity in the variable of competency was in the order of information technology ability, information management ability, information behavior and value, but the influence on marketing capability was different from the previous results. Information management ability and information technology ability were in order. Second, the product commercialization capability, production capability, and marketing ability of technology commercialization ability had a significant effect on technology performance independently of information orientation. Third, the information technology ability and information management ability had a significant influence on the technical performance, but the indirect effect through the commercialization ability and marketing ability in information behavior and value was significant, the indirect effect of transit was not significant. Fourth, only the interaction terms of production capacity and technology accumulation capacity were significant among the sub-variables of technology commercialization capacity, and technology accumulation capacity, commercialization capacity, and marketing ability were not significant. Therefore, the relationship between productive capacity and technological performance can be interpreted as lower in firms with high technology accumulating ability than in lower firms, subsequent studies will require the introduction of other independent variables, models through the introduction of parameters and control variables.

• Journal of Korean Society for Quality Management
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• v.42 no.3
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• pp.477-496
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• 2014

Purpose: This paper has examined the impact of open innovation business model in technology commercialization with the data from 30 companies of manufacturing firms in South Korea. Methods: The findings provide support for distinguishing five hypotheses relating to development time, IP management, sales, firm size and R&D intensity. To test the hypotheses, data were collected using via e-mail and fax. Small and medium-sized (less than 300 employees) and large industrial firms were chosen for this study. Results: The result shows that openness in its business model is positively associated with successful technology commercialization. Conclusion: The major findings and the implications are: First, as the business model gets more open, development period of technology will be more favorable which gets benefit from rising costs of innovation. Second, as the business model gets more open, large portion of sales are created from new products. Thus, the problem of shorter product life in the market which affects large portion of market revenue can be solved through an open business model. Third, in general, R&D intensity, firm size and the level of IP management affect determination of business model types. The findings also suggest that companies need to increasingly address their external technology exploitation process instead of focusing on their internal innovation processes.

• Journal of Korean Institute of Industrial Engineers
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• v.40 no.5
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• pp.462-476
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• 2014

The Korean government has been implementing diverse policies with programs to generate better outcomes and results of university-industry collaboration since 1990s. In this paper, we analyze the effect of universities' competency factors on the performance of technology commercialization and start-ups respectively. We employ multiple regression models using 154 data sets from university information posting system of the Korean Council for University Education. Through conducting statistical analyses with diverse data manipulations, we obtained a high degree of significance on hypotheses, and also could compare mutual differences between the effects of university competence on technology commercialization and start-ups. The technology transfer and commercialization specifically depends on professors' patent applications and technology holding company, while start-ups does professionals in industry-university cooperation. We suggest government to spur on the ongoing customization of university-industry collaboration policy, and university to properly cope with global atmosphere changing from ivory tower to academic capitalism and start-ups promotion.

• Journal of Navigation and Port Research
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• v.44 no.2
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• pp.79-87
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• 2020

In the field of logistics, the maritime shipping industry plays a critical role as the backbone of global trade activities. Nevertheless, previous studies on the commercialization and benefits of blockchain technology are limited in the field of marine logistics. Thus, the purpose of this study was to predict the benefit for each group involved in marine logistics when blockchain technology is applied. As such, 21 factors of benefits were selected for seven major logistics groups (financial institutions, freight forwarders, inland transportation, ocean carriers, port operators, port-related government authorities, and shippers) to study the benefit expected for each through the commercialization of blockchain technology. Based on the results, a different benefit level is expected for each group when blockchain technology is used. In order, ocean carriers (0.155), inland transportation (0.150), financial institutions (0.153), port operators (0.145), freight forwarders (0.142), port-related government authorities (0.129), and shippers (0.126) were found to benefit most from the use of blockchain technology. This study has industrial implications in that it presents the benefits expected when blockchain technology is realized and used in marine logistics by groups involved in logistics transactions.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.3
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• pp.32-40
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• 2023

Recently, there are some outdoor floor advertising lighting devices as one of the active marketing methods. However, for outdoor use, there are many restrictions due to the Outdoor Advertisement Act, according to requiring high-output heat generation, waterproofing, and AC power, etc. The purpose of this study is to develop a Duo Light product optimized for indoor use through publicity and information guidance in normal times and automatic evacuation route guidance display in case of disaster, in conjunction with disaster safety. To that end, patent search and patent association analyses were conducted, and a comparative analysis with commercial products was conducted as a case study. In addition, prototypes were designed and produced through the review of operation principles, where field environment surveys and self-tests were conducted. Also, technology roadmaps were presented by preparing plans for expandability and advancement of products. For the analysis of technology commercialization, the feasibility of technology commercialization was examined through the analysis of Jolly's Model and Lean Canvas Model. The results of this study will be able to contribute to minimize human damage through the effective response to disasters, which can increase the effect of indoor advertising by using the proposed indoor floor advertising lighting device in advertising and disaster situations.