INGENIEUR
FEATURE
Paths to
Commercialisation:
From Idea to Market
By Ir. Dr Abdul Rahim Abu Talib
Associate Professor, Deputy Director
Corporate Strategic and Communication
Universiti Putra Malaysia
W
Innova,on
hat is commercialisation? There
are various perspectives on the
Intellectual
definitions, as follows:
Money
Property
a. Commercialisation is a process that
transforms an innovative idea into
a profitable commercial product [1].
Commercia
b. Commercialisation is a process
liza,on
in which one party transfers its
technology (innovative product or
invention) and receives money in
Buyer
and
Commercia
exchange for giving up all or some
Seller
l
Product
of their rights to the technology.
Hence, commercialisation involves
Technology
technology transfer of an innovative
Transfer
or
product, which is developed or used in
Licensing
one unit of an organisation and adopted
by another unit of that organisation or
another organisation.
Commercialisation
involves a sale, whereby the buyer pays the
Figure 1: Elements of
seller for some or all of the seller’s rights to
Commercialisation
the technology. If nobody wants to pay for
the technology, the technology cannot be
implementation plans, and implementing
commercialised, although the technology
such plans. Commercialisation may be a
might be great science or engineering [2].
necessary step for commercial success for
c. Commercialisation is a process that
innovations coming from start-up ventures
converts ideas, research or prototypes
or company research efforts [3].
into viable products that retain their
Hence, commercialisation es sentially
desired functionality, while designing involves converting an innovative idea, product
them for manufacturability at low cost or technology into feasible products so that they
and launching them quickly with high may be launched into the market. The essential
quality designed in. Commercialisation elements of commercialisation are illustrated in
involves formulating the manufacturing Figure 1, which pertains to commercialising a
and supply chain strategies, devising product via technology transfer or licensing [4].
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34
VOL
- DECEMBER 2016
VOL68
55OCTOBER
JUNE 2013