The Product Market and the Market for “Ideas”: Commercialization Strategies for Technology Entrepreneurs

Research Policy 32 (2003) 333350 The product mercenaryise and the commercialize for ideas: commercialisation strategies for applied science entrepreneurs Joshua S. Gans a , Scott Stern b,?,1 a Melbourne Business schooling and Intellectual Property Research Institute of Australia, University of Melbourne, Melbourne, Australia b Kellogg discipline of Management, Northwestern University, Evanston, IL 60208, USA Abstract This paper presents a man-made manikin identifying the central drivers of start-up commercialization strategy and the implications of these drivers for industrial dynamics. We sleeper strategy to the commercialization environmentthe microeconomic and strategical conditions lining a ?rm that is translating an idea into a value bid for customers. The framework addresses why technology entrepreneurs in some environments counterbalance accomplished ?rms, while others cooperate with incumbents and reinforce existing mart power. Our analytic think ing suggests that competitive interaction between start-up innovators and open ?rms depends on the strawman or absence of a foodstuff for ideas. By think on the operating requirements, ef?ciency, and institutions associated with markets for ideas, this framework holds several(prenominal) implications for the management of high-technology entrepreneurial ?rms.

© 2002 Elsevier Science B.V. All rights reserved. Keywords: Product market; Commercialization strategies; engine room entrepreneurs; Ideas market; Appropriability 1. Introduction The preceding(a) two decades have witnessed a dramatic increase in inves tment in technology entrepreneurship the fou! nding of small, start-up ?rms developing inventions and technology with signi?cant effectiveness commercial application. Because of their youth and small size, start-up innovators ordinarily have little pose in the markets for which their innovations are most appropriate, and they have at most two or 3 technologies at the stage of potential market introduction. For these ?rms, a key...If you compulsion to get a profuse essay, order it on our website: OrderCustomPaper.com

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