Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises
In contemporary academia and industry, the commercialization of technology through licensing has emerged as a prevalent strategy. This paradigmatic shift has prompted numerous industrial firms to intensify their focus on technology commercialization as a mechanism to optimize the returns on their re...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-12-01
|
| Series: | Administrative Sciences |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2076-3387/14/1/9 |
| _version_ | 1797344885196455936 |
|---|---|
| author | Ioannis Lysaridis Panos T. Chountalas Anastasios I. Magoutas |
| author_facet | Ioannis Lysaridis Panos T. Chountalas Anastasios I. Magoutas |
| author_sort | Ioannis Lysaridis |
| collection | DOAJ |
| description | In contemporary academia and industry, the commercialization of technology through licensing has emerged as a prevalent strategy. This paradigmatic shift has prompted numerous industrial firms to intensify their focus on technology commercialization as a mechanism to optimize the returns on their research and development investments, while concurrently leveraging their comprehensive technology portfolios. However, despite growing interest in this area, there exists a conspicuous gap in scholarly literature exploring how small and medium-sized enterprises (SMEs) can effectively and efficiently capitalize on this opportunity in a global context. The objective of the present study is to fill this void by offering an in-depth analysis of the key determinants that contribute to the successful commercialization of technology via licensing. Employing a qualitative research methodology, this paper presents a comparative case study that explores four separate international licensing alliances, each formed between the same licensor, specializing in solar mounting system engineering, and four different licensees, all engaged in the production and marketing of this specialized technology. Data were meticulously gathered through a triangulated approach that incorporated interviews with both licensor and licensees, extensive desk research, and on-site observations. Our empirical findings reveal that the critical success factors identified in existing literature are not uniformly significant. Specifically, four elements—relational dynamics, cultural considerations, human capital, and resource allocation—emerged as pivotal in ensuring the successful implementation of technology commercialization strategies. By elucidating these nuanced factors, this study contributes to both academic discourse and practical applications, thereby serving as a valuable resource for SMEs aiming to navigate the complexities of technology commercialization in international settings. |
| first_indexed | 2024-03-08T11:09:23Z |
| format | Article |
| id | doaj.art-6fe090d9e68f4e6da6802faf6f0d693a |
| institution | Directory Open Access Journal |
| issn | 2076-3387 |
| language | English |
| last_indexed | 2024-03-08T11:09:23Z |
| publishDate | 2023-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Administrative Sciences |
| spelling | doaj.art-6fe090d9e68f4e6da6802faf6f0d693a2024-01-26T14:11:17ZengMDPI AGAdministrative Sciences2076-33872023-12-01141910.3390/admsci14010009Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized EnterprisesIoannis Lysaridis0Panos T. Chountalas1Anastasios I. Magoutas2School of Social Sciences, Hellenic Open University, 26335 Patras, GreeceDepartment of Business Administration, University of Piraeus, 18534 Pireas, GreeceDepartment of Business Administration, National and Kapodistrian University of Athens, 10559 Athens, GreeceIn contemporary academia and industry, the commercialization of technology through licensing has emerged as a prevalent strategy. This paradigmatic shift has prompted numerous industrial firms to intensify their focus on technology commercialization as a mechanism to optimize the returns on their research and development investments, while concurrently leveraging their comprehensive technology portfolios. However, despite growing interest in this area, there exists a conspicuous gap in scholarly literature exploring how small and medium-sized enterprises (SMEs) can effectively and efficiently capitalize on this opportunity in a global context. The objective of the present study is to fill this void by offering an in-depth analysis of the key determinants that contribute to the successful commercialization of technology via licensing. Employing a qualitative research methodology, this paper presents a comparative case study that explores four separate international licensing alliances, each formed between the same licensor, specializing in solar mounting system engineering, and four different licensees, all engaged in the production and marketing of this specialized technology. Data were meticulously gathered through a triangulated approach that incorporated interviews with both licensor and licensees, extensive desk research, and on-site observations. Our empirical findings reveal that the critical success factors identified in existing literature are not uniformly significant. Specifically, four elements—relational dynamics, cultural considerations, human capital, and resource allocation—emerged as pivotal in ensuring the successful implementation of technology commercialization strategies. By elucidating these nuanced factors, this study contributes to both academic discourse and practical applications, thereby serving as a valuable resource for SMEs aiming to navigate the complexities of technology commercialization in international settings.https://www.mdpi.com/2076-3387/14/1/9technologycommercializationlicensingopen innovationresearch and developmentcritical success factors |
| spellingShingle | Ioannis Lysaridis Panos T. Chountalas Anastasios I. Magoutas Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises Administrative Sciences technology commercialization licensing open innovation research and development critical success factors |
| title | Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises |
| title_full | Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises |
| title_fullStr | Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises |
| title_full_unstemmed | Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises |
| title_short | Critical Success Factors in the Technology Commercialization Process: A Comparative Case Study of International Licensing Alliances among Small and Medium-Sized Enterprises |
| title_sort | critical success factors in the technology commercialization process a comparative case study of international licensing alliances among small and medium sized enterprises |
| topic | technology commercialization licensing open innovation research and development critical success factors |
| url | https://www.mdpi.com/2076-3387/14/1/9 |
| work_keys_str_mv | AT ioannislysaridis criticalsuccessfactorsinthetechnologycommercializationprocessacomparativecasestudyofinternationallicensingalliancesamongsmallandmediumsizedenterprises AT panostchountalas criticalsuccessfactorsinthetechnologycommercializationprocessacomparativecasestudyofinternationallicensingalliancesamongsmallandmediumsizedenterprises AT anastasiosimagoutas criticalsuccessfactorsinthetechnologycommercializationprocessacomparativecasestudyofinternationallicensingalliancesamongsmallandmediumsizedenterprises |