Fostering commercialisation of innovation in small high technology firms

Abstract

Based on their capability to commercialise innovations small technology-based firms serve as promoters of economical growth. However, to date the empirical research on the commercialisation process in small high-tech firms has been relatively limited. This study describes the activities and the different phases that small- and medium-sized healthcare technology firms have conducted during the commercialisation process of innovations. The results suggest that the balanced allocation of resources have a crucial role during the commercialisation process. In addition, the development of collaboration with resellers and the exploitation of the Innovation Support Services (ISS) are essential in order to improve the effectiveness of the commercialisation process of innovations. Intense collaboration may lead to shorter product life cycles and further enhances the firm's capability to adapt to/adjust to the increasing dynamics of the business environment.