Methods for Commercializing the Results of the Innovation Project

Abstract

The effective promotion of products will largely determine the performance of the basic indicators of the innovative project, which include the time of return and sales, profits and efficiency and effectiveness. At implementation of innovation, the promotion of innovative products is traditionally defined as commercialization. Depending on the classification of the participants in the process of commercialization, the results of the innovative project may be determined, the objectives in promotion of technology commercialization projects corrected and different strategies for project promotion used. Activities for planning commercialization, including both the determination of innovative ways to promote products on the market and identification of ways and actors of commercialization and their share in the terms and rights to innovation, will be implemented at the stage of development of the life cycle of the innovation project. The chosen method for commercialization of the innovation project results will determine the cost structure. Thus, elaborating the business plan at the stage of development of the innovation project life cycle, the company shall determine the method for commercializing an innovative project in the case of involvement of relevant third party organizations into the implementation of this process and the joint selection of commercialization tools and to make the calculation and comparative analysis to determine the size and cost structure to take a final decision.