Abstract
New knowledge as such has no value until it is applied. The objectives of this paper relate to the processes involved in the application of new knowledge for such value-adding applications. The constructs involved include knowledge itself, knowledge transfer, technology diffusion and technology absorptive capacity for existing companies and the critical factors in establishing viable and high growth new spin-off ventures. The key success factors that have been identified are few: careful selection of new business and commercialisation channel, adequacy of resources available initially, and effective planning supported by established commercial competence.
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