The entrepreneur's technology commercialization framework

Abstract

The goal of this thesis is to develop a framework for technology commercialization specifically geared towards the capabilities of an entrepreneur. The entrepreneur in this case is typified by limited capital assets and minimal visibility to mainstream consumers. This affects many aspects of business including manufacturing, marketing, advertising and customer recognition. This thesis defines the entrepreneur’s technology commercialization framework in discrete steps based on existing and widely accepted technology commercialization models. The developed framework is specialized for the entrepreneur by proposing methods that leverage existing infrastructures to maximize the effectiveness of the entrepreneur. Two existing technology commercialization models were used as a foundation for the proposed framework. By combining the product-centric model developed by Vijay Jolly with the market-centric model developed by Everett Rogers and further refined by Geoffrey Moore, a foundation for the entrepreneur’s technology commercialization framework exists. The entrepreneur’s technology commercialization framework consists of four phases and four links that can be associated with the combined commercialization model described earlier. Further research examining processes and rules that so-called successful entrepreneurs follow was also required. Key activities successful entrepreneurs perform were identified. These activities were integrated into the entrepreneur’s technology commercialization framework. Following development of the entrepreneur’s technology commercialization framework, the application of the framework is described. The application focuses on the introduction of new products in the golf equipment industry, specifically golf club iron sets. The application of the framework is prefaced by two case studies specific to the golf equipment industry that reinforce the utility of the proposed entrepreneur’s technology commercialization framework. The application describes in detail the plan for developing and introducing an innovative golf club iron set.