An empirical investigation on conversion of innovations in academic organization into commercialization

Abstract

quotBackground: The background for conducting an empirical investigation on the conversion of innovations in academic organizations into commercialization is driven by the increasing recognition of the vital role universities and research institutions play in fostering innovation. As innovation becomes a cornerstone of economic growth and competitiveness, understanding how academic innovations translate into real-world applications and commercial ventures is paramount. This research is motivated by the potential economic and societal impact of successful commercialization, including job creation, industry growth, and improved quality of life. Moreover, it seeks to uncover the factors and barriers that influence this conversion process, shedding light on the effectiveness of knowledge transfer initiatives, university-industry collaborations, and intellectual property strategies. By exploring this dynamic intersection of academia and commerce, the study aims to inform policies and practices that can enhance innovation ecosystems and contribute to the broader goal of innovation-driven economic development. newlineAim: The aim of this study is to empirically investigate the factors influencing the successful conversion of innovations originating in academic organizations into commercialized products or services. By examining the dynamics of technology transfer, university-industry partnerships, entrepreneurship support, and intellectual property strategies, this research aims to identify critical drivers and barriers in the commercialization process. Ultimately, the study seeks to provide actionable insights for academic institutions, policymakers, and industry stakeholders, enabling them to optimize newline newlinetheir strategies and practices to foster innovation commercialization. The overarching goal is to contribute to economic growth, job creation, and the realization of societal benefits through the effective transformation of academic innovations into viable commercial ventures. newlineMaterials and Methods: For an empirical investigation