A criteria based approach for evaluating innovation commercialisation

This study attempts to provide a criteria-based approach that can be used to evaluate the potential for technology transfer and commercialisation of a new technology from university research. More specifically, this study offers the critical factors for assessing marketability and feasibility of an innovation for the commercialisation and technology transfer process. The Delphi technique has been used to refine and categorise assessment criteria identified from various models and frameworks that emerged from literature. Proposed categories of criteria that are found to be important in the evaluation and assessment of a new technology for the commercialisation purpose include: Technological Readiness; Legal and Regulatory; Social Benefits and Impact; Economic and Market Factors.