Title: A framework for evaluating new technologies

Authors: Colin O. Benjamin

Addresses: 436 North Wing, School of Business and Industry, Florida A&M University, Tallahassee FL 32307, USA

Abstract: The several well-proven tools, techniques and group processes used to facilitate the evaluation of new technologies can be integrated into a replicable, structured, four-phase decision-making framework to evaluate the viability of commercialising new technologies. In the initial phase, a Market Analysis is conducted to identify the more promising applications of the technology. Concurrently, a Technology Assessment is undertaken to gauge the competitive advantage offered by the technology. Next, a Financial Evaluation is used to assess the technology|s profitability potential based on the expenditure associated with getting the product to market and revenue forecasts. Finally, Risk Analysis is done to provide an assessment of the risks and return associated with the commercialisation effort.

Keywords: technology assessment; technology commercialisation; technology evaluation; new technologies; market analysis; financial evaluation; risk assessment.

DOI: 10.1504/IJTTC.2006.010748

International Journal of Technology Transfer and Commercialisation, 2006 Vol.5 No.3, pp.181 - 194

Published online: 29 Aug 2006 *

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