Authors: Vimal Kumar, P.K. Jain
Addresses: Department of Science and Technology, Ministry of Science and Technology, Government of India, New Delhi 110 016, India. Department of Management Studies, Indian Institute of Technology,, New Delhi 110 016, India
Abstract: New technology during its upscaling, proving and commercialisation has inherent risks and demands considerable inputs in terms of time and money. Notwithstanding this, the benefits that may accrue from a new technology generally outweigh the costs/investments. However, most of the financial institutions as well as business people are deterred from financing/undertaking new technology commercialisation ventures as they entail higher risks. Further, the majority of regular financial institutions, industries and other stakeholders do not have separate mechanisms to evaluate and assess new technology projects, albeit that the importance of technology for national growth and competitive edge in the world arena is well established. Commercialisation of new technologies has started emerging as an important activity in India. Special focus and thrust has been provided for about last two decades. The paper presents the findings of a field research study recently completed by the authors in this area.
Keywords: technology; new technology; commercialisation; technology transfer; risks; new technology risk; practices; experiences; imperatives; empirical.
International Journal of Technology Transfer and Commercialisation, 2002 Vol.1 No.3, pp.268-279
Published online: 18 Aug 2003 *Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article