Title: External technology commercialisation and markets for technology in Russian manufacturing industry
Authors: Pekka Torvinen; Juha Väätänen
Addresses: School of Industrial Engineering and Management, Lappeenranta University of Technology, P.O. Box 20, 53851 Lappeenranta, Finland ' School of Industrial Engineering and Management, Lappeenranta University of Technology, P.O. Box 20, 53851 Lappeenranta, Finland
Abstract: Functioning technology markets can offer valuable opportunities, such as increased revenues for new ventures and existing companies in the markets. External technology commercialisation (ETC) is a crucial part of this. However, many companies seem to be unable to identify or reluctant to commercialise surplus technologies they do not commercialise internally. This phenomenon also limits the supply in technology markets. ETC is proven to improve company performance and openness. This study examines the ETC of surplus technologies in Russian manufacturing companies. It combines two methodological approaches by using survey data and a case study. It shows that ETC is a minor business in Russian manufacturing; however, the companies doing it are recognising the benefits. If ETC is an essential part of their strategy, it can increase the company's returns and spread of technologies. Companies conducting ETC also seem to be forerunners in many fields, such as interfirm cooperation and technology development and acquisition.
Keywords: external technology commercialisation; new product development; NPD; R&D; research and development; innovation; technology markets; technology acquisition; Russia; innovation management; technology transfer; manufacturing industry; interfirm cooperation.
International Journal of Technology Marketing, 2015 Vol.10 No.1, pp.4 - 24
Received: 16 Sep 2013
Accepted: 21 May 2014
Published online: 19 Nov 2014 *