Commercialization is the process that converts ideas, research, or prototypes into viable products that retain the desired functionality, while designed them to be readily manufacturable at low cost and launched quickly with high quality designed in. Commercialization also involves formulating the manufacturing and supply chain strategies, devising implementation plans, and implementing such plans. Commercialization may be a necessary step for commercial success for innovations coming from startup ventures or company research efforts (see below for discussions on how not to do commercialization).
- To implement strategies for the management and protection of intellectual property (IP) from discovery to the extent commercialization
- Promote and encourage the commercialization and technological expertise through smart partnerships between researchers and entrepreneurs for sustainable technology transfer
- Generating awareness and creating opportunities for intellectual property, among researchers and the importance of their contribution towards national development.