Determinants of successful technology commercialization: implication for Korean Government-sponsored SMEs

Technology commercialization is an essential step for profiting from technological innovation. The Korean Government has supported technology commercialization; however, previousstudies have provided limited empirical evidence on the effect of government support. Thisstudy examines the various factors that influence the commercialization strategy andperformance of firms. It also identifies the determinants of successful technologycommercialization and effective government programmes for commercializationperformance by analysing the performance of Korean Government-sponsored firms. Theresults show that the determinants influence commercialization by firms according to thefirm size and the degree of Korean Government support. The appropriability, innovativecapabilities and investment in external R&D have significantly positive impacts on SMEcommercialization. This study provides empirical evidence on the effects of governmentsupport and contributes to the formulation of commercialization strategies and improvedSME commercialization policy for firms.