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Fostering innovation commercialization at research institute and university: strategy and policy implications

Global economic development is moving towards a new era with knowledge as its foundation. Enterprises will be able to succeed in the competitive markets only if they can apply the knowledge and technology quickly in the innovation of the industries and the commercialization of products. Research institutions and universities are important sources of innovation and development, and they are also charged with the important mission of providing support for economic development. However, the development of the commercialization of research results and formation of new startup companies have not been as active and market oriented in Taiwan. The purpose of this study is to explore the current status and issues of technology development activities among the industrial, academic and governmental sectors to promote the research results commercialization (or start-ups) in Taiwan. This study evaluates the policy implication of the results commercialization including National Science Council and Small and Medium Business Agency in Taiwan. The results found the commercialization development is not active because of less market oriented in the early-stage of R&D. Besides, the technology is weak correlated with industry development needs. The suggestions of this study are 1) using the industry information map to be the base of technology R&D investment. 2) Enhancing the early stage germination activities to make the R&D project success.