Commercialisation patterns of scientific knowledge in traditional low- and medium-tech industries

Paul J. Woodfield, Yat Ming Ooi and Kenneth Husted

Technological Forecasting and Social Change, 2023, vol. 189, issue C

Abstract: Research on technology commercialisation and science–industry interactions overlooks the specificity of connections between science and traditional low- and medium-technology (TLMT) industries. The few studies on science-based innovation in TLMT industries focus on barriers to investing, accessing, and creating value from science. This is problematic as TLMT industries exhibit different innovation patterns compared to high-tech and science-based industries. Therefore, we focus on the patterns arising from technology commercialisation processes utilised by TLMT firms to create value from scientific knowledge and technology. We used a qualitative multiple case study design and identified four types of commercialisation patterns in TLMT industries: scientification, optimising nature, orchestration, and technification. Our typology contributes to research in traditional industries and technology commercialisation by demonstrating firms' commercialisation patterns and the diverse ways in which they capture value within TLMT industries.

Keywords: Traditional industries; Technology commercialisation; Business model; Value creation; Innovation; Knowledge (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:189:y:2023:i:c:s0040162523000343

DOI: 10.1016/j.techfore.2023.122349

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