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A model for assessing the commercial potential of high technologies

Vaida Zemlickiene (), Raimonda Bubliene and Arturas Jakubavicius
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Vaida Zemlickiene: Vilnius Gediminas Technical University, Lithuania
Raimonda Bubliene: Vilnius Gediminas Technical University, Lithuania
Arturas Jakubavicius: Vilnius Gediminas Technical University, Lithuania

Oeconomia Copernicana, 2017, vol. 8, issue 4, 29-54

Abstract: Research background: technology development and its application for human activities — R&D — have been recognized as the basis of economic performance, a source of technological solutions and of high value-added supply both in scientific literature as well as in the strategic documents of the Government and international organizations. In order to ensure the harmonious activity of the institutions engaged in R&D and to reduce the uncertainty of the commercialization of technologies, an advanced tool for verifying decisions on technology development at early stages of commercialization, i.e. an instrument for assessing the commercial potential of technology, is needed. Over the last decade, the analysis of the tools on a global scale led to the unequivocal conclusion — so far developed methodical basis has suffered from lack of maturity for its practical use in business, a need for assessing commercial potential at an early stage of technology commercialization has been ignored, and the assessment of commercial potential has not considered the specificity of high technology. Purpose of the article: This article discusses in detail the preparation and application pro-cesses of the model for assessment the commercial potential of high technologies. Methods: in the model the multiple criteria method is applied the selection of which was determined by the motive related to the goal of assessment — assess the commercial potential of high technologies. Findings & Value added: The essence of scientific novelty embraces the creation of a qualitatively new, original, science-based model for assessing the commercial potential of technologies thus flexibly applying it to assessing different levels of technologies. The original model is based on: the focus on the specificity of high technologies in assessment the commercial potential of technologies; the focus on the early stage of technology commercialization by assessing the commercial potential of technologies; flexibility in the application of the model taking into account the technological level, legal status, opportunity to assess the commercial potential of technologies in different countries and institutions; mathematical calculations based on assessing commercial potential.

Keywords: high technologies; assessing the commercial potential; multiple criteria decision making method (search for similar items in EconPapers)
JEL-codes: O32 (search for similar items in EconPapers)
Date: 2017
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