High Technology Commercialisation: A Real Option Approach

Doctoral thesis English OPEN
Djokovic, Djordje
  • Subject: T1 | HF

The impact of uncertainty in the commercialization lifecycle of new technologies is a complex phenomenon. Technologies are research intensive and exposed to uncertainty regarding their successful development and functionality. Further these technologies have to be absorbed by volatile markets in order to be commercialized. These different forms of uncertainty are of primary importance for decision makers but have not been thoroughly studied in previous technology commercialization research and put under one theoretical framework. The main focus of this thesis is to comprehend the recently growing trend among universities and public research organizations to commercialize their research activities from an empirical and theoretical perspective. More particularly the thesis focuses on the life cycle of two main commercialization streams namely the entry and exit of university spinouts, which are companies that evolve from intellectual property developed within academic institutions as well as the licensing and licensing termination of inventions. The main focus of the thesis therefore analysesmarket and technological uncertainty and explains the conditions under which spinout formation, spinout failure, licensing and licensing failure occur by putting them under the theoretical framework of real option theory.
  • References (2)

    Table 9-5 License to License Termination Model Comparison (Historical vs. GARCH).................................................................................................. 222 Table 9-35: Variables in the Equation (INV2LIC, MU_INV and NUM_CLAIMS)...................................................................................... 262 DUMMY_MECH DUMMY_CHEM DUMMY_BIOPHARM DUMMY_MED NUM_TOTAL_REF NUM_CLAIMS IPC_NUM

    INV_PROJECT INV_PARTNER NUM_PREV_INV_1000 NUM_PREV_LIC NUM_PREV_TTO T_MU_INV

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