The Product Market and the Market for “Ideas”: Commercialization Strategies for Technology Entrepreneurs

Research Policy 32 (2003) 333350

The product mercenaryise and the market for ideas: commercialization strategies for technology entrepreneurs
Joshua S. Gans a , Scott Stern b,?,1
a

Melbourne Business shoal and Intellectual Property Research Institute of Australia, University of Melbourne, Melbourne, Australia b Kellogg teach of Management, Northwestern University, Evanston, IL 60208, USA

Abstract This paper presents a man-made manikin identifying the central drivers of start-up commercialization strategy and the implications of these drivers for industrial dynamics. We sleeper strategy to the commercialization environmentâ€"the microeconomic and strategic conditions lining a ?rm that is translating an idea into a value proposition for customers. The framework addresses why technology entrepreneurs in some environments undermine accomplished ?rms, while others cooperate with incumbents and reinforce existing market power. Our analytic thinking suggests that competitive interaction between start-up innovators and established ?rms depends on the strawman or absence of a market for ideas. By think on the operating requirements, ef?ciency, and institutions associated with markets for ideas, this framework holds several implications for the management of high-technology entrepreneurial ?rms.



© 2002 Elsevier Science B.V. All rights reserved.
Keywords: Product market; Commercialization strategies; engine room entrepreneurs; Ideas market; Appropriability

1. Introduction The past two decades have witnessed a dramatic increase in investment in technology entrepreneurshipâ€" the founding of small, start-up ?rms developing inventions and technology with signi?cant effectiveness commercial application. Because of their youth and small size, start-up innovators usually have little pose in the markets for which their innovations are nearly appropriate, and they have at most two or three technologies at the stage of potential market introduction. For these ?rms, a key...If you want to get a profuse essay, order it on our website: Orderessay



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