Factors Affecting Technology Innovation and Its Commercialisation in Firms

Abstract

This article aims to form a comprehensive list of influential elements on technology innovation and its commercialisation in firms and furthermore categorises and ranks them to assist managers and technology entrepreneurs in their decision making. 46 elements are derived from the literature and are organised under nine major factors. Also, by the opinions of 108 computer science university professors and using Friedman test, they are ranked based on their importance. The results show that the top three factors are about the attitude of a firm toward technology innovation (‘support’, ‘knowledge’ and ‘technology’) while the least influential factor is the firm's ‘ideology’. The results would help managers to assess their firms’ abilities regarding technology innovation and its commercialisation an