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Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2023-08-20  |  Accepted: 2023-11-12  |  Published: 2023-12-30

Title

Commercialization of Ukrainian & Slovak scientific research: facets and implementation algorithm


Abstract

The article emphasizes the need to develop entrepreneurship in the academic environment to commercialize the scientific research results as one of the possible directions. The problems that prevent Ukrainian and Slovak scientists from commercializing their scientific developments are highlighted, classified, and described in detail, and recommendations are proposed for solving these problems. The commercialization of scientific research is based on transforming scientific developments into profitable commercial products or services that can be successfully introduced to the market. The study examines various aspects of commercialization, including evaluating the commercial potential of scientific research, developing business models, finding investors and partners, intellectual property, marketing innovations, and sales. The elements of innovative ecosystems of different countries and Ukraine are described. Various algorithms for commercializing scientific research are suggested and scrutinized, including specific steps scientists must perform to introduce their developments to the market successfully. The difference in commercialization processes in Ukraine and economically developed countries is demonstrated. A business commercialization algorithm is proposed, which assumes that the first step is to analyse the demand for innovation. It has been proven that projects developed under the market's needs today and in the future are more effective for commercial use. Hence, this approach provides better opportunities for attracting investments, creating strategic alliances with the industrial sector, and increasing effective commercial projects. Recommendations suggested by the authors can help Ukrainian and Slovak scientists commercialize their scientific works more effectively, which will positively impact economic development.


Keywords

commercialization of knowledge, technology transfer, entrepreneurial university, commercialization algorithm


JEL classifications

F63 , O31 , O34


URI

http://jssidoi.org/jesi/article/1135


DOI


Pages

184-198


Funding

This research was funded by the EU Next Generation EU through the Recovery and Resilience Plan for Slovakia under the project No. 09I03-03-V01-00133

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Yermachenko, Volodymyr
Bratislava University of Economics and Management, Bratislava, Slovakia http://www.vsemba.sk
Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine https://www.hneu.edu.ua
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Hrebennyk, Natalia
Odessa National University of Economics, Odessa, Ukraine http://oneu.edu.ua
Articles by this author in: CrossRef |  Google Scholar

Litvinov, Oleksandr
Odessa National University of Economics, Odessa, Ukraine http://oneu.edu.ua
Articles by this author in: CrossRef |  Google Scholar

Klus, Martin
Bratislava University of Economics and Management, Bratislava, Slovakia http://www.vsemba.sk
Articles by this author in: CrossRef |  Google Scholar

Podmanická, Daniela
Bratislava University of Economics and Management, Bratislava, Slovakia http://www.vsemba.sk
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

11


Number

2


Issue date

December 2023


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 514  |  PDF downloads: 245

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