Commercialization Success in Early Stage Technology Companies
This research was performed for the Advanced Systems Institute under funding from the National Research Council. It investigated the barriers and success factors for commercialization in early stage technology development in British Columbia by interviewing forty-one successful technology companies.
Key Findings:
Key Milestones:
Acquiring a first customer
Validating the product
Acquiring partners
Acquiring investment
Managing costs
Getting regulatory approval or standards certification
Key Recommendations:
- Success driven by input from external advisors, both formal and informal
Dramatic growth in revenue by identifying a customer group with common characteristics and optimizing sales and marketing efforts