An organisation’s ability to innovate is recognised as a key factor for sustained growth, economic viability, increased wellbeing, and the development of society. The process of taking inventions from an idea or innovations to the marketplace or commercialisation can be quite challenging. Technology transfer is the process of transferring skills, knowledge, technologies, methods of manufacturing, samples of manufacturing and facilities among governments or universities and other institutions to ensure that scientific and technological developments are accessible to a wider range of users who can then further develop and exploit the technology into new products, processes, applications, materials or services.
The transfer of technology to parties capable of commercialisation may originate by technology push (from the research side) and market pull (from the industry side). Whilst many know what will differentiate an organisation from tomorrow’s competition, the reality however is that most organisations, particularly small and medium-sized enterprises (SMEs) find it difficult to understand what innovation is and how to commercialise it.
This standard is intended to fill the gap by providing a simple and practical approach for technology commercialisation. This standard covers the pre project phase to production phase right through to project launch and culminating in recommendations for continual improvement after the post market launch. While not all parts of this standard will be of equal use to all types of organisation, all core subjects are mostly relevant to every organisation.