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영어

This paper firstly explores characteristics of technology commercialization in Korean firms based on a survey that was developed along theories of technology commercialization and technological innovation. This study characterizes each sub-process - imagining, incubating, and demonstrating phase - of technology commercialization process according to Jolly (1997). We developed a variety set of indicators to measure characteristics of technology commercialization in both firm and project level, and examined the characteristics of technology commercialization in Korean firms under four dimensions such as ① innovation characteristics at three sub-processes of technology commercialization ② attributes of technologies and products targeted for commercialization ③ acquisition of technologies targeted and cooperative partners for commercialization ④ corporate capabilities for commercialization. 366 respondents completed the survey that includes information on 496 technology commercialization projects, which amounts to the response rate of 21.7%. The paper suggests managerial and policy implications for the improvement of the success rate and the policies designed to promote the technology commercialization in the private sector. First, Korean firms need to build corporate capabilities for commercialization in terms of in-house expert and mobilization of funds. Second, technologies at early stages need to be commercialized in order to create bigger value-added. Third, more active networking with various partners are strongly recommended. Fourth, proof-of-concept program needs to be introduced in order to increase survival rate of technology commercialization. Last, required funds at each sub-process needs to be provided through various funding sources.