Commercialization Methods of a New Product/service in ICT Industry: Case of a Science & Technology Park

Abstract

Abstract Purpose: Commercialization is a step toward new products/services development. Due to high rate of product/service failure in ICT industry, the purpose of this paper is to study and evaluate commercialization methods implemented by companies that operate within ICT industry at the Science and Technology Park of University of Tehran. Design/Methodology/Approach: The methodology of this study is of field research type. After examining commercialization methods presented in the literature and confirming methods found by the discipline elite, structured interviews were conducted addressed managers and experts of ICT companies. Results: Three methods of “joint research contracts”, “exhibitions” and “spin-offs” are among the most common commercialization methods used by companies. Conclusion: Due to uncertainties that exist in ICT industry, companies should consider different strategies in order to develop successful products and services. Finally, specific policies are determined to implement each commercialization method in knowledge-based companies.