Technology Development and Commercialization: Concepts, Tools and Best Practices

Taking an idea to the marketplace is one of the most fundamental concepts in any economy. New ideas, innovations, and technologies fuel the advancement of societies, create wealth for populations, and motivate further entrepreneurial activity. Yet, research shows that only a small fraction of innovations ever result in successful market launches.

Technology Development and Commercialization is designed to help readers understand how to bring valuable technologies to market, quickly, effectively, and with greater impact. The book offers a broad framework for navigating this challenge by addressing the many management issues that shape the path from lab discovery to end-user adoption. It explains how commercialization strategies vary depending on an organization’s goals, the stage of development of the technology, and the specific dynamics of different industries.

The book also introduces practical tools and methods commonly used in the field. It explores emerging trends, including the increasing role of artificial intelligence in supporting aspects of the commercialization process. In preparing this volume, the authors interviewed over 30 leading professionals. These included technology transfer officers, entrepreneurs, investors, and corporate innovators. Their insights helped to enrich the book with strong real-world perspectives. The book also includes mini-cases that highlight the challenges, pivots, and decisions that shape successful commercialization efforts.

Designed to serve students, entrepreneurs, and professionals alike, this book delivers both foundational knowledge and actionable guidance. It will be a valuable resource for technology developers and evaluators, commercialization managers, technology transfer officers, investors, and innovation-focused government agencies.

Craig S. Galbraith is the Duke Progress Energy/Betty Cameron Distinguished Professor of Technology Management at the University of North Carolina Wilmington. With graduate degrees in both molecular biology and strategic management, he has worked in technology commercialization for decades. He was the Director of his university’s Technology Transfer Office and Entrepreneurship Center, and co-founder of several start-ups, including an early-stage biotechnology firm. Previously on the faculties of Purdue University and UC Irvine he has published eight books and over one-hundred academic articles. He is a consultant to technology firms and government technology transfer offices. Dr Galbraith is an active angel investor and holds a Certified Patent Valuation Analyst (CPVA).

Alex F. DeNoble is an Emeritus Professor of Entrepreneurship at San Diego State University where he was the Executive Director of the University’s Lavin Entrepreneurship Center. He has received a number of Department of Defense (DoD) grants and been the co-director of the Center for the Commercialization of Advanced Technologies (CCAT), which was responsible for funding and performing technology commercialization studies for hundreds of technologies. Dr. DeNoble works extensively with firms, government agencies, and private equity groups in the area of technology development and commercialization. He has published many articles examining technology strategies.