Innovation and Technology Commercialization

Innovation and technology commercialization refer to the process of turning new ideas or technological advancements into products or services that can be sold in the market. This involves several stages, including research and development, testing, and production, as well as marketing strategies to reach potential customers. The goal is to bring useful innovations, like apps or medical devices, from the lab or concept stage into everyday use, benefiting society and generating economic growth. Successful commercialization helps organizations leverage their inventions to create value and meet market needs effectively.