innovation commercialization

Innovation commercialization is the process of transforming new ideas, inventions, or technologies into products or services that can be sold in the marketplace. It involves steps like developing a prototype, testing, securing patents, and creating a business strategy. The goal is to bring innovative concepts from the lab or idea stage to real-world use, generating economic value and meeting customer needs. Essentially, it’s turning creative innovations into tangible offerings that benefit both the creator and society through successful market introduction.