Commercialization of innovative products: international and national experience

Issue: № 11/3, 2020

Doi: https://doi.org/10.37634/efp.2020.11(3).5

Introduction. In modern highly competitive, dynamic and unstable conditions enterprises are able to function successfully in the marketplace and occupy leadership positions in large part due to developing, implementation and realisation of innovations. A high level of an innovative activity of enterprises creates preconditions for forming new competitive benefits, an increase of investment attractiveness, broadens possibilities of passage to new marketplaces, is an impulse for providing a progressive development. As practice shows, only a small part of innovations transforms in goods and services and is successfully commercialized due to its promotion in interested groups of consumers. That's why the problem of commercialization of innovative goods and services should be in field of view of society, government, private business, scientists because decision of this problem improves a competitive ability of goods and finely a level of population's life. The purpose of paper is an exploration of commercialization properties of innovative goods and services in foreign countries, detection of reasons of low level of commercialization of innovative goods and services by domestic enterprises. Results. It is considered a domestic and a worldwide experience of commercialization of high-tech goods and services of industrial enterprises in the context of Asian, American and European models of innovative development. It is particularly set that there in the USA, Europe and Asia the key role in development and implementation of high-tech goods and services play multinational companies, which quite often create venture companies in their structures. Besides, it is set that a venture capital is often concentrated in science parks, technopoles, business incubators and other innovative structures. It is proved that in the process of commercialization of high-tech goods and services is a governmental support of state, first of all, from positions of longevity of preferences, which are offered to subjects of innovative structures. It's also set that such kind of commercialization is successful when local properties of demand for new goods and services are taken into account. Regarding a domestic experience of commercialization of innovative goods and services, they should state that it has a quite low development. Conclusion. In this way, generalisation of domestic and foreign experience of commercialization of innovative goods and services shows that directions and ways of such commercialization are different and can have a different shape that is defined by local historical circumstances, traditions and national innovative politics in general.

Keywords : commercialization, innovative products, innovative activity, industrial enterprise, national experience, international experience

References:

1. Alekseev I.V., Kots O.O. The structure of the risk of STP and methods of its assessment. Business Inform. 2009. № 12. pp. 8–11. (in Ukrainian).

2. Androshchuk H.O. The National Innovation System of Finland: The formula for success. Science and innovation. 2010. № 6/4. pp. 93–107. (in Ukrainian).

3. Verbovska L.S., Vasylyshyn N.Ye., Berlous M.V. Intellectual property as an object of management at the enterprises of the region. Current problems of economic development of the region. 2014. № 10/1. pp. 36–42. (in Ukrainian).

4. Dunska A.R, Pashchenko M.S. Analysis of the current state of development of transnational corporations and the nature of their operation in Ukraine. Economic Bulletin of NTUU «KPI». 2016. № 13. pp. 92–99. (in Ukrainian).

5. Zavadiak R.I., Kapusiak Ya.F. Theoretical foundations of operation and types of business incubators in Ukraine. Scientific Bulletin of Uzhhorod University. Economics series. 2014. № 2. pp. 78–81. (in Ukrainian).

6. Kovryhyn E.B. Japan-China: Official development assiastance as a tool for economic cooperation. Spatial economics. 2012. № 3. pp. 9–33. (in Russian).

7. Kuzmin O.E., Lytvyn I.V. Venture capital organizations in mechanical engineering: types and trends. Current economic problems. 2009. № 1. pp. 126–135. (in Ukrainian).

8. Popadynets O.V., Plakhtii A.S. Venture business as an indicator of the state of protection of intellectual property rights in Ukraine. Global and national economic problems. 2016. № 21. pp. 44–48. (in Ukrainian).

9. Popova A.V., Hrynov R.I. Transnational corporations as a subject of international economic relations. International Student Scientific Bulletin. 2015. № 4–3. pp. 431–433. (in Russian).

10. Udaltsova N.l., Kozhanov E.N., Horbulina D.V. Japan’s innovative success: myth or reality? Issues of innovative economy. 2015. № 5/2. pp. 37–46. (in Russian).

11. Shklyaruk S.H. Basic principles of venture financing of innovative technologies. Scientific wotks MAUP. 2013. № 1. pp. 144–149. (in Ukrainian).

12. Foreign experience of state support of innovative small and medium enterprises. URL: http://www.vneshmarket.ru/ content/document_r_53C5CE2B-F73C-4DE2–9366–31DC6A60F4A8.html [Accessed September 06, 2020] (in Russian)

13. The Indian IT revolution. URL: http://indonet.ru/ statya/india-it-revolution [Accessed September 14, 2020]. (in Russian).

Download paper