Commercialization of startups transforms innovative ideas into marketable products or services, addressing challenges like business model design, target market identification, investment attraction, and resource management. This study examines these challenges and highlights differences between product and service commercialization. Leveraging social and digital technologies, the research emphasizes improving communication networks, customer engagement, and process efficiency. It also explores modern technology's role in supporting nonprofit organizations and NGOs. Key findings underline the importance of technology-driven marketing, intelligent financial management, and robust communication networks. This paper offers practical recommendations for startups and nonprofits to tackle commercialization challenges effectively.
Yarmoradian et al. (Wed,) studied this question.
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