Technology commercialization is an essential step for profiting from technological innovation. The Korean Government has supported technology commercialization; however, previous studies have provided limited empirical evidence on the effect of government support. This study examines the various factors that influence the commercialization strategy and performance of firms. It also identifies the determinants of successful technology commercialization and effective government programmes for commercialization performance by analysing the performance of Korean Government-sponsored firms. The results show that the determinants influence commercialization by firms according to the firm size and the degree of Korean Government support. The appropriability, innovative capabilities and investment in external R&D have significantly positive impacts on SME commercialization. This study provides empirical evidence on the effects of government support and contributes to the formulation of commercialization strategies and improved SME commercialization policy for firms.
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Kang et al. (2013) studied this question.
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