Examining the Factors Affecting the Localization of Technology Commercialization with a Focus on Technology-Based and Knowledge-Based Companies

Abstract

Technology commercialization, as the linking mechanism between knowledge and the market, plays a fundamental role in realizing a knowledge-based economy and creating sustainable value for technology-oriented firms. Despite the significant growth of technological activities in the country, the localization of the technology commercialization process continues to face numerous challenges. The present study was conducted with the aim of identifying and explaining the factors influencing the localization of technology commercialization, with a focus on technology-based and knowledge-based companies. In terms of purpose, this study is applied research, and in terms of methodology, it follows a descriptive–survey design. The statistical population consisted of knowledge-based companies located in the Isfahan Science and Research Town, and data were collected using a researcher-developed questionnaire. Structural equation modeling and SmartPLS software were employed for data analysis. The findings indicated that strong technological capability, market foresight, and customer experience and demands have a positive and significant effect on technology commercialization, whereas market needs recognition and technological innovation did not show a significant effect. Furthermore, technology commercialization has a significant impact on outcomes such as market development, profitability, creation of competitive advantage, customer satisfaction, self-sustaining production, and market leadership, as well as on strategies such as marketing and sales, branding, product standardization, export strategy formulation, and the utilization of emerging technologies. The research findings emphasize the necessity of strengthening technological capabilities and adopting a future-oriented perspective in the localization of technology commercialization.