Science Commercialization

Science and Technology (S&T) academia in India and Japan is increasingly building commercialization capabilities to resolve ‘grand challenges' faced by societies around the world by translating their research findings into innovative products (services). Extant literature describes this impact-creation pursuit of universities as the ‘third mission', in addition to the first two - teaching and research. However, only a few handful of academic institutions have been able to succeed in achieving the third mission, without compromising the first two. This investigation attempts to identify the critical success factors that could have enabled them to ensure the successful commercialization of their scientific research findings from academic labs to industrial markets. The article takes a literature review-based approach to analyse these critical success factors, understand their contextual significance and integrate them into a conceptual framework that can predict successful science commercialization.