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R&D Management Conference: 3 - 6 July 2016

From Science to Society: Innovation and Value Creation

Studying at Cambridge

Science commercialization

Elicia Maine Science commercialization

Elicia Maine, Simon Fraser University

Commercializing science is not for the faint of heart. The high uncertainty, long timelines, and large amount of capital required prevent or delay commercialization of potentially high impact inventions in biotechnology, nanotechnology, and other scientific domains (Pisano, 2010; Maine, 2013). National Systems of Innovation are commonly measured through money committed to R&D and through patents generated (i.e. Porter and Stern, 2001; OECD, 2014). However, without strategies, policies and organizational innovation for commercializing science, scientific inventions are unlikely to create economic and social value (Maine, Lubik and Garnsey, 2012).