Entrepreneurial Businesses Commercialize New Technologies Research

With the rapid development of entrepreneurial SMEs and widely application of emergingtechnologies, new technology commercialization of entrepreneurial enterprises plays an importantrole in promoting breakthrough innovation transfer, forming new product-service model,improving independent innovation capacity and carrying forward the strategic emerging industries.By reviewing the related theories and literatures, concerning the study on entrepreneurialenterprises, technology entrepreneurship, emerging technology and technology commercialization,the paper describes the economic rationality and defines the connotation of the core point. On thisbasis, the paper puts forward a systematic research framework, which includes the theoreticalfoundation layer, the operating mechanism layer, the element characteristics layer and themulti-index evaluation layer. Analyzing the different layers and elements of the framework, theresearch designs the index evaluation and makes the empirical analysis. The main content of thepaper is as the following:Firstly, the features of limitation and flexibility, which can be muturally transformed, for theentreprenieual enterprises, can break down the restrictions of a "pig game". Analysis on theexpected pofit for the entreprenieual firms and the mature firms concludes that under whatconditions the commercializtion is the strategy better than the imitation.Secondly, in the perspective of internal management and external collaboration, the researchanalyzes the process mechanism on new technology commercialization of entrepreneurialenterprises, such as the management process model, the value creation model, the networkembedded model and the network governance model, which are from vertical and horizontal angle.Focus on the object of entrepreneurial firms and combination of internal and external study, thecharacteristics of the economic factors (technology, markets, capital, manpower and policy) andcapital factors (trust, cooperation, learning and communication) are also throughout themechanism models.Thirdly, in reference to the distinct types of product and collaboration for entrepreneurial firms,the research could classify the patterns and point out the importance of technologycommercialization. In the part of the internal management, the patterns involve one-wayapplication and two-way interaction. With the emphasis on batch production, the one-wayapplication pattern of entrepreneurial firms has the characteristics as technology-driven andshorter business cycle. With the emphasis on business model innovation, the two-way interactionpattern of start-up enterprises has the characteristics as market-driven and longer business cycle.In the part of the external coordination, the patterns refer to collaborative R&D and collaborative operation, which concern the industry-university-research cooperation and theupstream-downstream industrial chain cooperation. The business cooperative key point for the twotypes moves gradually from the front-end to the back-end of the industry chain.Fourthly, the research builds and tests the index evaluation system of commercializing ability ofentrepreneurial enterprises. On the basis of the "capacity-performance" conceptual framework andthe process mechanism, the index system has the target layer, the constraint layer and the indexlayer. Corresponding to the economic capacity elements and the social capital elements, theconstraint layer includes the internal business operational capacity, the external businesscooperative capacity and the performance. The weights of the layers in the index system aredetermined with the methods integrated of G1and entropy. Moreover, the index system is testedby the data of118companies in GEM.Finally, the analysis on the cases of four start-up enterprises, concerning Ningbo Wanglong,Tianjing Tasly, Shanghai Hanyin and Jiangsu Wootide, uses the means of time series, key eventsand matching patterns. From the internal managing mechanism and external coordinatingmechanism, the comparison of the four cases tests the theory the paper put forward andsummarizes some new points.