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Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance
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Seoung-Pyo Jun (Technology Commercialization Analysis Center, Korea Institute of Science and Technology Information)
Daeheon Choi (College of Business Administration, Kookmin University)
Hyun-Woo Park (Technology Commercialization Analysis Center, Korea Institute of Science and Technology Information)
Bong-Goon Seo (Graduate School of Business IT, Kookmin University)
Do-Hyung Park (College of Business Administration / Graduate School of Business IT, Kookmin University)
Vol. 23, No. 2, Page: 139 ~ 160
http://dx.doi.org/10.13088/jiis.2017.23.2.139
Keywords
Technology Commercialization, Technology Valuation, Cost of Commercialization, Duration of Commercialization, Technology Investment
Abstract
Technology commercialization creates effective economic value by linking the company's R & D processes and outputs to the market. This technology commercialization is important in that a company can retain and maintain a sustained competitive advantage. In order for a specific technology to be commercialized, it goes through the stage of technical planning, technology research and development, and commercialization. This process involves a lot of time and money. Therefore, the duration and cost of technology commercialization are important decision information for determining the market entry strategy. In addition, it is more important information for a technology investor to rationally evaluate the technology value. In this way, it is very important to scientifically estimate the duration and cost of the technology commercialization. However, research on technology commercialization is insufficient and related methodology are lacking.
In this study, we propose an evaluation model that can estimate the duration and cost of R & D technology commercialization for small and medium-sized enterprises. To accomplish this, this study collected the public data of the National Science & Technology Information Service (NTIS) and the survey data provided by the Small and Medium Business Administration. Also this study will develop the estimation model of commercialization duration and cost of R&D performance on using these data based on the market approach, one of the technology valuation methods. Specifically, this study defined the process of commercialization as consisting of development planning, development progress, and commercialization. We collected the data from the NTIS database and the survey of SMEs technical statistics of the Small and Medium Business Administration. We derived the key variables such as stage-wise R&D costs and duration, the factors of the technology itself, the factors of the technology development, and the environmental factors. At first, given data, we estimate the costs and duration in each technology readiness level (basic research, applied research, development research, prototype production, commercialization), for each industry classification. Then, we developed and verified the research model of each industry classification.
The results of this study can be summarized as follows. Firstly, it is reflected in the technology valuation model and can be used to estimate the objective economic value of technology. The duration and the cost from the technology development stage to the commercialization stage is a critical factor that has a great influence on the amount of money to discount the future sales from the technology. The results of this study can contribute to more reliable technology valuation because it estimates the commercialization duration and cost scientifically based on past data. Secondly, we have verified models of various fields such as statistical model and data mining model. The statistical model helps us to find the important factors to estimate the duration and cost of technology Commercialization, and the data mining model gives us the rules or algorithms to be applied to an advanced technology valuation system. Finally, this study reaffirms the importance of commercialization costs and durations, which has not been actively studied in previous studies. The results confirm the significant factors to affect the commercialization costs and duration, furthermore the factors are different depending on industry classification. Practically, the results of this study can be reflected in the technology valuation system, which can be provided by national research institutes and R & D staff to provide sophisticated technology valuation. The relevant logic or algorithm of the research result can be implemented independently so that it can be directly reflected in the system, so researchers can use it practically immediately. In conclusion, the results of this study can be a great contribution not only to the theoretical contributions but also to the practical ones.
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기술가치 평가를 위한 기술사업화 기간 및비용 추정체계 개발
전승표 (한국과학기술정보연구원 기술사업화분석센터)
최대헌 (국민대학교 경영대학)
박현우 (한국과학기술정보연구원 사업기획분석실)
서봉군 (국민대학교 BIT 전문대학원)
박도형 (국민대학교 경영대학/비즈니스 IT 전문대학원)
Keywords
기술사업화, 기술가치 평가, 기술사업화 소요 기간, 기술사업화 소요 비용, 기술투자
Abstract
기술사업화는 기업의 연구개발 과정 및 결과물을 시장에 효과적으로 연계하여 경제 가치를 창출하는 것을의미한다. 거시적인 관점에서 보면 기술사업화는 국가수준의 R&D 효과성을 강화할 수 있으며, 관련된 산업의발전을 촉진할 수 있다. 또한, 미시적인 관점에서 보면 기업이나 개인들은 기술사업화를 통해서 경쟁우위를 확보하고, 유지할 수 있다. 특정 기술이 사업화까지 이르기 위해서는 기술 기획, 기술의 연구와 개발, 상용화 즉시장 진출까지의 크게 세 단계를 거치는 게 일반적이며, 이런 일련의 과정은 많은 시간과 비용을 수반한다. 따라서 연구개발 착수에서 상용화까지 소요되는 기술사업화 기간과 비용은 기업 입장에서는 시장 진출 전략을 결정하는 데 중요한 의사결정 정보가 되며, 기술 투자자에게는 기술가치를 합리적으로 평가하는데 더욱 중요한정보가 된다. 이렇게 중요한 기술사업화 소요 기간과 비용을 과학적으로 추정하는 것은 매우 중요하지만 현재까지 이런 두 가지 정보에 대한 연구는 매우 부족한 실정이며, 널리 알려진 방법론도 부재한 상황이다. 본 연구의 목적은 기술사업화 기간과 비용을 추정하는 체계를 설계하고 이를 실제 기업데이터를 활용하여 개발하는 것이다. 구체적으로 특정 기술의 기술 자체의 요인, 기술개발 주체의 역량, 외부 환경 요인의 세 관점에서 어떤요인들이 기술사업화 기간 및 비용에 영향을 주는지 도출하고, 해당 요인들의 수준에 따라 기술사업화 기간 및비용을 제시하는 모형을 개발하고자 한다. 본 연구의 결과는 기술을 개발하는 주체와 기술을 투자하는 주체 모두에게 유용하게 활용될 것으로 기대된다.
Cite this article
JIIS Style
Jun, S.-P., D. Choi, H.-W. Park, B.-G. Seo, and D.-H. Park, "Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance", Journal of Intelligence and Information Systems, Vol. 23, No. 2 (2017), 139~160.

IEEE Style
Seoung-Pyo Jun, Daeheon Choi, Hyun-Woo Park, Bong-Goon Seo, and Do-Hyung Park, "Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance", Journal of Intelligence and Information Systems, vol. 23, no. 2, pp. 139~160, 2017.

ACM Style
Jun, S.-P., Choi, D., Park, H.-W., Seo, B.-G., and Park, D.-H., 2017. Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance. Journal of Intelligence and Information Systems. 23, 2, 139--160.
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@article{Jun:JIIS:2017:694,
author = {Jun, Seoung-Pyo and Choi, Daeheon and Park, Hyun-Woo and Seo, Bong-Goon and Park, Do-Hyung},
title = {Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance},
journal = {Journal of Intelligence and Information Systems},
issue_date = {June 2017},
volume = {23},
number = {2},
month = Jun,
year = {2017},
issn = {2288-4866},
pages = {139--160},
url = {http://dx.doi.org/http://dx.doi.org/10.13088/jiis.2017.23.2.139 },
doi = {http://dx.doi.org/10.13088/jiis.2017.23.2.139},
publisher = {Korea Intelligent Information System Society},
address = {Seoul, Republic of Korea},
keywords = { Technology Commercialization, Technology Valuation, Cost of Commercialization, Duration of Commercialization and Technology Investment },
}
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%1 694
%A Seoung-Pyo Jun
%A Daeheon Choi
%A Hyun-Woo Park
%A Bong-Goon Seo
%A Do-Hyung Park
%T Development of Systematic Process for Estimating Commercialization Duration and Cost of R&D Performance
%J Journal of Intelligence and Information Systems
%@ 2288-4866
%V 23
%N 2
%P 139-160
%D 2017
%R http://dx.doi.org/10.13088/jiis.2017.23.2.139
%I Korea Intelligent Information System Society