CHAPTER 8: SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
8.5 RECOMMENDATIONS
should include, among other players, ‘business angels’, venture capitalists, patent specialists, lawmakers, city planners, private companies and so on.
There is a need for the provision of institutional support to administer the risks associated with ineffective allocation, and usage of the already scarce commercialization funds.
Research institutes should make efforts to set up a one-stop centre for dissemination of information and “news” on commercialization efforts.
State policy makers should set up effective institutes specifically for monitoring and evaluating (M & E) commercialization successes and / or failures in both private and public institutes. These Commercialization Monitoring and Evaluation Institutes (CMEIs) should be permitted to operate independently and should be allowed to make recommendations for improvement based on their M & E findings.
The identification of determinants which can lead to successful commercialization of technological innovations in developing countries can indeed lead to the creation of sustainable economies in most third world African countries such as Zimbabwe. If successfully commercialized, technological innovations have the potential to create jobs, can provide an important example for researchers – both current and aspiring, and in turn boost the economic growth rate. For this reason, it is essential that educationists and policymakers recognize the need to embed commercialization training and skills development, when considering tertiary education strategy especially.
There is also need to consider awarding some incentives for commercialization. There is need to increase opportunities and rewards for commercialization institutions and individuals within them. It is also important to address disincentives such as finance allocation mechanisms, promotion criteria that discount external research commercialization. For instance shareholder options in spin off companies or retaining significant royalties from Intellectual Property (IP) to the research team are some of the ways researchers can be motivated to work towards commercialization.
International and regional networks need to be fully utilized.- Through the Research Council of Zimbabwe (RCZ), the country currently has linkages with counterpart Science and Technology organizations in other countries and memberships with the International Council of Scientific Unions, (ICSU), Common Wealth Science Council, Nam Centre for Science and Technology.
These organizations need to be utilized as they offer valuable support and expertise in sharing knowledge, which could go a long way especially in commercializing Zimbabwe’s innovations in foreign lands.
Research institutes should engage in demand-oriented research. The study ruled out the relationship between commercial success and understanding customer expectations but it remained firm in emphasizing the importance of enacting on customer expectations. It is thus pertinent that research institutes undertake research in areas that fit in areas of interest to business as they constitute the bulk of the up-takers of the innovations. It is also necessary to undertake research for a proven market because without a genuine market for the outcome of the research outcomes, success will remain rare.
Relevant members should be sent for commercialization exchange programmes.
Commercialization sabbaticals promote greater researcher and innovation mobility between different industries and also across various research institutes internationally.
Research institutes should engage in customer education programmes for the new technological innovations. This should be complemented by ensuring adequate and equitable distribution of the new products, taking into account the often overlooked rural market. As outlined in a study emerging from this thesis (Saruchera et al.,2014b), consumer awareness could be improved through:
o Trade fairs.
o The use of public information dissemination in print and electronic media.
o Engaging the industry in forums and workshops. Offer them “trial products” and encourage them to do some comparative experiments and give feedback, thus helping the marketing firms make improvements (adjustments) if need be.
o Making use of testimonials - why not use the satisfied consumer to convince another potential consumer?
This “market education” recommendation is made in line with Wood and Lynch, Jr. (2002:416) who empirically established that (prior) knowledge plays a critical role in new product learning thus in turn, enhancing (new) product adoption.
Recommendations emerging from the study’s participants or respondents include the following:
o There is a need for policy makers to implement favourable government policy that supports Research, Development and Commercialization (R & D – C), for instance by reducing tariffs on vital raw materials and equipment imports, improving accountability of the Innovation and Commercialization Fund, patent laws and intellectual property
protection administration, limiting or banning the importation of cheap, low quality finished substitutes and offering tax exemptions for new local products launched.
o The government should facilitate the development of technology incubation services such as Science Parks, Techno-Parks and Entrepreneurial Centres.
o Research institutes should establish Strategic Business Units (SBUs) specifically dedicated to commercialization activities. This will ensure the institutes have full-time personnel responsible for all marketing activities.
o Institutes should exhaust all promotional tools available to create awareness. They should fully utilize emerging social media communication platforms such as Facebook, Twitter and Whatsapp to create new product awareness.
o Research institutes should seek advice and learn from successful experience locally, regionally and / or internationally. Long established experiences from the USA, as illustrated in literature (Bremer, 2001; Mowery, et al., 2001), show that formalized policies that actively promote transfer of government funded innovations from research agencies to the private sector were put in place. The previously discussed Science and Technology Policy should thus be sensitive to the requirements of the research
institutions