A System Towards Commercialisation

With the development of the world market as it is today in with its expanse, customer base and variety, we should have a much larger injection of new technology. This may be in the form of new services, products, processes, etc. However, even with the market at its most expansive yet seen we are still only seeing around a 5% take-up of these new technologies. Extensive work has been carried out in the fields of project management and risk assessment that are being utilised that will be able to provide a base to work from. It is apparent though that they don´t go into the depth of new technologies but rather work from existing technologies and concentrate on refinement rather that new innovation. As a result no great understanding of the different intertwined problems associates with new technologies has been developed and as such they continue to suffer a high mortality rate. An in-depth look at these problems and the development of a frame work or decision model to overcome them will enhance the possibilities of success for new technologies. This decision model will also be an invaluable tool for incremental changes with existing technologies, being the most common type of innovation that we are seeing in the market place today.