Academic journal article Asian Social Science

Conception, Technology and Methods of Development of University System of Innovation Projects Commercialization Based on Effectuation

Academic journal article Asian Social Science

Conception, Technology and Methods of Development of University System of Innovation Projects Commercialization Based on Effectuation

Article excerpt

Abstract

This paper is concerned with the problems of effectuation using innovation management for high-tech start-ups in the case of MEPhI. As a rule we are talking about successful projects developing in University context taking into consideration methods of effectuation and tutoring for their finalization. The object of investigation is the innovation project life-cycle development methods applied to the effectuation methods and techniques.

Using effectuation approach we could tell also about life-cycle of successful small and medium enterprises based on innovation project's development using some technologies of effectuation on each stage of life-cycle. The correct and appropriate methods of effectuation are important for venture investment's decision making in uncertain environmental conditions.

The authors are proposed some improved methods of commercialization process of perspective innovative projects in the context of effectuation.

Taking into account the author's experience in innovation projects commercialization, some methods of promotion and successful innovations planning in the case of ectuation are considered.

Keywords: effectuation, ectuation, commercialization, project's life-cycle, innovation management, promotion, forecasting, foresight, tutoring, educational system, IP (intellectual property)

1. Introduction

1.1 Definition of Effectuation

Effectuation could be recognized as logic of thinking as based on entrepreneurial activity and scientific researches using experts experience in entrepreneurship for creation of successful venture projects. (Sarasvathy, 2003). Some leader experts are recognizing effectuation as one of the most effective methods of scientific-oriented approach to business creation and entrepreneurial persons growing (Sarasvathy et al., 2014).

Making some efforts to successful idea realization entrepreneurs are not always able to observe a number of really effective methods of effectuation. Methods of effectuation help entrepreneurs and other stakeholders to assess future business and its attractiveness but in future. We consider that some methods of effectuation could be successfully implemented into the educational process in some disciplines on the innovation management and entrepreneurship to grow alertness in students and effective business idea planning (Dew et al., 2009).

Effectuation by our opinion is very close to the theory of entrepreneurship and management taking into consideration best practices of successful innovation projects commercialization (Read et al., 2009). Based on conception of effectuation really innovative methods of education are developed nowadays. By our opinion this direction is very fruitful especially in future growing uncertainty markets, for expenses reductions and profits growing.

We consider that it is possible to develop effective system of effectuation in the case of University for fast innovation growing spin-offs development and therefore the competitiveness and ranking of University increasing.

But it is necessary to accurately embed effectuation methods into the system of innovations development and commercialization of the University. We consider the implementation of the project-oriented approach to innovation management using systems analysis methods in life-cycle investigation issues.

1.2 Effectuation Experience in Universities

By the authors of this article experience it could be noted that entrepreneurial universities are making strong and sustainable policies and mechanisms for the entrepreneurship development, spin-off creation, consulting services for start-ups teams.

Considering universities as the centers of knowledge, spin-offs creation and effectuation we make announcement the importance of high-tech start-ups creation process in the context of universities network.

It is possible to observe best practices of innovation project creation and commercialization in the cases of leader innovation European Universities. …

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