Innovation, Technology and Commercialisation in an SME Environment

This paper has a simple focus. It is based on the premise that innovation at its various levels is intertwined with the evolution of new technology and that the transfer of that technology (business to business or business to consumer) is achieved through the process of commercialisation. In taking a basic perspective the intention is to encourage those with an interest in these aspects of firm operations to not lose sight of the simplicity of the commercial arrangements that has seen humanity grow through technology transfer. It is also a reminder that a considerable proportion of the innovation that drives economic growth emerges from the activity of individuals or institutions and has done so successfully for many years without the intervention of governments and public research institutions. The paper proceeds with an initial discussion of the nature and interrelatedness of innovation, technology and commercialisation. A critique of the policy focus on innovation and its consequences for SMEs is then provided.