xi LIST OF CONTENT ABSTRACT ii ABSTRAK iv ACKNOWLEDGEMENTS x LIST OF CONTENT xi LIST OF FIGURES xiv LIST OF TABLES xvi CHAPTER I Introduction 1 I.1 Background 2 I.1.1 Entrepreneurial mission and emergence of Commercialization Wave 3 I.1.2 The impact of technology commercialization 6 I.1.3 The challenges of technology commercialization 9 I.1.4 University challenge 12 I.1.5 Technology commercialization initiative in Developing Countries 14 I.1.6 Indonesia context 16 I.2 Problem statement 18 I.3 Research Objectives 19 I.4 Research Questions 19 I.5 Research Contribution 19 I.6 Key Assumption and Research Limitations 20 I.7 Novelty and Originality 20 I.8 Writing structure 20 CHAPTER II Literature review 21 II.1 Technology commercialization 21 II.1.1 Defining technology commercialization 21 II.1.2 Technology commercialization and innovation 24 xii II.1.3 Linear and Interactive Model of Innovation 27 II.1.4 Dimension of technology commercialization at university 29 II.1.5 Successful technology commercialization 31 II.1.5 Readiness level of technology commercialization 33 II.2 Technology commercialization in university 37 II.2.1 Commercializaion channel in university 38 II.2.2 Stakeholders of technology commercialization at university 45 II.2.3 Factors influencing technology commercialization in university 55 II.2.4 Policies and supports for technology commercialization at university 63 II.2.5 Technology commercialization model in university 65 II.2.6 Research State of the Art 78 II.3 Underlying theory 79 II.3.1. Institutional theory 79 II.3.2. Stakeholder theory 81 II.3.3. Innovation system 86 II.3.4. Syntesis of underlying theory 90 CHAPTER III Research Methodology 93 III.1 Introduction 93 III.2 Research Philosophies and Approach 93 III.3 Data and Research Methods 96 III.3.1 Research Strategies 96 III.3.2 Research Option 97 III.3.3 Research Analysis 98 III.3.4 Time Horizons 99 III.3.5 Sources and methods of Determining Data 99 III.3.5 Model Development 102 III.3.7 Reliability and Validity Tests 103 xiii III.3.8 Triangulation Method 106 III.4 Ethical Considerations 106 CHAPTER IV Data and Findings 107 IV.1 Technology commercialization in ITB: An Introduction 107 IV.2 Organization of technology commercialization in ITB 108 IV.3 Existing commercialization model in ITB 114 IV.4 Case study of successful commercialization initiative in ITB 115 IV.4.1 Lightning protection technology 115 IV.4.2 Kazee intelijen 119 IV.4.3 Prostetic arm 121 IV.4.4 Masaro technology 124 IV.4.5 Catalyst 127 IV.4.6 Portable ventilator 129 IV.4.7 NIVA technology 132 CHAPTER V Analysis and Discussion 140 V.1 Practical model of technology commercialization at university 140 V.2 Integrated policies and supports 145 III.3.1 Spin-off 145 III.3.2 Licensing 153 III.3.3 Joint operation 156 III.3.4 Joint venture 158 V.3 Management implication 161 V.4 Limitation of the research 162 CHAPTER VI Conclusion 163 REFERENCE 168 APPENDICES 175 xiv LIST OF FIGURES Figure I.1. Benefit of technology commercialization 7 Figure I.2. Transferring technology created by academia into market or industry is a challenge in technology commercialization 11 Figure I.3. Financial constraint as main challenge of university in the word 12 Figure I.4. Potential channel for revenue stream of university 14 Figure I.5. Commercialization performance in ITB (LPIK-ITB, 2022) 17 Figure II.1. Research and development process 22 Figure II.2. Technology commercialization can be driven by market needs (market pull) or the technology itself (technology push) 28 Figure II.3. Interactive model of technology commercialization, linking between technology push and market pull 29 Figure II.4. Theoretical framework of technology commercialization in university (Adopted from Han, 2017 and Abbas et al., 2018) 31 Figure II.5. Valley of death 32 Figure II.6. Implementation of TRL in product 34 Figure II.7. Categorization of commercialization channels in university 39 Figure II.8. Schematic explanation of technology incubator (Wonglimpiyarat, 2016) 49 Figure II.9. Relationship between global, national, regional, sectoral, and technological system of innovation (Frenz and Oughton, 2005, on Asheim et al, nd) 89 Figure II.10. Synthesis of the underlying theories 90 Figure III.1. The research onion (Saunders, Lewis, & Thornhill, 2019) 93 Figure III.2. Abductive research process (Spens and Kovac, 2005) 95 Figure III.3. Research design 98 Figure III.4. Recurcive nature of practical and theoretical expertise inherent in applied discipline theory building (Swanson & Chermack, 2013) 102 Figure III.5. Categorization of theory 103 Figure IV.1. Patent publishing of ITB (https://www.derwentinnovation.com/) 107 Figure IV.2. Commercialization strategy of the innovation products in ITB (LPIK, 2023) 108 xv Figure IV.3. Licensing process flow in ITB (LPIK, 2023) 110 Figure IV.4. Process to support spin-off development in ITB (LPIK, 2023) 110 Figure IV.5. Pre-incubation journey (LPIK, 2023) 111 Figure IV.6. Business incubation program in ITB (LPIK, 2023) 111 Figure IV.7. Role of RII (RII, 2023) 113 Figure IV.8. General mechanism of technology commercialization process in ITB (author’s elaboration) 114 Figure IV.9. Blueprint of technology commercialization in ITB using TRL concept (RII, 2023) 115 Figure V.1. Technology commercialisation model of Indonesian university, a case study from ITB (Dzakiy et al, 2024) 143 Figure V.2. Proposed Integrated Policy and Support for University Spin-offs Based on their Growth Stage 153 xvi LIST OF TABLES Table I.1. Category of university (Etzkowitz, 2004) 4 Table I.2. Challenges or barriers of technology commercialization in university 11 Table I.3. Comparison number of patents in Indonesia with other countries (WIPO) 16 Table I.4. Comparison between registered patent and licensed patent in LIPI/BRIN (Compiled by Rochman, 2018) 17 Table II.1. Previous definition of technology commercialization 24 Table II.2. Difference between technology push and market pull (Ameka and Dhewanto, 2013) 29 Table II.3. TRL Indicator 33 Table II.4. Innovation Readiness Level 37 Table II.5. Comparison between university and company (Meyer Jr., 1982 in Wagner et al., 2014) 38 Table II.6. Role of inventor from previous literature 57 Table II.7. Key success factors of technology commercialization in university combined with its dimension 60 Table II.8. Framework of technology commercialization process in university 68 Table II.9. Comparison of the existing literature with the research 79 Table II.10. Type of innovation system 87 Table II.11. Interaction between formal and informal elements of the innovation system 88 Table III.1. Steps of case study for theory building (Eisenhardt, 1989) 96 Table III.2. Primary data collection 101 Table III.3. Validity and reliability of the content analysis (Spens and Kovacs, 2006) 104 Table IV.1. Comparison between the case study 136 Table V.1. Existing policy and support for university spin-offs based on their growth stage 148 Table V.2. Existing policy and support for licensing 155 Table V.3. Proposed integrated policy and support for licensing 155 Table V.4. Existing policy and support for joint operation 157 xvii Table V.5. Proposed integrated policy and support for joint operation 157 Table V.6. Existing policy and support for joint venture 159 Table V.7. Proposed integrated policy and support for joint venture 159 Table V.8. Management implication of technology commercialization at university 161.