Evaluating the Commercial Potential of Original Technologies in Universities

Abstract

Since 2010, Ministry of Science and Technology (MOST) and Academia Sinica in Taiwan have formulated the Germination Program to translate important scientific discoveries into innovative developments. Using actual cases, this study aimed to propose a technology evaluation framework consisting of a hybrid fuzzy multi-criteria decision making (fuzzy MCDM) approach to evaluate and prioritize the optimal alternatives with best commercial potential. The fuzzy Delphi method was first used to determine the three dimensions and nine important decision criteria. Next, the fuzzy analytic hierarchy process (fuzzy AHP) results indicated that the top three dimensions are accordingly "technological innovation", "business development" and "operating management". The top three important criteria are "technological origins", "potential impact" and "technological competence" respectively. Finally, the fuzzy technique for order preference by similarity to ideal solution (fuzzy TOPSIS) results revealed that T2 and T4 are the two optimal alternatives with best commercial potential for further funding and commercialization. The proposed technology evaluation framework could serve as a reference to both government administrative agencies and university practitioners for the future evaluation of commercializing original technologies.