COMMERCIALIZATION OF A NEW PRODUCT ON THE MARKET: SYSTEM OF INFLUENCE FACTORS

Commercialization of innovations contributes to the development of market relations and reflects their actual state. Despite the large number of publications on the commercialization of innovations, there are no works on the factors that positive influence to commercialization of innovations. The purpose of the work is the systematization of factors that facilitate to commercialization of innovations. Factors affecting the commercialization of innovations are systematized and divided into several groups: cultural (traditional and local knowledge, attitude to innovations, existing trends in society); market (low level of competition in the industry, readiness of the market to accept innovation, availability of analogues / similar products, etc.); socio-economic (low costs, high profitability of innovative activities, etc.); political (state incentives, state support for scientific, technical and innovative development of companies, low level of corruption, etc.); regulatory (changes in legislation, tax or budget systems, patenting of a newly created product, certification, open innovations, etc.); ecosystem factors (availability and access to resources, etc.); partnership (connections with existing external partners; acquisition of new business models, academic start-ups, presence of clusters and "technological spillovers", etc.); internal (availability of financial and material resources for commercialization of innovation, level of automation and development of business processes, etc.); marketing (marketing opportunities, effective marketing activities during market promotion, etc.). The study's results can be used in the formation of technology policy in developed and developing countries, where the need to encourage cooperation between public and private technology enterprises is the basis for growth and prosperity.