Commercialization strategies of technology: lessons from Silicon Valley

Science and technology incubators play an increasing role in contributing to the entrepreneurial, venture and economic development. This paper is concerned with the strategies for technology commercialization and supports of new venture development. The study has applied the cluster-based strategies of the US Silicon Valley to the case of Thailand. The findings highlight the role of the National Science and Technology Development Agency’s Science Park and the National Innovation Agency’s Innovation Park in supporting technology commercialization and development of the national innovation system. The future challenges to create effective system for entrepreneurial development and implications for entrepreneurial business management are discussed herein.