Commercialisation of new technologies in India: an empirical study of the perspectives of financial institutions. (1st January 2003)

• Record Type: Journal Article
• Authors: Kumar, Vimal; Jain, P.K.
• Is Part Of: International journal of services technology and management. Volume 4:Number 2(2003)
• Page Start: 103
• Page End: 130
• Publication Date: 2003-01-01
• Subjects: technology -- new technology -- technology commercialisation -- technology financing -- innovation -- technology development -- empirical study -- institutional arrangement -- experiences; Service industries -- Management -- Periodicals; Service industries -- Technological innovations -- Periodicals; 658.005
• Languages: English
• ISSNs: 1460-6720

Abstract

The importance of technology for the development and competitiveness of a nation is well established. Germany during the second half of the 19th century and thereafter the USA, European countries and Japan have demonstrated a development and growth in industry as well as the competitiveness of the nation through the application of technology. The re-orientation of existing financial institutions as well as the commissioning of new ones to finance and support the commercialisation of new technologies has played a very important role. In India, the commercialisation of new technologies made a real beginning during the 1980s with the establishment of venture capital funds and a few special funding/support mechanisms during the following years. Over the years, most of VCFs have drifted away to less risky projects. However, a good number of technologies have been commercialised and a number of practices as well as experiences have emerged. The authors have completed a detailed field research study covering industrial firms, technology institutions, financial institutions and policy/decision makers as well as facilitators (sample size 480 numbers). The financial institutions related part of the study is presented in this paper.