Skin Elements Ltd-The Importance of Knowledge Management in Commercialisation

Abstract

This Chapter examines the case of Skin Elements Ltd., a Biotech start-up enterprise that successfully created, manufactured and commercialised an innovative skincare technology into a global market. The principal focus of this case study is on the role played by knowledge management and how this shaped the innovation strategy that saw the technology successfully commercialised and positioned within the global natural skin caremarket. The chapter examines the process of commercialisation, and demonstrates how knowledge management (KM), open innovation (OI), absorptive capacity (ACAP), and entrepreneurial operations management (EOM) played key roles in evolving the innovation strategy and commercialisation process. The chapter opens with an overviewof the case study before introducing the concepts described above, and then enfolding the academic literature into the case to illustrate the relationships found. It then draws conclusions from the findings and lessons for research, policy and practice. The case draws from the personal experience of the lead author, who has provided first hand observations of the company’s foundation and evolution over its first 12 years of operations.