ANALYSIS OF OBSTACLES AND SUCCESS FACTORS OF INNOVATION COMMERCIALIZATION

Abstract

The article presents the results of a study of the prospects for the commercialization of innovations and the factors hindering their development. The purpose of the study is to identify factors that contribute to the market success of innovation, as well as to examine the barriers that hinder the innovation of enterprises and do not allow to achieve the desired effect. To achieve this goal it is necessary to implement the following tasks: to conduct a bibliometric analysis of the relationship of factors of commercialization of innovation, to explore the negative factors contributing to the failure of innovation, to identify obstacles to innovation at different stages, and to determine factors of successful commercialization of innovations. The main research methods that were used in writing the article are comparative analysis of scientific publications and research on the work of commercialization of innovations, synthesis, generalization, and visualization map by VOSviewer software. With the help of the VOSviewer software product, a visualization map was created in connection with the concept of "commercialization of innovations" and related ideas, based on information from the Scopus database. In the process of working on the article, literary sources were analyzed, which are close to the research topic. The results of the analysis confirmed the theory of factor influence on the effectiveness of commercialization of innovations. Both internal and external factors that directly and indirectly affect the results of innovation and opportunities to increase its profitability were identified. Groups of clusters formed as a result of the construction of visualization maps reflect additional factors that are insufficiently studied in the thematic scientific literature. Such factors, when further analyzed, can be the subject of new research and can help determine their specific impact (positive or negative) on the end result of the commercialization of innovation. Moreover, we have defined that innovation commercialization process has a number of practical advantages: economic, social, competitive, market benefits for companies, consumers, society in large.