Technology and Innovation Capitalization: A Comparative Study of Massachusetts Institute of Technology and University of Saskatchewan

Abstract

The innovative technologies rapidly change the social development, as well as the economic structure in the world and reinforce many countries to develop their national economy from natural resources through innovative production processes and new products. This study describes the Massachusetts Institute of Technology and University of Saskatchewan achievement and its influential factors on the technology and innovation capitalization. The study reveals that both the institutions perform outstanding achievements on the technology and innovation commercialization such as the number of patents, business spin-off, total fundraising from government and industry, and their alumni impact on the national economic sectors. Factors affect their achievement are strong relationships among university, industry, government, and partnership with international experts, exceptional faculty members, high-quality research, entrepreneurship culture, team work, and supportive funding. This study further suggests the university, government, and industry to prepare themselves to achieve technology and innovation capitalization through well-developed collaboration among the three institutions.