Technology Based-Entrepreneurship: Measurement Technology Perspective

Currently, there are several papers on the New Technology Based Firms (NTBFs) yet the case studies of measurement technology appear to not be available. This work aims to present the entrepreneurial processes of Finnish measurement technology firms. Eight interviews were conducted with the key players of the industry. Successfully, the outcomes of the study revealed that there are five interconnected and interactive phases for new technology commercialization; they are not static and they are continuous in a circular mode. Likewise, there are two facilitators – networking and market potential which serve as linked pins for the identified stages. Furthermore, financing, research and development (R&D), government supports and the entrepreneurship issues were found to be highly relevant for NTBFs. Most importantly, this study presents a new model, which can be adopted by technology entrepreneurs for their invention valorizations.