Strategy of commercialization of Russian innovations in Finland
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According to Martti Vallila, Finland has what Russia needs and Russia has what Finland needs. There are researchers in Russia. Finland has one of the leading innovation systems in the world. Therefore, research problem of the thesis is to find the strategy that Russian companies could use in order to commercialize their innovations in Finland and if this strategy depends on some factors. The main findings of the thesis are next. The reason why Russian companies need to commercialize their innovations in Finland was found out, it is due to the obstacles in Russian innovation system, Finnish inn...
According to Martti Vallila, Finland has what Russia needs and Russia has what Finland needs. There are researchers in Russia. Finland has one of the leading innovation systems in the world. Therefore, research problem of the thesis is to find the strategy that Russian companies could use in order to commercialize their innovations in Finland and if this strategy depends on some factors. The main findings of the thesis are next. The reason why Russian companies need to commercialize their innovations in Finland was found out, it is due to the obstacles in Russian innovation system, Finnish innovation system looks more attractive. Regarding to the steps of the commercialization process, the following ones were suggested by the author: establish a joint venture, hire a local CEO or a book-keeper, prepare an investment plan, and create projects inside joint venture. The main challenges are: lack of human resources, lack of money, and difference in taxation systems. Cooperation commercialization strategy seems to be the most suitable. Finally, the research identified that the choice of internationalization strategy affects the choice of commercialization strategy.
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