Commercialization Process
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Technical
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Market
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Business
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Concept Phase
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Stage 1
Investigation
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Technical Analysis
Step 1
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Market Needs Assessments
Step 2
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Venture Assessment
Step 3
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Development Phase
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Stage 2
Feasibility
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Technical Feasibility
Step 4
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Market Study
Step 5
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Economic Feasibility
Step 6
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Stage 3
Development
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Engineering Prototype
Step 7
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Strategic Market Plan
Step 8
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Strategic Business Plan
Step 9
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Stage 4
Introduction
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Pre-Production Prototype
Step 10
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Market Validation
Step 11
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Business Start-Up
Step 12
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Commercial Phase
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Stage 5
Growth
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Production
Step 13
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Sales and distribution
Step 14
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Business Growth
Step 15
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Stage 6
Maturity
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Production Support
Step 16
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Market Diversification
Step 17
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Business Maturity
Step 18
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