Innovation and Commercialization Characteristics of Techno-Business Firms in Uganda: An Overview of Firm Processes, Strategies, and Challenges

Abstract

The role of techno-business firms in shaping the innovation and commercialization processes in Uganda has been the focus of extensive research and analysis. The objective of this study is to provide a comprehensive understanding of the contributions of techno-business firms to the innovation and commercialization landscape in Uganda. To accomplish this, qualitative and quantitative research methods were employed using interviews and observational approaches. These methods involve gathering evidence, including observations and interviews with techno-business entrepreneurs. By examining the various factors that influence the growth of these firms, such as their approaches to Research and Development (R&D), marketing, and partnerships, this study sheds light on the ways in which techno-business firms drive innovation and commercialization in Uganda. This study indicates that R&D and Intellectual Property (IP) protection are vital components of firms’ innovation and commercialization initiatives. The study underscores the importance of grants or subsidies as the primary financing mechanism for firm activities. The study highlights that product or innovation development depends on collaborative agreements, adjustments to current products, and internal idea generation. This study reveals innovation and commercialization disparities and proposes remedies to bridge these gaps. This ultimately fosters transformative growth by enhancing industrial production and strengthening the connections between techno-business firms and the industrial sector