Crossing the Valley of Death - An integrated framework and a value chain for emerging technologies

Abstract

The paper develops an integrated technology-push and market-pull framework, and a value chain model for crossing the Valley of Death (VOD-the gap between laboratory and market) for emerging technologies, based on primary and secondary data analyses and a survey conducted on European research and development projects. The study uses a case of micro and nanomanufacturing technology (MNT) and confirms the existence of the VOD through the survey data analysis. A mixed-methods approach was adopted which investigated the business and technical challenges to the commercialization of MNT. A notable finding is that the emerging MNT often does not have a direct link with market demand and the result suggests that an intermediary role between advanced technology and market demand should be integrated to act as coordinator for overcoming the VOD. The paper also examines how an intermediary is crucial to escape the VOD, within the value chain of the interdependent relationships between actors.