Abstract:
Higher Education Institutions need to address transformation, particularly looking at reducing
graduate unemployment and improving their third-stream income. One of the strategies to achieve these
transformational goals is to commercialise research produced by these institutions. Hence, this paper aims
to explore ways in which institutions can incorporate the commercialisation of research concepts to have an
impact on their output. The exploration process employs a qualitative thematic literature review methodology.
The paper focuses on how to dissect the commercialisation and entrepreneurship concept, harness
intellectual property, form partnerships and collaborations, address transformational change and structural
reform, benefits and challenges of commercialisation, among the ways to deal with the commercialisation
of research. This study revealed that the commercialisation of research requires active participation from
leadership, an understanding of the roles of all stakeholders involved, creating an enabling environment and
having incentive programs for motivation. Challenges highlighted include financial constraints, particularly in
developing countries, lack of awareness, unclear policies, and tradeoff between publishing research papers
and protecting intellectual property. It has been found that commercializing research can have meaningful
outcomes in institutions and an enormous effect on the economy and society