Determinants of effective commercialization of scientific projects: Empirical evidence from Kazakhstan

This paper investigates the determinants of successful commercialization of scientific projects funded by the government in Kazakhstan from 2016 to 2018. Using the data on 140 projects that include metrics such as sales, number of patents, jobs created as outputs, and factors like grant amount, co-financing, and capital expenditure as inputs, the study provides empirical insights into the key drivers of commercialization success. The research applies OLS and DEA econometric approaches to analyze the relationships between these variables, offering valuable implications for policy-makers, research institutions, and industry stakeholders aiming to enhance the commercialization potential of scientific endeavors. The findings underscore the importance of financial inputs, particularly co-financing from the private sector, capital expenditure, institutional support, and market alignment, in translating research into viable market products.