Creating a model for commercialization of innovations in the software industry
Katerina Yordanova Kozludzhova

Dr. Katerina Kozludzhova, Chief Assistant Professor, Department of Economics and Social Sciences, Department of International Economic Relations, Plovdiv University Paisii Hilendarski, Plovdiv, Bulgaria.
Manuscript received on 18 April 2019 | Revised Manuscript received on 25 April 2019 | Manuscript published on 30 April 2019 | PP: 1013-1019 | Volume-8 Issue-4, April 2019 | Retrieval Number: D6540048419/19©BEIESP
Open Access | Ethics and Policies | Cite | Mendeley | Indexing and Abstracting
© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (

Abstract: Innovation in the software industry is the implementation of a new or improved software product that meets customer needs. When the software innovation is created, the commercialization process takes place. The commercialization makes the innovation a driver of economic growth. The research paper gives an answer to the question how software companies could develop more innovations that are successfully implemented on the market. The aim of the paper is to present a model for commercialization of innovations in the software industry that will help software companies in their efforts to create innovations that the market needs and desires to buy and use. The results of the research paper are based on literature reviews and a conducted survey among 33 software companies in Bulgaria that develop innovations. The period covered in the survey is form December 2015 to December 2017. The survey is conducted by the author of the paper. The introduced model for commercialization of innovations in the software industry eliminates the problems that software companies experience when developing product innovations. The model is applicable to any companies that develop and bring innovations to the market.
Keywords: Model, Innovation, Product Innovation, Commercialization of Innovations, Software Industry.

Scope of the Article: Manufacturing IoT