Game theory supporting commercialization process of a start-up company

The aim of the thesis is to study the commercialization process of a start-up company and how game theory can support the decision making during the process. The purpose was to offer new insights to commercialization since the approaches of game theory have not examined in this context even the commercialization process is complex and needs strategic decision making. The reason for choosing this topic in the point of view of start-ups is that start-ups are in major role when creating innovations, but they often have lack of resources to bring the innovations to the market. The research follows qualitative approach and the base of the research findings is from the interview. The interview was doing by using semi-structured interview questions. The entrepreneur was selected to interview because being involve with commercialization process of high technology product. The interview was doing in Finnish and recorded entirely. The transcribing was doing in Finnish and then translating in English by those parts which are used in the research findings. Theoretical part of study consists two sections. The first section involves topics of start-up, innovation, commercialization process and challenges that the company might face during the process. The second section involves the approach of game theory and applications of it. After theoretical part there is describe the methodology of the study. This involve an analyze of the qualitative study, benefits of it. Methodology section presents the interpretations about validity and reliability of the study. The research findings support the theory of commercialization process progressing. There is find few game theoretic approaches relating to different stages during the commercialization process. Most common models and approaches are negotiation situations, game matrix, cooperative games, and games of chance. The results support theory base but they are not generalizable. The purpose is to create a framework which start-up can utilize in some parts or entirely. Conclusion chapter presents a customized framework which combines main activities find out from interview and strategic decision-making process. It also presents the importance of investors and other funding systems for start-up company. The last chapter discuss more about theoretical and managerial implications, limitations of the study and gives suggestion for the further studies