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Nanocomposites provide outstanding benefits and possibilities compared to traditional composites but struggle to make it into the market due to the complexity and large number of associated challenges involved in, as well as lack of standards for, nanocomposite commercialization. This article proposes a commercialization framework utilizing market analysis and systems engineering to support the commercialization process of such high technologies. The article demonstrates the importance and usefulness of utilizing Model-Based Systems Engineering throughout the commercialization process of nanocomposite technologies when combining it with the Lean LaunchPad approach and an engineering analysis. The framework was validated using a qualitative research method with a case study approach. Applying this framework to a nanocomposite, called ZT-CFRP technology, showed tremendous impacts on the commercialization process, such as reduced market and technological uncertainties, which limits the commercialization risk and increases the chance for capital funding. Furthermore, utilizing the framework helped to decrease the commercialization time and cost due to the use of a lean engineering analysis. This framework is intended to assist advanced material-based companies, material scientists, researchers and entrepreneurs in academia and the industry during the commercialization process by minimizing uncertainties and risks, while focusing resources to reduce time-to-market and development costs. |
