The transfer and commercialisation of technology from South Africa to foreign markets in the financial services industry

Abstract

International technology transfer (ITT) processes are complex, risky, and often fail. When financial services organisations have the opportunity to transfer their business model and core technologies to a foreign market, comprehensive research into the technology and the market is compulsory. Numerous applicable theories and models in technology transfer were reviewed to develop a comprehensive ITT model. Interviews with key individuals and focus group sessions were used to rank factors that affect the success of ITT in the financial services industry – specifically, a case in the direct short term insurance industry. These success factors were implemented in the developed market evaluation model where the user is required to enter evaluation values for each factor. The evaluation model then delivers a value that represents the market potential. This model can be used to evaluate one market or many potential markets. There are two factors that an organisation must always be aware of: the influence stakeholders have on the ITT process, and what ITT strategy is employed. Further research is proposed to validate the developed model beyond the specific case study.

Internasionale tegnologieoordragprosesse (ITO) is kompleks, riskant, en faal dikwels. Wanneer organisasies in die finansiële dienste sektor die geleentheid bekom om besigheidsmodelle en kerntegnologieë oor te dra na buitelandse markte, is oorkoepelende tegnologie- en marknavorsing noodsaaklik. Verskeie verwante teorieë en modelle in tegnologieoordrag is bestudeer om ’n ITO-model te ontwikkel. Onderhoude met individue is gevoer en fokusgroepsessies is gehou om faktore wat die sukses van ITO in the finansiële dienstesektor bepaal, en meer spesifiek is ’n organisasie in die korttermynversekeringindustrie, se rangorde te bepaal. Dié suksesfaktore is geïmplementeer in die ontwikkelde markevaluasiemodel waardeur die gebruiker genoodsaak word om evaluasiewaardes vir elke faktor in te voer. Die evaluasiemodel voorsien dan ’n waarde wat die markpotensiaal bepaal. Die model kan gebruik word om ‘n enkele of verskeie markte te evalueer. Die studie wys daarop dat twee faktore veral belangrik is, naamlik die invloed wat verteenwoordigers mag hê op die ITO-proses, en die ITO-strategie wat deurgevoer word. Navorsing word voorgestel om die ontwikkelde model verder te valideer.