Innovation is a complex process. The typical model of innovation are as follows: 1) identification of problems through research and development (R&D), 2) creation of novel products or services that have economic value, and then 3) technology transfer (commercialization) of the products/services so that they can be utilized at scale by society. Meanwhile, most research institutions still face challenges in the commercialization phase. The optimal model of technology transfer is still not widely known and reported. This presentation outlines the challenges faced by R&D institutions when commercializing their research in Indonesia, while also explain some of the technology transfer strategies at the Indonesian Institute of Sciences (LIPI). First, the models of technology transfer (commercialization) at LIPI are explained and its respective achievements over the past 5 years are also reported. The role of the start-up incubation program in “the valley of death of innovation” is described in detail. As a case study, the strategy of commercialization of nanotechnology and the experience of building nanotechnology-based startups with young technopreneurs in Indonesia are presented.

Keywords: Innovation, technology transfer, commercialization, startup, the valley of death, nanotechnology