Commercialization of Traditional Knowledge Based Technologies by Small Entrepreneurs: An Exploration of Strategic and Policy Options

The paper is based on the case study of an entrepreneur who has invested his career in developing a new product based on traditional knowledge. Using this case we highlight the issues faced by a small entrepreneur in the commercialization of traditional knowledge based technologies in pharmaceuticals industry. The framework developed by Teece is used to analyze the strategic options available to the entrepreneur in a weak appropriability regime. We also analyze a hypothetical scenario of strategic options available to the entrepreneur if the appropriability regime was strong. Since traditional knowledge based entrepreneurial activities have significant scope in India, it is important to explore the policy and strategic options that are available to us. In the context of the case study, the concluding part of the paper reviews these options and the associated implications for the holders of traditional knowledge.