It is an exciting and challenging time in the chemical industry. As technologies become increasingly complex and inter-related, and the competencies required to successfully exploit an innovation vary widely, one must be more creative in approaching the market. This dynamic environment is providing unique opportunities for technical collaboration between corporations and between academia and industry. Cultivating and strengthening these partnerships leverages expertise and increases the speed to market. This talk will present an overview of the challenges and opportunities for developing breakthrough technologies and commercializing technical innovations. Successful examples of commercializing technology using diverse channels to market will be highlighted ranging from university startups, to new business ventures within a corporation, to technology spin-offs from large corporations. Emphasis will be placed on the increased need for collaboration between diverse groups. This presentation will conclude with some proven practices for collaborative development, launching and managing new chemical technology-based ventures, and identification of existing and emerging opportunities for technologists to develop and commercialize innovations.