The commercialization of technologies developed at public research organizations is a major driver of economic development by providing economic and societal value. This has resulted in a growing interest among policymakers in generating wealth and entrepreneurial activity from publicly funded research. Yet, despite its importance, technology commercialization (TC) of scientific research remains a challenging activity with a high failure rate. Therefore policymakers are still in search of ways to coordinate the TC process in a more efficient manner. While TC processes have been approached from various perspectives, the majority of empirical work on TC is limited to within-institution phenomena. Scholars typically address the commercialization process from a single institution’s internal perspective, by studying technology commercialization from, for example, the new technology venture-, the technology transfer office- or government agency perspective. However, successful technology commercialization depends on the effective interaction between such institutions, in the ecosystem surrounding new technologies. By conceptualizing TC as a dynamic process, we move beyond a single-institution lens and are able to address the (relation) management of institutions within TC processes.