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In developing countries, there is an increased emphasis on encouraging the commercialisation of research at universities. This triggers universities to adopt a culture of innovation and technological learning at both undergraduate and postgraduate levels. The focus of this review article is to highlight the benefits and challenges faced by researchers in the field of synthetic biology products, biotechnology, agribusiness, Biofuels and phytomedicine in commercialisation. The methodological approach was informed by a selection of electronic databases with a high chance of the selected field in relation to the commercialisation of the research outputs. Google Scholar, PubMed, and Higher Education and Science Technology South Africa Reports for entrepreneurial universities were searched, focusing on 2007 to 2023. The years proved to have played a role in furthering discussions and policy in research on commercialisation in South Africa, the benefits of research commercialisation, challenges of research commercialisation, its determinants, and its impact on academics, universities, and other stakeholders. The review findings suggest that the commercialisation of research is a challenging and complex task to execute, as there are very few cases in South Africa to have a successful academic intellectual property creation, licensing, academic entrepreneurship, and start-up of research. This is placed into context by the fact that the market for high-end products and processes is highly uncertain.