It is crucial to enhance capability to create products having potentiality to be de facto standards or to be used as platforms. This paper discusses issues of the business creation process from technology seeds. We have investigated a Japanese copper smelting manufacturer, which expanded its business domain to semiconductor packaging utilizing COF (chip-on-film) technology, and succeeded to grow the business with world-wide market share of 80 percent. Currently, COF is a key technology for flat panel displays. The company started a research project of COF according to a customers request in 1986. As opposed to the conventional 3-layer TCP composing of metal and polyimide substrate bonded by glue, the company developed 2-layer COF by direct metal plating on polyimide substrate. Unfortunately, the first customer withdrew the research request. The company decided to continue its R&D effort despite the fact that there was not a clear visible application at the time. In 2000, the company was approved as a qualified vender of COF from a couple of customers, and COF business launched gradually. Business development process based on the new technology will be discussed focusing on three major issues: deterring new entrants, aiming industry standards, and rapid starting mass production.