Creation, Development and commercialization of radical innovation in Biotechnology

Manuel Gigena (KU Leuven), Ashish Arora & Reinhilde Veugelers, “Creation, Development and commercialization of radical innovation in Biotechnology”

Despite anecdotal evidence, literature does not provide a clear understanding of how the process of radical innovation unfolds. A capabilities-based view leads to a division of labour wherein large firms are more efficient at commercializing novelty, whereas small firms may either be creators of novelty, or intermediaries between universities and large firms. Using patent-based indicators, we sketch a framework to study the role of different actor types in the generation of technological novelty, its development, and approach its commercial application.