Will the innovation system open up to start-up companies?
Why should the innovation system open up?
- In time of rapid technology change, commercialization moves to earlier-stage markets (and those markets are too small and risky for big public companies)
- The presence of many start-up companies enables multiple, parallel paths of specific innovations
- Better overall probability that one of those new technology solutions/business ideas will be successful
- Start-up companies provide a more efficient system for disposing of ideas that are flawed
- Earlier failure, better recycling (for example, purchase of IP by another company)