Inventions and Innovations: Does Stage of Development Matter in Assessments of Market Attractiveness?
Jones, Stephen C., Knotts, Tami L., Udell, Gerald G., Academy of Entrepreneurship Journal
The purpose of this study is to determine whether market attractiveness is affected by the product's developmental stage-specifically, invention vs. innovation. Two databases were combined for this study to assess prototype or market-ready products (innovations) and ideas submitted by inventors and manufacturers (inventions). On average, invention stage products were more attractive to evaluators than were innovation stage products; however, one critical factor - the ability to create a new venture from the product - was significantly higher for innovations. In addition, overall market readiness was on average more than 10 percent higher for innovation stage products than …
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Publication information: Article title: Inventions and Innovations: Does Stage of Development Matter in Assessments of Market Attractiveness?. Contributors: Jones, Stephen C. - Author, Knotts, Tami L. - Author, Udell, Gerald G. - Author. Journal title: Academy of Entrepreneurship Journal. Volume: 17. Issue: 1 Publication date: January 1, 2011. Page number: 37+. © 2008 The DreamCatchers Group, LLC. Provided by ProQuest LLC. All Rights Reserved.
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