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Crossing the valley of death: Five underlying innovation processes

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  • Ellwood, Paul
  • Williams, Ceri
  • Egan, John

Abstract

The aim of this paper is to elucidate the innovation processes of technology development across the Valley of Death. Hitherto, studies of the innovation process for this difficult early phase in technology development have implied a linear progression or have privileged the contribution of intermediaries channelling government-funded support. By making use of process theories, and pursing a novel action research methodology with all innovation actors involved in the Valley of Death transition, then a wider processual perspective is realised. This paper adopts a realist evaluation approach in order to integrate the findings from six different technology development projects. By these means, we suggest that crossing the Valley of Death implies the successful completion of five distinct innovation processes. We construct a conceptual framework constituted of the five innovation processes, and argue there is more than one pathway for crossing the Valley of Death. Finally, we offer practical implications for innovation management at this phase of technology development.

Suggested Citation

  • Ellwood, Paul & Williams, Ceri & Egan, John, 2022. "Crossing the valley of death: Five underlying innovation processes," Technovation, Elsevier, vol. 109(C).
    • Handle: RePEc:eee:techno:v:109:y:2022:i:c:s0166497218306023
    DOI: 10.1016/j.technovation.2020.102162
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