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An Invention Is not an Innovation

In: The Researcher Entrepreneur

Author

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  • George Vekinis

    (National Centre for Scientific Research Demokritos)

Abstract

An invention does not a valuable innovation make without hard work. It is very rare for an early-stage technology – i.e., at the invention stage – to be commercialised successfully. In the vast majority of cases, all inventions – i.e., ideas whose concept has been proof-tested and developed as inventions – need to be further converted to innovative products or services by a transformation process. It’s well-nigh impossible to succeed in the market without effective protection, without validated technical feasibility for the particular application, without careful field testing and scaling up and especially without techno-economic viability validation.

Suggested Citation

  • George Vekinis, 2023. "An Invention Is not an Innovation," Management for Professionals, in: The Researcher Entrepreneur, edition 2, chapter 5, pages 25-28, Springer.
  • Handle: RePEc:spr:mgmchp:978-3-031-44358-9_5
    DOI: 10.1007/978-3-031-44358-9_5
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