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New tools and practices for financing novelty : a research agenda

Author

Listed:
  • Ulrike Stefani

    (University of Konstanz)

  • Francesco Schiavone

    (PARTHENOPE - Università degli Studi di Napoli “Parthenope” = University of Naples)

  • Blandine Laperche

    (LAB.RII - Laboratoire de Recherche sur l'Industrie et l'Innovation - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique, ISI - Centre de recherche sur l’Innovation et les Stratégies Industrielles - ULCO - Université du Littoral Côte d'Opale)

  • Thierry Burger-Helmchen

    (BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

The expectations surrounding innovation as the principal mean by which firms gain a sustainable advantage while simultaneously alleviating social problems are tremendous. However, in the process of developing innovation, many small entrepreneurs, SMEs, as well as large firms struggle to access the necessary finances in order to further develop their innovative projects. The purpose of this paper is to nderline some of the most recent tools and practices used to finance novelty. Design/methodology/approach – This paper synthetizes some thoughts about the financing of novelty and proposes a research agenda based on trends highlighted in the recent literature. Findings – This paper pinpoints recent advances in finance applied to the field of innovation. In particular, this paper highlights both promising developments as well as the need for more research in this area in order to untangle the links between creativity and financial support, the financing of innovation in developing countries, accounting and evaluation of ideas. Social implications – The importance of developing innovation and easing access to resources has societal implications. The development of education around finance and entrepreneurship, as well as improving literacy of citizens in these fields could yield a more open view on innovation and financial supports in the future. Originality/value – Financing novelty, evaluating projects and facing uncertainty are among the most difficult decisions investors take. This paper combines many dimensions of innovation and finance to construct an overview of current and future practices within both domains.

Suggested Citation

  • Ulrike Stefani & Francesco Schiavone & Blandine Laperche & Thierry Burger-Helmchen, 2020. "New tools and practices for financing novelty : a research agenda," Post-Print hal-03020585, HAL.
    • Handle: RePEc:hal:journl:hal-03020585
    DOI: 10.1108/EJIM-08-2019-0228
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    Citations

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    Cited by:

    1. Bernard Sinclair-Desgagné, 2022. "Measuring innovation and innovativeness: a data-mining approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(4), pages 2415-2434, August.
    2. Nicolas Wattiez & Hervé Goy, 2023. "The impact of digital transformation on business models: the case of innovation finance consultancies [L’impact de la transformation numérique sur les modèles d’affaires : le cas des cabinets de co," Post-Print halshs-04232253, HAL.
    3. Husam Wahdan & Zeng Rui Tian, 2022. "Assessing the Efficiency of Venture Capital Functioning in the Transforming Economy in UAE and China by a Mathematical Model," SAGE Open, , vol. 12(1), pages 21582440211, January.
    4. Wang, Haiyan & Masi, Donato & Dhamotharan, Lalitha & Day, Steven & Kumar, Ajay & Li, Tong & Singh, Gurmeet, 2022. "Unconventional path dependence: How adopting product take-back and recycling systems contributes to future eco-innovations," Journal of Business Research, Elsevier, vol. 142(C), pages 707-717.

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