Summary of The Missing Ingredient in Innovation

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

The Missing Ingredient in Innovation summary
Start getting smarter:
or see our plans

Rating

8 Overall

8 Importance

8 Innovation

7 Style


Recommendation

Transformative, high-payoff innovations like GPS take a long time to come to market. They typically emerge from multiple paths of investment in basic research and development. What they need are “patient capital” commitments that give visionaries the chance to explore new ideas and applications. In this brief article, academics Mark Dodgson and David Gann offer a thoughtful and well-articulated overview of patient investing, a much-needed but often-neglected financial area. getAbstract recommends this important analysis to investors and inventors.

In this summary, you will learn

  • Why “patient capital” is crucial to innovation,
  • How it works and 
  • What areas of opportunity would benefit from patient investing. 
 

About the Authors

Mark Dodgson is the director of the Technology and Innovation Management Centre at the University of Queensland Business School. David Gann is vice president of Imperial College London.

 

Summary

Groundbreaking inventions are in the making for many years. They change the world, but their commercial viability becomes apparent only after extensive research and development. For example, the potential for GPS began with Albert Einstein’s 1915 Theory of General Relativity, and the concept had decades of US government financial support before becoming an intrinsic part of everyday life. The cumulative efforts of researchers and investors have led to many GPS applications, among them its commercial success in cellphones and other smart devices. 


More on this topic

Customers who read this summary also read

Sovereign Wealth’s Hunt for the Next Unicorn
Sovereign Wealth’s Hunt for the Next Unicorn
8
From Start-Up to Scale-Up
From Start-Up to Scale-Up
8
A World of Three Zeros
A World of Three Zeros
9
Investment
Investment
7
Capitalism is losing support. It is time for a new deal
Capitalism is losing support. It is time for a new deal
8
Capitalizing on the New Golden Age in Private Equity
Capitalizing on the New Golden Age in Private Equity
8

Related Channels

Comment on this summary