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.
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.