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Entrepreneurial experimentation : a key function in systems of innovation

Lindholm-Dahlstrand, Åsa LU ; Andersson, Martin LU and Carlsson, Bo LU (2018) In Small Business Economics p.1-20
Abstract

The literature on innovation systems focuses on the supply side (the creation of technology) rather than on how innovations are converted into economic activity and growth via the market (the demand side, and the interface between supply and demand). One implication of this is that there is a dearth of research on the links between innovation systems and economic growth. The purpose of this paper is to begin to fill this gap in the literature. We articulate the function of entrepreneurial experimentation as an essential mechanism for translating new knowledge into economic activity and growth created in innovation systems. We argue that entrepreneurial experimentation comprises both “technical” and “market” experimentation. Spinoffs and... (More)

The literature on innovation systems focuses on the supply side (the creation of technology) rather than on how innovations are converted into economic activity and growth via the market (the demand side, and the interface between supply and demand). One implication of this is that there is a dearth of research on the links between innovation systems and economic growth. The purpose of this paper is to begin to fill this gap in the literature. We articulate the function of entrepreneurial experimentation as an essential mechanism for translating new knowledge into economic activity and growth created in innovation systems. We argue that entrepreneurial experimentation comprises both “technical” and “market” experimentation. Spinoffs and acquisitions are proposed as micro-mechanisms that give rise to system-wide entrepreneurial experimentation. Our framework suggests that entrepreneurial experimentation is central in driving both the supply- and the demand-side dynamics of innovation systems, hence linking both innovation systems and entrepreneurship to economic growth.

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author
organization
publishing date
type
Contribution to journal
publication status
epub
subject
keywords
Economic growth, Entrepreneurship, Experimentation, Innovation system, New technology-based firms, Scale-up
in
Small Business Economics
pages
20 pages
publisher
Springer
external identifiers
  • scopus:85049561654
ISSN
0921-898X
DOI
10.1007/s11187-018-0072-y
language
English
LU publication?
yes
id
0481cdef-96ca-4ab0-8426-09b042c895ee
date added to LUP
2018-07-23 11:07:53
date last changed
2019-02-20 11:22:48
@article{0481cdef-96ca-4ab0-8426-09b042c895ee,
  abstract     = {<p>The literature on innovation systems focuses on the supply side (the creation of technology) rather than on how innovations are converted into economic activity and growth via the market (the demand side, and the interface between supply and demand). One implication of this is that there is a dearth of research on the links between innovation systems and economic growth. The purpose of this paper is to begin to fill this gap in the literature. We articulate the function of entrepreneurial experimentation as an essential mechanism for translating new knowledge into economic activity and growth created in innovation systems. We argue that entrepreneurial experimentation comprises both “technical” and “market” experimentation. Spinoffs and acquisitions are proposed as micro-mechanisms that give rise to system-wide entrepreneurial experimentation. Our framework suggests that entrepreneurial experimentation is central in driving both the supply- and the demand-side dynamics of innovation systems, hence linking both innovation systems and entrepreneurship to economic growth.</p>},
  author       = {Lindholm-Dahlstrand, Åsa and Andersson, Martin and Carlsson, Bo},
  issn         = {0921-898X},
  keyword      = {Economic growth,Entrepreneurship,Experimentation,Innovation system,New technology-based firms,Scale-up},
  language     = {eng},
  month        = {07},
  pages        = {1--20},
  publisher    = {Springer},
  series       = {Small Business Economics},
  title        = {Entrepreneurial experimentation : a key function in systems of innovation},
  url          = {http://dx.doi.org/10.1007/s11187-018-0072-y},
  year         = {2018},
}