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on Innovation |
| By: | John Van Reenen |
| Abstract: | The new US administration has the opportunity to reset an economic model that has failed to deliver prosperity for millions of Americans for decades. John Van Reenen calls for a Grand Innovation Challenge Fund - federal funding for research and development to fuel technological innovation and raise productivity growth. |
| Keywords: | r&d, innovation, patents, tax system, productivity, growth |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:599&r=all |
| By: | Pavlova, Elitsa; Signore, Simone |
| Abstract: | We use competing risks methods to investigate the causal link between venture capital (VC) investments supported by the EIF and the exit prospects and patenting activity of young and innovative firms. Using a novel dataset covering European start-ups receiving VC financing in the years 2007 to 2014, we generate a counterfactual group of non-VC-backed young and innovative firms via a combination of exact and propensity score matching. To offset the limited set of observables allowed by our data, we introduce novel measures based on machine learning, network theory, and satellite imagery analysis to estimate treatment propensity. Our estimates indicate that start-ups receiving EIF VC experienced a significant threefold increase in their likelihood to exit via M&A. We find a similarly large effect in the case of IPO, albeit only weakly significant. Moreover, we find that EIF VC contributed to a 13 percentage points higher incidence in patenting activity during the five years following the investment date. Overall, our work provides meaningful evidence towards the positive effects of EIF's VC activity on the exit prospects and innovative capacity of young and innovative businesses in Europe. |
| Keywords: | EIF,venture capital,public intervention,exit strategy,innovation,start-ups,machine learning,geospatial analysis,network theory |
| JEL: | G24 G34 M13 O32 O38 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:202170&r=all |
| By: | Lema, Rasmus (Aalborg University, and University of Johannesburg); Pietrobelli, Carlo (UNU-MERIT, and University Roma Tre); Rabellotti, Roberta (University of Pavia, and Aalborg University); Vezzani, Antonio (University Roma Tre) |
| Abstract: | Innovation trajectories in global value chains can take highly differentiated pathways. Firms and other organisations operating in a sector in a given country may gain or lose innovative capacity over time compared to their peers in other countries. In this paper we address the question: do stylised trajectories emerge from the analysis of countries' relative innovative capacity and global value chain participation? We draw explorative insights from a cluster analysis of 45 countries on the subsectors of the information and communication technology industry: hardware and software. Our analysis uncovers remarkable differences across sectors and countries. We identify different trajectories and discuss the sub-sectoral specificities which contribute to explaining these differences. The association between the strengthening of innovative capacity and deeper insertion in global value chains applies to only a handful of countries and only in the software subsector. These findings raise questions for future research on innovation in global value chains. |
| Keywords: | Global value chains, Innovation capacity, Innovation trajectories, Hardware, Software, ICT |
| JEL: | F23 D23 L22 L25 O10 O32 O38 |
| Date: | 2021–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2021007&r=all |
| By: | Caroline Cohen (European Commission - JRC) |
| Abstract: | This report summarises and analyses the main findings of the reflection and collective work engaged with 12 territories from across Europe that was carried out from March to December 2020 with the aim to collect evidence on the potential impact of S3 in the quality of policy governance and innovation ecosystem, as well as, its effects in terms of growth and jobs. Based on the reflection carried out with a wide range of member states and regions across Europe, it highlights different types of methodological approaches and measures that were developed and are foreseen by policy-makers to assess the impact of their research and innovation strategies at different territorial levels. Although participants advocate a 10 to 15 years' time span to fully grasp the impact of the induced changes related to the implementation of S3, the report shows that the Smart Specialisation concept is perceived as a pivotal enabler for industry renewal, bringing together stakeholders in the ecosystem and fostering international value chains. The experimental nature of the Smart Specialisation approach can play a central role in supporting new and innovative activities, help territories discover new opportunities and pursue new paths of development towards more sustainable and inclusive growth models. |
| Keywords: | Smart Specialisation - Impact Assessment - Territorial development - Industrial Innovation - Global value chains |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc124046&r=all |
| By: | Meriam Attia (ISG - Institut Supérieur de Gestion de Tunis [Tunis] - Université de Tunis, UM - Université de Montpellier); Ouidad Yousfi (UM - Université de Montpellier, MRM - Montpellier Research in Management - UM - Université de Montpellier - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM1 - Université Montpellier 1 - UPVD - Université de Perpignan Via Domitia - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVM - Université Paul-Valéry - Montpellier 3); Abdelwahed Omri (ISG - Institut Supérieur de Gestion de Tunis [Tunis] - Université de Tunis) |
| Abstract: | This chapter shows how boards' characteristics could influence two aspects of innovation: (1) innovation effort (such as R&D expenditures and R&D team composition) and (2) innovation performance, specifically product, process, organizational and marketing innovations. First, we focus on individual characteristics of board members and their influence on innovation effort and performance. Then, we examine how the internal organization of boards, specifically the committees' roles and their composition and to what extent they could be meaningful to innovation processes. Specially, we discuss the influence of the committee size, the frequency of meetings, and the presence of independent and female members. Finally, the chapter sheds light on the effectiveness of initiatives and programs introduced to increase diversity such as gender quota laws, and the presence of minorities in top management positions. |
| Keywords: | Committees,Board demographic attributes,Board Structure,Corporate Governance,Innovation |
| Date: | 2021–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03144970&r=all |
| By: | Ashish Arora; Sharon Belenzon; Jungkyu Suh |
| Abstract: | Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality inventions, reliance on science may enhance gains from trade and reduce the transfer cost of knowledge and other transaction costs. Using large scale data, we show that patents citing science are more likely to be traded, especially for novel patents and for smaller inventors. Leveraging the fall of the Berlin Wall as a source of exogenous variation in the relevant scientific knowledge to technological fields, we confirm reliance on science increases the likelihood that the invention will be traded |
| JEL: | L24 O3 O31 O33 O34 O36 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28534&r=all |
| By: | Seungki Lee; Yongjie Ji (Center for Agricultural and Rural Development (CARD)); GianCarlo Moschini (Center for Agricultural and Rural Development (CARD)) |
| Abstract: | Climate change is one of the major threats to the global food supply, and adaptation by technological progress is believed to be essential. What is the scope of the required innovation tasks? To address this question, we estimate the yield gain in US maize production due to a major novel technology: genetically engineered (GE) varieties. Next, the yield model is used to extrapolate future expected yields given climate change projections from twenty large-scale models and two warming scenarios. We find that climate change entails significant yield shortfalls. The scale of these yield gaps, by the end of the century, ranges from about 2.7 to 6.3 times the total yield gains from GE varieties. These results suggest that the scope of adaptation is challenging. Ambitious and targeted R&D efforts, and innovation breakthroughs, may be required to close the yield gaps likely to arise from climate change. |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:21-wp616&r=all |
| By: | James A. Brander; Barbara J. Spencer |
| Abstract: | This paper examines intellectual property litigation as a method of protection from patent-infringing imports. Claims against patent-infringing imports entering the United States may be filed before the International Trade Commission (ITC) or in district court. The ITC applies injunctions (import prohibitions) that would seem to provide more protection from infringing imports than the standard license fee remedy in court. Settlements prior to legal adjudication are common in both venues. Using a model with Nash bargaining and Cournot competition, we show that an ITC filing may restrict imports by less than in court. This result tends to apply if product differentiation is high and the size of the patented cost-reducing innovation is large. |
| JEL: | C70 F12 F13 K41 O34 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28496&r=all |
| By: | Hugo Pinto; Carla Nogueira; John Edwards (European Commission - JRC) |
| Abstract: | Universities and other higher education institutions (HEIs) are expected to play a catalytic role in S3. They are increasingly being asked to fulfil many new and wide-ranging tasks, probably with an overly optimistic perspective. To be effective in answering to all demands - such as being sources of knowledge, providers of education and training for strategic leaders of regional regeneration, suppliers of knowledge intensive services and infrastructure, local connectors with external knowledge and markets, and also animators of their innovation systems – HEIs face internal and external limitations. This report presents the main results of the JRC project on Higher Education for Smart Specialisation in Portugal. The project intends to help build innovation capabilities by strengthening the participation of HEIs in regional networks; and by promoting the integration of higher education with research, innovation and regional development in the S3 policy mix. The results are divided into two categories. First, a quantitative and descriptive analysis of the publicly available information about the HE system and on the use of European Structural and Investment Funds. Second, the presentation of qualitative results, based on the content analysis of interviews administered to key stakeholders and focus groups conducted in all regions. Results identify aspects for the innovative and transformation potential of Portuguese regions while they also underline contextual and specific problems facing HEIs, while highlighting measures to help overcome these limitations. |
| Keywords: | Portugal, Higher Education |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc123230&r=all |
| By: | Paul Benneworth (Western Norway University of Applied Sciences); Eskarne Arregui-Pabollet (European Commission - JRC) |
| Abstract: | This technical report presents the findings of the case study carried out in Northern Netherlands on the role of Higher Education Institutions (HEIs) in the design and implementation of the Smart Specialisation Strategy (RIS3). It is one of the case studies undertaken in the project Higher Education for Smart Specialisation (HESS), an initiative of the European Commission's Joint Research Centre (JRC) and the Directorate General for Education, Youth, Sport and Culture. There is a long tradition of higher education in the Northern Netherlands, with the key characteristic of a strong presence of Universities of Applied Sciences and RUG University of Groningen. The regional HEIs are actively involved in strong bilateral collaborations projects and clusters and living labs encouraging collaborations within the regional innovation ecosystems, being part of key innovation ecosystem governance structures. Although regional HEIs have individually been very effective in driving particular projects, there is still not a collective institutional space for HEIs, undermining a strategic agenda for HE in the region. The Northern Netherlands has a strong innovation ecosystem around a number of established sectors where there are robust relationships between HEIs and companies with innovative infrastructure. In the long-standing culture of collaboration of the regional innovation ecosystem, the introduction of the RIS3 has constituted an opportunity to a concerted effort to streamline innovation governance and to integrate activities to stimulate innovation. The key regional economic development issue remains the fact that it is a relatively sparse economic environment, which challenges the regional innovation governance. The Northern Netherlands has the potential to function as a knowledge economy more efficiently at the level of the North through a better integration of the provincial knowledge economies. The connectedness of SMEs into regional innovation networks can be improved building a natural "innovation escalator" by which individual connections with SMEs grow, become networks and evolves into key regional strengths. The region attracts a growing number of talented students, which can help build stronger connections between HEIs and regional innovators to strengthen firms' innovation capacity and help in their retention. Finally, HEIs occupy a strong position in the existing regional innovation ecosystem, as a site for experimentation and reflection, and it is key that they are encouraged to continue that work. The case study has coordinated closely with the ongoing discussions on the new RIS3 for the Multi-annual Financial Framework 2021-2027, contributing with findings that have helped the regional stakeholders in the definition of some of its future elements. |
| Keywords: | Smart specialisation strategies, higher education institutions, universities, territorial development, human capital, skills, innovation and growth, entrepreneurship |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc121432&r=all |
| By: | PERIANEZ FORTE Inmaculada (European Commission - JRC); WILSON James |
| Abstract: | This policy insight focuses on the tools and mechanisms used by countries and regions to foster efficient entrepreneurial discovery processes (EDP), within their smart specialisation strategies. How this interactive process should be stimulated and organised remains highly context-dependent. There seem to be a significant heterogeneity across entrepreneurial discovery processes and within entrepreneurial discovery processes themselves. Existing institutions, culture and historical trajectory of innovation policy influence the ways countries and regions organise their entrepreneurial discovery processes. The ambiguity around the entrepreneurial discovery process, in theory and practice, stems from the diverse interpretations that can be made of what the desired process should look like, and from the diverse regional contexts in which it is to be implemented. To organise successful entrepreneurial discovery processes we suggest focusing on interventions that: (i) design/implement mechanisms around the specificities of the regional context; (ii) re-consider using digital forms of engagement; (iii) increase the use of communication and dissemination tools. |
| Keywords: | Smart specialisation, entrepreneurial discovery processes (EDP) |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc124101&r=all |
| By: | Demary, Markus; Demary, Vera |
| Abstract: | Many Asian start-up companies have specialized in blockchain technology. In particular, Hong Kong, Israel and Singapore have the highest blockchain company density in Asia. The determinants for a flourishing blockchain ecosystem are a business-friendly environment for start-ups and the availability of venture capital, while the effects of agglomeration are less pronounced in Asia than in Europe. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkkur:102021&r=all |
| By: | Vlados, Charis (Democritus University of Thrace, Department of Economics); Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics) |
| Abstract: | The study of spatial socio-economic development constitutes a significant field of analysis of innovation creation and diffusion. Understanding the spatial evolution of the different socio-economic systems in the age of globalization requires a synthesizing and integrated theoretical approach to how innovation is generated and replicated. This article aims to study three significant spatial socio-economic development theories –the growth poles, the clusters, and the business ecosystems. A literature review reveals that (a) the concept of growth poles concerns mostly the analysis of spatial polarization between specific territories and regions, (b) the clusters concept addresses the issue of developed inter-industrial competition and co-operation from a meso-level perspective, and (c) the analytical field of business ecosystems provides an evolutionary approach that can be valorized for all co-evolving spatial socio-economic organizations. In this context, an eclectically interventional mechanism to strengthen innovation is suggested. The Institutes of Local Development and Innovation (ILDI) policy is proposed for all firms and business ecosystems, of every size, level of spatial development, prior knowledge, specialization, and competitive ability. The ILDI is presented as an intermediate organization capable of diagnosing and enhancing the firm’s physiology in structural Stra.Tech.Man terms (strategy-technology-management synthesis). |
| Keywords: | Spatial Socio-Economic Development; Business Ecosystems; Clusters; Growth Poles; Institutes of Local Development and Innovation (ILDI); Stra.Tech.Man Physiology |
| JEL: | R11 R58 |
| Date: | 2020–11–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:duthrp:2020_013&r=all |
| By: | Demary, Markus; Demary, Vera |
| Abstract: | A growing, but still small number of companies in Germany are supplying products and services based on the blockchain technology. Most of these are start-up companies and are headquartered in Berlin. Although a lot of them are focused on providing financial services, an increasing number of blockchain companies has started developing other blockchain-based services. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkkur:82021&r=all |
| By: | Ott, Ingrid; Savin, Ivan; Konop, Chris |
| Abstract: | Taking robotic patents between 1977 and 2017 and building upon the topic modeling technique, we extract their latent topics, analyze how important these topics are over time, and how they are related to each other looking at how often they are recombined in the same patents. This allows us to differentiate between more and less important technological trends in robotics based on their stage of diffusion and position in the space of knowledge, where some topics appear isolated while others are highly interconnected. Furthermore, we propose a novel approach to match the constructed topics to the IFR classification of service robots based on frequency and exclusivity of words overlapping between them. We identify around 20 topics belonging to service robotics. Our results corroborate earlier findings, but also provide novel insights on the content and stage of development of application areas in service robotics. With this study we contribute to a better understanding of the highly dynamic field of robotics and contribute to new practices of utilizing the topic modeling approach. |
| Keywords: | knowledge diffusion,latent Dirichlet allocation,networks,patents,topic matching |
| JEL: | C11 C15 O33 O34 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2180&r=all |
| By: | Michael Freunek; Andr\'e Bodmer |
| Abstract: | In this paper we present a method to concatenate patent claims to their own description. By applying this method, BERT trains suitable descriptions for claims. Such a trained BERT (claim-to-description- BERT) could be able to identify novelty relevant descriptions for patents. In addition, we introduce a new scoring scheme, relevance scoring or novelty scoring, to process the output of BERT in a meaningful way. We tested the method on patent applications by training BERT on the first claims of patents and corresponding descriptions. BERT's output has been processed according to the relevance score and the results compared with the cited X documents in the search reports. The test showed that BERT has scored some of the cited X documents as highly relevant. |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2103.01126&r=all |
| By: | Ernest Miguelez (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Claudia Noumedem Temgoua (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper documents the influence of networks of highly skilled migrants on the international diffusion of knowledge – particularly those with degrees and occupations in science, technology, engineering and mathematics. It investigates knowledge inflows to host countries brought in by skilled immigrants. It then explores knowledge feedback to home countries generated by these migrants. We test our hypotheses in a country-pair gravity model setting, for the period 1990–2010, using patent citations across countries to measure international knowledge diffusion. Our results confirm our hypotheses on the positive impact of skilled migrants on knowledge flows to host and home countries. However, the former are not robust to instrumental variables and country-pair fixed-effects, and only matter in certain contexts: when the sending countries are developing nations and for knowledge diffusion within the boundaries of multinationals. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03097427&r=all |