Abstract
Innovation-driven enterprises (IDEs) steer their businesses with ideas, technology, and innovation. However, many of them have limited resources, capabilities, and readiness to turn their valuable creativity into marketable products. For IDE startups to survive and achieve sustainable growth, they must seek financial and other, non-pecuniary support from governmental agencies and large corporate venture capitalists. Usually, governments and large firms need to determine the readiness level (RL) of IDE startups, in order to set up proper strategies for resource allocation, resource prioritization, and collaborative R&D to support startups. In addition, IDE startups themselves also need to perform self-assessment of their readiness level to identify rooms for improvement. This research addresses the significance of IDE readiness assessment. An assessment framework, connecting four dimensions, specifically technology, manufacturing, business, and commerce, is proposed, and three case examples are presented to demonstrate the application of the proposed framework.
Highlights
Pathway toward Sustainable Growth.In the era of the innovation-centered economy, Innovation-driven enterprises (IDEs) startups play key roles in national innovation development, as the source of ideas, creativity, technology, and innovation.some IDE startups cannot sustainably compete, due to their limited capabilities
IDE startups may be capable for the exploitation of new technologies and turn into innovation, but being a newly established business, IDE startups may face challenges in penetrating the markets, limited financial capitals, lack of experiences in running a business, managing an organization, etc
The qualitative research methodology was employed to investigate the applications of the RL in four dimensions: the technology readiness level (TRL), manufacturing readiness level (MRL), commercial readiness level (CRL), and business readiness level (BRL)
Summary
Pathway toward Sustainable Growth.In the era of the innovation-centered economy, IDE startups play key roles in national innovation development, as the source of ideas, creativity, technology, and innovation.some IDE startups cannot sustainably compete, due to their limited capabilities. IDE startups may be capable for the exploitation of new technologies and turn into innovation, but being a newly established business, IDE startups may face challenges in penetrating the markets, limited financial capitals, lack of experiences in running a business, managing an organization, etc. It would be useful for IDE startups to monitor the stage of their development and identify room for further improvement, in order to strategically develop their capabilities aligning among technology, manufacturing, commercial, and business, as required in each stage. The readiness assessment results can be used as a guideline for achieving the effectiveness of IDE startups support
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
