Reflection of Literature on Using Lean Innovation Models For Start-Up Ventures

Abstract

This paper discusses lean innovations and lean startup methods for the engineering management field. The aim of the literature review is to explain the methods and processes used in lean startup. First, we discuss the concept of startup and the impact that innovation has on startups and organizations seeking to implement lean innovations models. The assumption made in the hypothesis is that lean startup can be applied to areas outside of high-tech entrepreneurship. This hypothesis is further explored in the research. The findings in this paper suggest that innovation and entrepreneurship are highly influenced by innovation and company cultures. We find that technology transfer plays a key role in fostering innovation. However, there are barriers to public-private innovation partnerships, which is discussed in this paper.