Document Type

Article

Publication Date

1-2011

Department

School of Business

Abstract

The purpose of this study is to determine whether market attractiveness is affected by the product's developmental stage-specifically, invention vs. innovation. Two databases were combined for this study to assess prototype or market-ready products (innovations) and ideas submitted by inventors and manufacturers (inventions). On average, invention stage products were more attractive to evaluators than were innovation stage products; however, one critical factor - the ability to create a new venture from the product - was significantly higher for innovations. In addition, overall market readiness was on average more than 10 percent higher for innovation stage products than those at the invention stage. Stepwise regression results indicate that stage of development and new venture likelihood are more critical than other factors in deciding the market viability of a product.

First Page

37

Last Page

46

Volume

17

Issue

1

ISSN

10879595, 15282686

Comments

Original Citation:

Jones, S. C., Knotts, T. L., & Udell, G. G. (2011). Inventions and innovations: Does stage of development matter in assessments of market attractiveness? Academy of Entrepreneurship Journal, 17 (1), 37-46.

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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