Biomedical Engineering Reference
In-Depth Information
3
The role of innovation systems
in the commercialization of
biotechnology
Abstract.
This chapter delves into the theoretical debates around
innovation and competitive advantage that shape innovation policy
decisions. Particular reference is made to the national innovation
system framework and the policy components that make up this
framework. Examples of how innovation policy decisions can
influence the stem cell sciences are provided wherever possible.
Towards the end of the chapter a discussion of the role some of the
impacts of divergent innovation systems might play in the future of
the stem cell sciences is also included.
Keywords:
competitive advantage, state strategies, national innovation
system, components of innovation, globalization
In addition to patient demand, getting a product to market involves
a complex set of interlocking factors. Discovery and invention are
only small components of the entire process of developing a new
product: overall, this process is a function of the innovation system.
Consequently, whether or not a new discovery becomes a viable
product is affected by factors as diverse as the level of skilled
personnel available for product development, the function of the
intellectual property system and the regulatory requirements affecting
new products. These factors may also intersect in divergent ways in
