A Knowledge Spillover-based Approach to New Product Conceptualization

Abstract

Entrepreneurship continues to be of the utmost importance in terms of national economic and industrial development. The formation of new companies (start-ups) encourages the creation of employment which in turn boosts economic activity. This growth, however, requires constant innovation within the start-ups. It is recognized that the process of innovation development is affected by a start-up's ability to capture knowledge spillovers which depends upon both external and internal factors. This paper proposes a conceptual model based on knowledge spillovers and their influence on the capture of new knowledge and its transformation into economic knowledge. We introduce and discuss various definitions, debating knowledge spillover theory, to provide a model based on classifications of cognitive and geographical proximity. Further discussion is provided against the product conceptualization process for start-ups.

A Taxonomy of Knowledge Spillovers for High-Tech Start-ups Development

“…For that matter, an initial common definition and establishment on the evaluation of informal flows of knowledge in mediated by the background of the founders of the company. In this case, previous working experience and acquired academic degrees affects the decision of CEOs to engage with universities or companies [61]. For that matter, the evaluation of knowledge spillovers requires to identify the start-ups process that capture knowledge spillovers from external sources of knowledge, and and its further implementation to incremental forms of product innovation.…”