Innovation in Technological Transfer Based Approaches to Local Economic Development
The innovation process is not exactly a straightforward process. The pure research done in Government labs and Universities is often without commercial result. This can be for a number of reasons. First of all, pure research is not generally focused on a specific marketable product. By definition it is a launching into unknown territory. In such activity a large part of success is as a result of accidents which are noticed and followed up on. It is not possible to predict the direction such experiences will take a researcher. "Silly putty, and Ivory bar soap are two classic examples of unexpected outcomes.Technological adaptations of pure research often do not materialize either. There are many products attempted for every one that actually works, and the costs of it are high.
Finally, once a product comes to production stage, there are many things that can come in the way of its being accepted by the market. The entire field of marketing is devoted to minimizing these costs and failures here, but still very few products make it through to successful sales compared to those that are left behind.
The entire innovation process is best viewed as an iterative process from researcher to the marketplace. When it comes to accessing this dynamic process for creative interventions in the local economy, sometimes just placing oneself in the process somewhere along the chain that is appropriate and maintaining an open mind and willing hands can make a difference.
The stories of products that got turned down by large corporations (e.g. the Polaroid camera by Kodak), but I often think of the man who invented some sort of sealed bearing for the top of grain elevators which would not overheat and cause fires. He could not get anyone to pick it up, even though such a product could be produced for fewer than fifty dollars. I often wonder what would have happened if someone had picked up the ball for him and generated not only fewer rural losses but also, perhaps, some economic gain for their district.