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Education for Innovation: Entrepreneurial Breakthroughs vs. Corporate Incremental Improvements

Published on Jun 1, 2004in Innovation Policy and the Economy
· DOI :10.1086/ipe.5.25056170
William J. Baumol74
Estimated H-index: 74
Sources
Abstract
This paper explores the following hypotheses on the appropriate education for innovating entrepreneurship: a) breakthrough inventions are contributed disproportionately by independent inventors and entrepreneurs, while large firms focus on cumulative, incremental (and often invaluable) improvements; b) education for mastery of scientific knowledge and methods is enormously valuable for innovation and growth, but can impede heterodox thinking and imagination; c) large-firm RD d) while procedures for teaching current knowledge and methods in science and engineering are effective, we know little about training for the critical task of breakthrough innovation.
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