MARKET DRIVEN INVENTIONS IN SMES - A MODEL FOR GROWING ECONOMIES BY CONNECTING ENTREPRENEURIAL INVENTORS WITH LOCAL COMPANIES

Abstract

Innovation as the driver of regional and global economy requires a constant striving for new inventions. The following article presents a model and communication process for growing local and national economies by connecting market, entrepreneurial inventors and medium size enterprises (SME). The goal of this model is to create incremental or disruptive product and service concepts for small and medium size enterprises that often cannot setup, dedicate resources to, or afford their own R&D processes. Our model, titled the Joint Invention Market Model (JIM Model), is detailed herein along with its potential limitations. This model is believed to help SMEs of developing nations, and in particular provide SMEs with new product concepts at a lower cost, more quickly, and of higher quality than if SMEs created those concepts themselves.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 3 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.