Technology Commercialization, Entrepreneurship and Economic Growth

The classical development literature observes that economic growth comes from two sources: increased factors of production (since these are fungible, the argument focuses on increased investment) after the writings of David Ricardo and entrepreneurship and innovation after the writings of Adam Smith, Joseph Schumpeter and Israel Kirzner. The Ricardian approach that emphasized the role of factors of production dominated growth policy well into the late 1990s and early 2000s. As the knowledge age unfolded and information access vastly increased, entrepreneurship and innovation are increasingly recognized as the central drivers of growth.

Today, countries, regions and localities around the globe invest in entrepreneurship- and innovation-driven economic development and provide support for high-growth innovative and entrepreneurial firms. To be successful, these strategies require sound understanding of the entrepreneurial growth process and innovation impacts from both theoretical and empirical perspectives. A number of RR&S Associates are world-recognized experts and thought leaders in the areas of entrepreneurship, innovation, technology commercialization and their economic effects. The associates have been involved in research, advisory assistance and design of the entrepreneurship- and innovation-driven economic development practices globally. The key component of assistance that RR&S Associates provide is help in commercializing innovative technological products. Our approach involves the unusual blend of strategy advice, product analysis, market research to match with what “this technology” can offer to address market’s demand at what price. We build bridges between innovators, university research centers and investors. Thus, we help find the best commercialization path forward to the innovator.

Our accomplishments