Andrea Mina

Networks of knowledge: The distributed nature of medical innovation

Innovation in medicine is a complex process that unfolds unevenly in time and space. It is characterised by radical uncertainty and emerges from innovation systems that can hardly be comprehended within geographical, technological or institutional boundaries. These systems are instead highly distributed across countries, competences and organisations. This paper explores the nature, rate and direction of the growth and transformation of medical knowledge in two specific areas of research, interventional cardiology and glaucoma. We analyse two large datasets of bibliometric information extracted from ISI and adopt an empirical network approach to try to uncover the fine structure of the relevant micro-innovation systems and the mechanisms through which these evolve along trajectories of change shaped by the search for solutions to interdependent problems.

The emergence of new knowledge, market evolution and the dynamics of micro-innovation systems

In this paper, we develop a problem-driven approach to innovation systems to account for the emergence of new knowledge and the long-term evolution of markets. We show that (1) science, technology and markets co-evolve along coherent trajectories of long-term change, which can be efficiently mapped by longitudinal network analysis of bibliometric data that are consistent with market-level data, (2) the inception of these trajectories corresponds to phases of close interaction within small entrepreneurial networks of multi-skilled practitioners that grow through the division of innovative labour and associated incremental change in specific and problem-centred micro-innovation systems, (3) as trajectories grow and develop, changes in knowledge alter structure and composition of final product markets and the likelihood of opportunities for new entrants increases with the distance between the knowledge bases of firms. As the knowledge that is necessary to solve new technical problems grows and as these are transformed by their very solutions, new ties are created and old ties decay in an open-ended co-evolutionary process of change in knowledge and industry organisation.

Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments

This paper explores the determinants of the stage distribution of European venture capital investments from 1990 to 2011. Consistent with liquidity risk theory, we find that the likelihood of investing in earlier stages increases relative to all private equity investments during liquidity crisis years. While liquidity is the main driver of acquisition investments and, to some extent, of expansion financings, technological opportunities are overall the main driver of early and late stage venture capital investments. In contrast to the dotcom crash, the recent financial crisis negatively affected the relative likelihood of expansion investments, but not of early and late stage investments.

Exploiting Knowledge Flows: Openness and the innovative performance of Business Services

Innovation requires a capacity to seek, absorb and utilize external knowledge, and an ability to develop, leverage or exchange internally-generated knowledge. Internally, it requires the structuring of information channels within and across hierarchical or divisional levels. Externally, it implies choices and costs in selecting and managing interactions and collaborations. Based on an original survey of open innovation practices amongst UK firms, this paper addresses this gap by exploring the impact of external and internal openness, the role of formal vs. informal knowledge sourcing practices (and their interaction), on the innovative performance of business services. Not only external but also internal openness positively affect the innovative performance of firm. Among different types of knowledge exchange mechanisms, informal practices are especially effective. On the contrary, joint engagement in formal and informal practices appears to decrease the firm’s share of innovative sales, a possible indica...

Health Innovation Processes at the Public–Private Interface

This groundbreaking book provides new key insights and opens up an important research agenda. The book develops a new taxonomy of the different types of innovation found in public sector services, and investigates the key features and drivers of public sector entrepreneurship. The book contains new statistical studies and a set of six international case studies in health and social services.

The ‘soft company’ business model of high-tech growth

Despite the overwhelming emphasis placed upon it in the innovation and entrepreneurship literature, the Silicon Valley model of venture capital investment is not the only way to develop new high-ri...