Stage Gate Model of Innovation - Indian Version 1.0
9 Pages Posted: 31 May 2011
Date Written: Decemeber 30, 2009
Researchers love their ideas, are blind to ground realities or do not receive signals from environment, with the result that most new product development projects end up either as technical failure or commercial failure. From the enterprise perspective , these are costly adventures. A typical R&D project starts with a small budget but expenditure/ commitments mount as the project is advancing from idea to prototype to commercial production. Researchers analyzed this and developed stage-gate model framework for decision points during the innovation process. This paper attempts three improvisations to the basic stage-gate model to suit the Indian context.
Keywords: innovation, research project, stage gate model, technology development, research budget
JEL Classification: O31, O32, O33
Suggested Citation: Suggested Citation