Company and University Innovation during an Industry Incubation Phase: Evidence from Quantum Computing
62 Pages Posted: 12 Sep 2024
Date Written: August 11, 2024
Abstract
Uncovering factors that shape the trajectories of technologies during the incubation stage is crucial for maximizing value creation potential. Yet, existing studies have predominantly focused on characterizing innovation activities in later industry stages after a technology has already become commercially viable, largely due to difficulties of obtaining reach incubation stage data. In this study, we document incubation stage innovation efforts in quantum computing guided by insights from the existing literature on industry evolution, on university and company innovation, and on enabling technologies. Our analysis aligns with the hypothesized important roles of company innovation, collaboration between companies and universities, and reduction in demand and technological uncertainty during the incubation stage. It also highlights the critical importance of value capture strategies, which are especially essential yet challenging to develop during the incubation stage of enabling technologies.
Keywords: Innovation, Incubation, Enabling Technology, General Purpose Technology, Quantum Computing
JEL Classification: O30, O32, O31, O33, O34, O10, O39
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