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• W2526379231 abstract "Technological innovations vary considerably in terms of novelty and impact with only a minority of new inventions contributing considerably to economic growth. More recently a number of patent-based indicators have been advanced to capture the different characteristics of technologically important inventions among which the notion ‘radical’ figures prominently. Radical inventions combine a high degree of novelty with a significant impact on future technology trajectories. Within this contribution, we compare and validate these indicators within the field of biotechnology. An extensive analysis of the recent history of biotechnology allows to identify important inventions (n=290) for the time period 1976 – 2001. A considerable number of these inventions have been patented between 1976 and 2001 (n= 216; 75%). For all USPTO biotech patents filed between 1976 and 2001 (n= 84,119) relevant indicators have been calculated. Within a next step, logistic regression models are used to assess which indicators allow to distinguish between important, radical, inventions and their less noticeable counterparts. Our findings suggest the relevance of using multiple, complementary, indicators to capture the multidimensional nature of technological radicalness whereby ex post indicators clearly outperform ex ante indicators in terms of precision and recall. Introduction: Some inventions are more radical than others While the importance of technological innovation is widely acknowledged in terms of wealth creation, both on the level of economies and firms, the nature and impact of technological inventions vary widely. While some new technologies imply a relatively small extension of prior art, others completely disrupt or reshape the technological landscape of a field. In this respect, a variety of relevant distinctions have been advanced to delineate important inventions ranging from radical to revolutionary, breakthrough, discontinuity and disruptive. Important or radical inventions introduce new concepts that depart significantly from past practices, have the potential to disrupt existing markets, generate new markets and elicit follow-up innovations. As such, they can be seen as critical building blocks of a company’s or nations’ creative destruction capacity and long-term economic growth." @default.
• W2526379231 created "2016-10-07" @default.
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• W2526379231 date "2012-01-01" @default.
• W2526379231 modified "2023-09-22" @default.
• W2526379231 title "Validating Patent Indicators that Asses Technological Radicalness: The Case of Biotechnology" @default.
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