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Innovation CommonsThe Origin of Economic Growth$
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Jason Potts

Print publication date: 2019

Print ISBN-13: 9780190937492

Published to Oxford Scholarship Online: August 2019

DOI: 10.1093/oso/9780190937492.001.0001

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Origin of the Innovation Trajectory

Origin of the Innovation Trajectory

(p.83) 5 Origin of the Innovation Trajectory
Innovation Commons

Jason Potts

Oxford University Press

This chapter explains how innovation commons work, in terms of the mechanisms of entrepreneurial discovery through institutions to pool information, and what specific problems they solve in order to discover entrepreneurial opportunities. It introduces the proto-entrepreneurs in the innovation commons, who are people exploring a new technology but who have not yet figured out the entrepreneurial opportunity. It introduces the dual-discovery problem, which is the problem of finding the people who will pool ideas into the innovation commons as well as the problem of finding the entrepreneurial opportunity. And this chapter also introduces the concept of the fundamental transformation, which is the institutional transformation when the innovation commons collapses in its extant form (although many institutional pathways are possible from this point onwards). It defines the innovation commons analytically as a higher-order discovery mechanism in institutional space.

Keywords:   institution for discovery, fundamental transformation, proto-entrepreneur, innovation trajectory, dual discovery

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