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Innovation

  • Mitt Nowshade Kabir
Chapter
Part of the Palgrave Studies in Democracy, Innovation, and Entrepreneurship for Growth book series (DIG)

Abstract

A core component of innovation is knowledge (Leonard-Barton 1995). Innovation depends on having the right knowledge at the right time. In the present digital economy, which is very different from previous stages of economic development, acceleration of knowledge growth in every industry is very high. In this new environment overwhelmed with information deluge, entrepreneurs and firms often scramble to discover the needed knowledge and incorporate to their knowledge base, so that they can exploit it for developing or refining products and compete in the marketplace. Knowledge-based social entrepreneurs in today’s rapidly changing environment where persisting social challenges are becoming even more complicated are forced to rely on new knowledge, new technology, and particularly on innovation to start new endeavors and sustain existing ventures. In this chapter, we provide a comprehensive review of innovation—a vital element for entrepreneurial success—and its complex and intertwined relationship with knowledge and technology.

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© The Author(s) 2019

Authors and Affiliations

  • Mitt Nowshade Kabir
    • 1
  1. 1.North YorkCanada

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