Conference Agenda

This paper analyses various innovation strategies of firms. Using the 2019 wave of the Community Innovation Survey in Nigeria, we have traced the innovative behaviour of firms and examined the extent of R&D engagement, the drivers of R&D activities, the relationship between these drivers and innovation performance, and the influence of technological acquisition on three main innovation types (Goods, Service and Business Process) at firm level. The analysis of this study is based on a sample size of 833 innovative active firms. Quantitative data collected were analysed with the aid of descriptive analysis and binary logistic regression statistical tools. Our analysis reveals that a high proportion of firms (94.2%) consider innovation a top priority. Management dedicates time to innovation activities in most firms (76.6%). Similarly, a large share of firms has a formal innovation strategy. A strong focus on R&D is evident in the corporate strategies of most firms. However, measuring innovation performance is less frequent, with only 70.6% of firms doing so. Using Binary Logistic model, we explained the determinants of each and every innovation types with the explanatory variables. Firstly, for Goods Innovation, our analysis reveals that manufacturing firms are significantly more likely to innovate in goods compared to service firms (OR = 2.817, p < .05). In addition, firms focusing on improving the quality of their products are more likely to innovate, as quality enhancements often require new processes and technologies. Conversely, firms that engage in R&D to enhance the quality of services show a decreased likelihood of goods innovation (OR = 0.316, p = .058, 95% CI = 0.096-1.041). Secondly for Service Innovation, result shows that only firms motivated to conduct R&D to meet customer needs are significant probability to positively influence service innovation. Lastly for Business Process Innovation, result shows that only firms motivated with making goods safer or more environmentally friendly have marginally significant probability (OR=2.899, p = 0.052, 95% CI= .993-8.462). In conclusion, specific tailored-need efforts and policies are key to develop more effective strategies to foster innovation and enhance the competitive advantage of firms in Nigeria.

Firms typically invest a significant portion of their resources in basic research to generate new ideas and technologies. However, turning these ideas into marketable products can be challenging, and firms often struggle to bridge the gap between prototype development and successful product commercialization. Scholarly literature provides little guidance on how this gap can be overcome and on the role of broader organizational factors in this process. The main objective of this study is to assess the firm-specific, market-centric, and policy-related determinants of commercialization valley of death (CVD) encountered by techno-business firms in Uganda. A quantitative research method was employed, using interviews and observational approaches. This method involves gathering evidence through observations and interviews with techno-business entrepreneurs. Observations were made to understand the interactions and contextual factors associated with CVD. Interviews were conducted to gain insights and experience regarding the firm-, market-, and policy-related determinants of CVD. The findings indicate that market dynamics, strong R&D infrastructure, technological expertise, product awareness, and supportive government regulations are crucial determinants of CVD among techno-business firms. Bridging CVD hinges on sustainable financial systems, effective partnerships/collaborations, strong global linkages, and the availability of R&D infrastructure. This study makes theoretical and policy contributions to the literature by highlighting the firm-specific, market-centric, and policy-related determinants of CVD. Ultimately, this study presents a solution that techno-business firms can implement to improve the benefits of innovative technology and product development to achieve commercial gain and overall economic growth. This would generate transformational development by increasing industrial output and strengthening the linkages between techno-business firms and the industrial sector.