The states with the weakest innovation assets and ecosystems for starting and growing innovative firms face a bleak future unless changes are made.
Clark, who earned a Ph.D. in economics at Harvard with a dissertation on public investment in Tanzania, forswore Canada's version of this disruptive innovation, asset-backed commercial paper.
The innovation assets (i.e. the startups) begin outside the corporation and remain outside the corporation.
The corporation maintains full control of its R&D innovation assets at all times.
These innovation assets include everything from patents, technology, inventions, business models, customer contracts and even legal entities.
A useful framework for understanding corporate innovation distinguishes what "innovation assets" are controlled by the corporation from what belongs to others.
In the corporate accelerator model, the corporation maintains limited control of a startup's innovation assets during the time the startup is participating in the accelerator program.
In this model, innovation assets (i.e. startups and established companies) begin outside the corporation and are brought inside the corporation via acquisition.
In the corporate incubator model, the corporation maintains full control of its innovation assets until such time as the new company is spun out.
In the M&A model, the corporation maintains full control of a startup's innovation assets beginning at the time of acquisition.
As a result, innovation assets start outside the corporation, go inside the accelerator and then return to the outside economy, after completing the program.
