In this article Piero Formica examines the difference between incremental and revolutionary innovation, distinguishing between the constrained "path finders" and the unconstrained "path creators". He argues that an acceptance of "ignorance" and a willingness to venture into the unknown are critical elements in…

In this article, Piero Formica considers how new approaches to the notion of the university exemplify the value of creative ignorance in driving entrepreneurship and promoting a new culture of innovation based on blue sky science and open-mindedness. He takes the examples of the Minerva Schools, the Unreasonable Institute and the Singularity…

This paper articulates the opportunity of using an experimental business laboratory approach as a means of accelerating the creation, incubation and testing of new venture ideas. Such a strategy leads to the establishment of a micro-ecosystem of aspiring entrepreneurs and others in a business laboratory environment. The goal is to create a mini…

Industrial culture focuses mainly on the production of "things"--of static objects. Knowledge, on the other hand, is constantly in flux, like a flowing stream. Conventional industrial notions lead policy makers to believe that the addition of a knowledge-based industry to an existing industrial base makes a knowledge economy. This is not the case.…

Central to the process of innovation is cooperation and competition between research and development activities in universities and business. This may be achieved by increasing the value of intellectual entrepreneurship, exploiting innovations commercially and reinvesting profits in the advancement of knowledge, and generating spinoff enterprises.…

The sustained phase of transition to economies characterised by considerable, and sometimes revolutionary, advances in science, technology and related industries, coupled with subsequent profound changes in economy and society, has increased the importance of the knowledge-intensive phases of production for value-creation. As enterprises, in fact,…