Identifying technical innovations

Technical innovation is a concept proposed by economist Joseph Schumpeter almost 50 years ago. Initially ignored, it is now considered the key to improving high-tech productivity. Most writers agree on a definition which identifies the start as a novel creative step, and the end as the time of commercial availability or general use. There appear to be two basic categories of technical innovation: the first stems from research or exploration, starts with some kind of breakthrough, and requires a long period to bring to market. The second is the result of a new planned effort and usually reaches the market in a fraction of the time required for a research innovation.