Here's an interesting chart of what the author proposes as The Ten Types of Innovation.
Often fostering innovation and entrepreneurship in South Carolina focuses on technology transfer out of universities. Yet technology transfer is a driver for only one of the ten types of innovation identified here, Product performance. Some of most valuable companies created in the past several decades, like Dell and Wal*Mart, market mature products through innovation business models and marketing channels.
If the Sam Walton of 2006 were to appear in South Carolina, we wouldn't give him any economic development incentives and he wouldn't qualify for many of our entrepreneurial development programs because he is a retailer.
Does that make any sense?
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Sam Walton '06 should not feel slighted. Early stage, knowledge-based, university-spinout biotech companies don't qualify for economic development incentives in SC either.
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