You are on page 1of 1

Risk Taking and Market Making Along Entire Innovation Chain

Invention: functional Business Validation Innovation new firm or Visible business


Patent prototype program

3. Early stage 4. Product


1. Research 2. Concept/Invention 5.
technology development Production/marketin
development
g

NSF, NIH, VS Corporate venture


Angel investor,
DARPA SBIR, InQtel, fund, equity,
corporation,
Coorporate NIH, ARPA-E, commercial debt
technology labs
research Yozma
SBIR, NASA

Source frequently funds this technological stage

Source occasionally funds this technological stage

You might also like