TRENDS IN FINANCIAL INNOVATION. PERSPECTIVES ON FINANCING INNOVATION
TRENDS IN FINANCIAL INNOVATION. PERSPECTIVES ON FINANCING INNOVATION

Summary/Abstract: INTERNAL GROWTH IS REQUIRED IN ALL CASES WHERE THE ACTIVITY (GROWTH OF AN ACTIVITY OR GROWTH VECTOR) IS NOT AVAILABLE ON THE MARKET. IT IS ALSO REQUIRED IN THE EMERGING SECTORS, WHERE THE GROWTH OF THE COMPANY TAKES PLACE THROUGH INNOVATION AND THE CREATION OF A NEW PROFILE OF THE COMPANY. INNOVATION IS CONSIDERED AS A NEW COMBINATION OF IDEAS, RESOURCES AND SKILLS THAT RESULT FROM THE LEARNING PROCESS NOT ONLY INSIDE A COMPANY BUT ALSO FROM THE VARIOUS NETWORKS IN WHICH THE INTERACTION BETWEEN THE DIFFERENT ACTORS ALLOWS INNOVATION TO OCCUR. THUS, THE FIRMS TO BE INNOVATIVE NEED TO BE OPEN, WHILE BEING DEPENDENT ON EXTERNAL RESOURCES IN THEIR INNOVATION ACTIVITIES. COMPLEXITY THEORIES REGARD ECONOMIC AGENTS (ENTREPRENEURS, FIRMS, CORPORATIONS) AS COMPLEX ADAPTIVE SYSTEMS, WHOSE INTERACTION, EVOLUTION AND DYNAMICS ARE DIVERSE, DIFFICULT TO PREDICT, CONTRADICTORY, PARADOXICAL AT SOME SCALES. IN THIS PERSPECTIVE, INNOVATION APPEARS AS A NATURAL, ENDOGENOUS, INTELLIGIBLE PHENOMENON OF ECONOMIC ACTIVITY.

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