Chapter 3: Innovation management and innovation in the life sciences
While the first two chapters have been preoccupied with defining the theoretical framework for understanding biomaterials, the combining and mixing of biological systems and material artefacts, this chapter will address the more practical issues and concerns pertaining to biomaterials innovation. Chapter 2 dedicated significant space to discussing the ontological and epistemological framework enabling a historical understanding of how life and materials have been both aligned and mutually constitutive at the same time as they have been kept apart as distinct analytic categories. In this chapter, two bodies of literature will be reviewed: first, the literature on innovation and innovation management practices, a core field of research in business schools and technological universities as the predominant economic regime strongly encourages innovation and innovative capacities in all forms. The literature in this area is massive and it is beyond the scope of this book to seek to present an exhaustive literature review, but some of the key texts and perspectives will be examined. Second, the chapter will address what has been referred to as the ‘financialization’ of the economy, the increased reliance on the finance market and finance industry actors when funding both start-ups and more mature enterprises in the life-science-based industry. The literature on financialization is transdisciplinary and includes contributions from the fields of economics, economic sociology and political science.
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