7.8 Innovation Transactions and Value Streams

Innovation Transaction defined: A formal transfer of codified knowledge between two entities in accordance with an agreement. Includes but extends beyond traditional commercialization transactions

Why do innovation transactions matter?

  • Essential for extracting value from innovation.  Very few organizations have all the capabilities needed to extract value from their innovations
  • Generating the right volume and type of innovation transactions is essential for generating societal value at the innovation systems level and is an essential component of value, performance and accountability for public institutions
  • Value potential of innovation transactions can be modelled using value streams

Innovation Transactions and Value Streams