Dr. Kwon’s presentation focused on the impact of digitalization on innovation, with a particular emphasis on Google patents, business innovations, and startups.
Dr. Kwon discussed the importance of identifying and accessing prior knowledge and technologies as a foundational step in innovation, which often involves substantial research costs. His experimental study examined how digitalization, through the Google Patents platform, reduces search costs and consequently influences the nature and direction of entrepreneurial innovation. The study analyzed 17,664 U.S.-based startups in the life sciences sector, revealing that digitalization increases both the quantity and quality of prior knowledge used as inputs for innovation, as well as the number and quality of patent applications generated as outputs. Findings also indicated that digitalization encourages startups to expand their search scope for innovation inputs, thereby improving innovation outcomes.
The seminar highlighted how digitalization transforms the way startups search for knowledge and foster innovation in the digital age. The presentation was also streamed online via Microsoft Teams for remote attendees.
