Financing Innovation In The Energy (Power Generation) Sector: A Comparison Between The United Kingdom And Colombia

Proyecto: Investigación

Detalles del proyecto

Descripción

Sierra (2014) sums up the relation between innovation funding and innovation development in the following terms: both innovation and resource allocation are strategic activities in any given company. Companies innovate to improve or strengthen their competitive position. Innovation strategy is, therefore, a component of competitive strategy; this means that any activity related to innovation development, namely how to do it and how to fund it, involves strategic decision-making on the side of the company management. Some scholars have proposed the existence of a virtuous cycle by which companies develop and use or sell new services and goods to gain a better position over their competitors (equivalent to a relatively dominant market position ultimately represented by a bigger market share and higher profit), whereby additional profit can be either devolved to company owners or dedicated to boost new research and development processes that will, in turn, generate newer services and goods (e.g., (Scherer, 2001)). Thus, this research starts by finding out how much money is invested in the innovation of the energy sector in Colombia and the UK and who provides such funding. Apart from establishing such descriptive information, the main aim is to understand the decision process that companies and organizations undergo to determine which projects to finance or not and why they do so or not. A comparison will help to determine what the financing differences are and to figure out the reasons for such country variation in one key economic sector and activity. Specifically, this study will inquire about the funding of R&D projects related to the power generation activity. This knowledge can help companies and other organisations to understand how the funding needed to carry out innovation projects in this sector is allocated. It can also help the government and other agencies to understand the decision process in order to tailor-design different policies to improve the development of the sector. Moreover, it will also help to build up a better explanation on how such funding decisions concerning a given sector vary along time and with contextual differences. Some interesting related research questions we will address are: - Which types of investors fund projects of innovation in the energy sector in Colombia and the UK? - Which companies or institutions are most substantially involved in innovation in this sector in Colombia and the UK? - How much is invested in innovation in Colombia and the UK energy sector? - What is the decision process followed to decide whether or not to invest in the different projects in Colombia and the UK? - What characteristics do investors/institutions in this type of project possess in Colombia and the UK? What characteristics do innovation projects have in Colombia and the UK? - How do the UK and Colombia compare in terms of the sector, the innovation activities, and the main players?
EstadoFinalizado
Fecha de inicio/Fecha fin01/03/1730/11/19

Financiación de proyectos

  • Interna
  • Vicerrectoría de Investigación
  • PONTIFICIA UNIVERSIDAD JAVERIANA