The cost of commercializing energy inventions
| Title: | The cost of commercializing energy inventions |
|---|---|
| Format: | Journal Article |
| Publication Date: | 1990 |
| Published In: | Research Policy |
| Description: | Inadequate financing is a common cause of failure among inventors and entrepreneurs striving to bring new energy technologies onto the market. This paper describes the cost of commercializing energy inventions and sources of funds used by successful entrepreneurs, based on data from the U.S. Department of Energy's Energy-Related Inventions Program (ERIP). On average, it has taken several years of work and $1.1 million for an ERIP technology to enter the market. Personal sources of funding play an important role throughout the development process, while external investors are practically invisible until the technologies are into mature stages of prototype development. The role for pre-venture government programs is clearly indicated from these findings, and is discussed. © 1990. |
| Ivan Allen College Contributors: | |
| Citation: | Research Policy. 19. Issue 2. 147 - 155. ISSN 0048-7333. DOI 10.1016/0048-7333(90)90044-7. |
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