Sources of Funds for Innovation at Colombian Companies According to Their Innovation Typology or Degree of Innovation
Journal Title: Revista CEA - Year 2022, Vol 8, Issue 18
Abstract
Nowadays, knowledge-based innovation is considered a driver of companies’ progress, productivity, and competitiveness, as well as countries’ economic development. However, one of the main challenges that companies face when they try to innovate is difficult access to resources to fund their innovation activities. Therefore, this study analyzed how the funding decisions for innovation activities made by Colombian companies differ according to their degree of innovation. This study adopted a cross-sectional design with a descriptive and correlational scope, using non-parametric quantitative techniques. The sample was composed of 8,651 answers to the 2016–2017 Survey of Development and Technological Innovation in Colombia by companies in its services and commerce sectors. The results confirm that companies’ sources of funds for innovation activities differ according to their degree of innovation. Furthermore, their own resources are the main source of funds for these activities. This paper makes important contributions that can represent guidelines for establishing and managing public policies that enable a fast and effective corporate access to resources for funding innovation.
Authors and Affiliations
Carlos Gilberto Restrepo-Ramírez, Claudia Inés Sepúlveda-Rivillas, Juliana Uribe Castro
Keywords
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- EP ID EP716656
- DOI https://doi.org/10.22430/24223182.1968
- Views 20
- Downloads 0
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