Contribution to research, limitations, and future research

In addition to practical implications, the present study also contributed to existing literature. This study contributed to the current understanding of how early stages of the innovation process for radical innovations in academia can be effectively managed. The holistic analysis of this study added to existing research by identifying a group of five important characteristics that should be considered in early stages of the innovation process, compared to a group of four characteristics that are less important. To holistically analyse the priorities of these characteristics, has not been done before. The study confirmed results of existing studies that also emphasized the importance of certain characteristics like availability of financial resources (e.g. O’Shea et al. 2005, Link and Siegel 2005, Decter et al. 2007, Powers and McDougall 2005, Dibner et al. 2003, Hall and Bagchi-Sen 2007). However, the present study also identified characteristics like drug development expertise that were not emphasised in existing innovation management and technology transfer literature, and only partly in biotechnology-focused studies (e.g. Albani and Prakken 2009).