Economic development and market impact of radical innovation on the food industry via TT U-I

Abstract

The adoption of open innovation by the food industry is on the rise, seeking research and development (R&D) through technology transfer from the university. Radical innovations are relevant for agribusiness and can lead to major changes and generate benefits. This study investigated the economic development and market impact of a radical innovation in the food industry via technology transfer university-industry (TT U-I), based on the contingent effectiveness model of TT. The TT innovation in this study regards the discovery of a molecule that is capable of extending shelf life of pre-processed food. The results showed effects of the innovation that the Model had not plotted, namely revenue extended to supply and productive chains, profitability beyond the enterprise, TT as a source of incremental innovations, vast potential to create new jobs and new businesses, international economic impact, and return of licenses to the agent (university), which promoted investments in new TT processes. Copyright © 2023 Inderscience Enterprises Ltd.