Ulrike Stefani, Francesco Schiavone, Blandine Laperche and Thierry Burger-Helmchen
European Journal of Innovation Management, 23, 2, 314-328
Année de publication : 2020

Purpose – The expectations surrounding innovation as the principal mean by which firms gain a
sustainable advantage while simultaneously alleviating social problems are tremendous. However, in the
process of developing innovation, many small entrepreneurs, SMEs, as well as large firms struggle to access
the necessary finances in order to further develop their innovative projects. The purpose of this paper is to
underline some of the most recent tools and practices used to finance novelty.
Design/methodology/approach – This paper synthetizes some thoughts about the financing of novelty
and proposes a research agenda based on trends highlighted in the recent literature.
Findings – This paper pinpoints recent advances in finance applied to the field of innovation. In particular,
this paper highlights both promising developments as well as the need for more research in this area in order
to untangle the links between creativity and financial support, the financing of innovation in developing
countries, accounting and evaluation of ideas.
Social implications – The importance of developing innovation and easing access to resources has societal
implications. The development of education around finance and entrepreneurship, as well as improving
literacy of citizens in these fields could yield a more open view on innovation and financial supports in
the future.
Originality/value – Financing novelty, evaluating projects and facing uncertainty are among the most
difficult decisions investors take. This paper combines many dimensions of innovation and finance to
construct an overview of current and future practices within both domains.