ABSTRACT
Let’s pause and take a waypoint-a waypoint is a stopping place on a journey. We will use Figure 1.1 in Chapter 1 as our map, as it illustrates the translation process that investment must go through to deliver innovation. The translation process has macro and micro processes and outputs within it. The previous chapters defined the major macro processes of research, development, and commercialization. The outputs of these processes are invention, patents, and trade secrets, which result in technology. Examining the procedure of cardiac stenting illustrated how it took at least three major technologies to create the product. This demonstrated the cycle of R&D leading into technology and the realization that technology is an input into the New Product Development and commercialization processes.
