ABSTRACT
A major challenge in every science- and technology-driven industry is the continuous development of novel products, concepts, and designs based on new scientific achievements. It requires a bridging of the gap between the organizations that conduct fundamental and applied research (universities, academic hospitals, research institutes, and industrial research departments) and those that develop them (existing and newly created companies). Apart from the generation of new knowledge and its effective transfer to business and society (i.e., commercializing scientific discoveries), science-based venturing includes distinctive roles that have to be taken by scientists, entrepreneurs, and small and large businesses.
