24/04/2022
Given that innovators are predominantly men from privileged backgrounds…Researchers imply that the gains from innovation are directed at the same customer group…Men from privileged backgrounds!
Does it mean that there are many underserved markets?
Not necessarily. Let me explain: An innovator increases the chances to create products that meet the needs of a broad group instead of his' or hers’ when the said innovator mingles with people from a different group.
So, fellow entrepreneurs, Men and Women: Hang out with a diverse crowd of people to reach out to a broad customer base and increase your chances of success!!
Source: Source: “Social Push and the Direction of Innovation,” published in 2020
by
* Elias Einio, VATT Institute for Economic Research
* Josh Feng, University of Utah – Eccles School of Business
* Xavier Jaravel, London School of Economics