The financial sector is living a profound crisis in order to keep pace with the continuous technological breakthroughs that come out daily, while other sectors seem to be historically more growth-by-innovation-based (e.g., the pharma/biotech sector). This work focuses on an interdisciplinary approach to innovation, and on insights that the banking sector can draw from the pharmaceutical one. Hence, a unique dataset has been built, and it collects information on the most relevant players for both the fields. Different indicators have been created as well in order to empirically test whether the financial industry is actually less innovative with respect to the pharmaceutical one, and to understand the best growing strategy for the banking industry. The results confirm that there is an innovation gap between the two industries, as well as identify the corporate venture capital as the best mean to drive business growth through innovation.
Category - Francesco COREA
LUISS Guido Carli University, Italy