A New Innovative Product Portfolio in Latvia and Its Availability on the Market (Business Incubation Programme 2009-2014)

Abstract

New product development is a very important issue for economic growth and welfare growth in general. The support programme of business incubators plays a significant role for operation of start-up companies in their creation of new products. In spite of it many enterprises of business incubators are not able to finish their innovation process, which shows on necessity to research these problems. The aim of the research is to investigate the portfolio of new products which were developed by Latvian Start-up companies in the frame of the Business Incubation Programme 2009-2014, related to commercialization and market uptake. The research is based on the authors’ conducted research as a part of scientific grant of Rezekne Academy of Technologies „New product development process modeling and analysis in Latvia – innovation barriers”. The following methods are used in this research: content analysis, deductive, logical and comparison, and word cloud methods. As a result, the authors worked out and offered the word cloud of innovative products, which are produced in business incubators in Latvia, and which are available in markets. The authors worked out the word cloud of New Products, which are produced in business incubators, but are not on the markets.