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Paper short abstract

This is an attempt to find relations between sectoral and technological innovation systems, and the innovation market. The firm's perspective predominates. A special attention is devoted to the innovation market, its structure and specific features, poorly developed in the world's literature.

Paper long abstract

This is an attempt to find relations between innovation systems, especially sectoral and technological systems of innovation, and the innovation market. The firm's perspective predominates. After a short presentation of both systems, a special attention is devoted to the concept of the innovation market, its structure and specific features, poorly developed in literature. The innovation market, however, is a broader term than the new technology market.

The characterized market is a specific concept. This is not a sectoral market but rather a generic market. There exist certain differences and, at the same time, relations between the sectoral innovation system (SIS) and the innovation market:

• Admittedly, both concepts come from 'different shelves' but they overlap,

• Simplifying, the SIS may be understood as a set of entities engaged into innovation activities in a given branch while an inborn feature of the innovation market, like of each market, is that it has 'two sides of the coin', i.e., demand and supply,

• As the very name suggests, the technological innovation market refers to technical novelties while the SIS includes both the emerging technologies as well as the hitherto existing ones,

• It seems to us that the innovation market concept should be limited to a given country while the SIS, like each industrial sector, much goes beyond country boundaries,

• As a link between the SIS and the innovation market may be treated the technological innovation system that assumes a key importance of supplier-buyer relations, i.e., the market context.