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.