The majority of effort and money invested in technological innovation comes from industrial firms.

Question

Quizplus · Accepted Answer

This is true. Industrial firms, including large corporations, invest heavily in research and development to create new technologies and improve existing ones to gain a competitive advantage in the market. They have the resources and capacity to fund extensive research and can benefit from the resulting technologies in their operations and products. Other stakeholders, such as government agencies, academic institutions, and venture capitalists, also contribute to technological innovation, but industrial firms are the primary drivers of innovation.

The Majority of Effort and Money Invested in Technological Innovation