Annals of the University of Oradea: Economic Science (Dec 2021)
DOES THE PARETO PRINCIPLE APPLY IN THE INNOVATION FIELD IN ROMANIA?
Abstract
The technological transfer entities can obtain income by establishing robust partnerships with the business environment and using the fiscal facilities offered by the region where they produce the innovation, applying for non-refundable funds, attracting individual donors, charging a membership contribution to the organization members, exploitation of innovation produced by the sale of intellectual property. A robust innovation ecosystem is based on public and private investments which complement each other to reduce the risks and to divide profits by increasing the capacity of innovation and technological transfer of the technological transfer entities. The Gauss distributions are continuous probability distributions. These are” normal” distributions which illustrate the likelihood that a certain event takes place. A gauss distribution has the shape of a bell with most values distributed around the average value and can be fully described by variance and mean. A classic example is the distribution of patents value or profit obtained because of sale of intellectual property rights. The Pareto-type distributions are found in other phenomena around us, such as the size of economic entities follows a Pareto distribution. Pareto-type distributions are more suitable to describe the economic phenomena than the Gauss distributions, for instance, 80% of the world richness is held by 20% of population (principle 80-20 which means 80% of results are caused by 20% of causes). The innovation phenomenon is deeply systemic, multifactorial, multifunctional, dynamic and complex, determined by the whole socio-economic background which influences the innovation ecosystem. Therefore, its study for the highlighting of the intervention opportunities at level of fiscal and financial policies, but also at operational level, requires an adequate, multilateral and complete systemic approach.
