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Abstract

Innovation intensity in firms depends on resource availability, primarily financial and human resource constraints. The paper proposes a theoretical framework for investment into innovative capital in the case of limited resources. By relying on the fragmented literature on innovation under resource constraints, the model proposes a comprehensive theoretical framework, which answers 3 questions: (1) Which innovation types are more relevant in resource limited environment and why, (2) which resources do they need and why at which stage of the innovation process, (3) what processes companies should embrace in order to kick-off the innovation activity (where should they start from), to successfully embark eventually all types of innovation, and how synchronous innovations explain the transition from one type of innovation to another.

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