Stage 1: Research—Selecting Performance Metrics Based on Academic, Economic, and Social Impact

Abstract

This chapter identifies the four causes behind the failure to select the appropriate research initiatives in early stages of the innovation process: choosing nonholistic performance metrics to decide among projects, a lack of knowledge sharing among agents of the research center, and a lack of either academic or business experience in senior roles. Then, the author examines four practical tools that leading institutions are implementing to solve those problems at research centers: prioritizing projects based on a collection of academic, economic, and social impact metrics; mapping each researcher’s focus of study through a research map and incentivizing collaborations and sharing the best practices among them; using professional recruitment for academic and executive directors; and attracting an international advisory board.