Innovation and knowledge transfer in emerging fields: The case of nanotechnology in Australia

During the last five decades, the models of innovation have changed substantially. The third, fourth and fifth generation innovation models that have evolved sequentially in the last three decades have been increasingly more complex and sophisticated considering more and more elements in their representation. In this article, Dana Nicolau attempts to revise the existing models of innovation and their appropriateness in the context of the new emerging technologies such as nanotechnology. Nicolau attempts to highlight the connection between knowledge transfer and production and innovation. Specifically, a model of innovation is presented which attempts to address the particular situation of Australia with special emphasis on the state of Victoria.