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Case Scenario
Jason and Edwin are in their final year of study at a local university. They will soon graduate with a "Masters of Engineering" degree after completing a successful joint research into how they could harness electrical energy from radio waves emanating from wireless devices. They are both excited by the follow-on potential and have made plans to form a start-up enterprise to work on their discovery. They are aware of low-cost incubation workspaces and innovation grants available from the Government. However, they hope that more can be done by the state. Despite humongous challenges ahead, both young men, driven by their passions, are determined to succeed in their upcoming endeavour. Answer all the following questions. Illustrations should be based on the given case scenario. In-text citations and an end-text reference list are required.
Question 1
(a) Differentiate between invention and innovation, using your own words. Illustrate each based on the given case scenario.
(b) Using an appropriate theoretical framework, appraise the nature of uncertainty faced by Jason and Edwin in their endeavour, and recommend what immediate action they need to take.
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