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These investments are leading to an innovation environment that may be better today than it has been in
living memory. In order to capture this potential, however, we need a radically new approach to innovation support from the social sciences, to help businesses navigate the many uncertainties along the way from basic science to practical impact. This should build on a better understanding of the multiplicity of factors – technological, regulatory and societal – that determine not just which innovations reach a marketplace, but also the innovative capacity and competitive advantage of industry sectors, regions and countries.