Public Goods is the bedrock for Business Innovation
Public goods are potential fuel for innovation, they are free and friction-less. Elsewhere in the world, Public goods have provided a bedrock on which companies have built products and services creating new economies.
For instance , take the case of iPhone by Apple Company, the pathbreaking product in the mobile industry Each of its core technologies–capacitive sensors, solid-state memory, the click wheel, GPS, internet, cellular communications, Siri, microchips, touchscreen—came from research efforts and government funding support. Hence iPhone was the dividend of and the result of public goods created by government funded research projects.
GPS is another public goods and is a foundational component in products such as Google maps and services such as Uber, Ola , What3words and more .
