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The diffusion of an innovation is the process by which an innovation is communicated to and adopted by potential users. Understanding why an innovation will be adopted or not, and at which pace, is obviously very important for new ventures. The understanding of the diffusion process goes hand in hand with the understanding of what is an innovation. An innovation is a product, a service, or an object that is perceived as new by potential adopters. Therefore, most new ventures will base their early development on an innovation (something perceived as new) and will aim at having this innovation adopted by (sold to) the highest number of potential clients.

Studies on the diffusion of innovation started in the 1960s, based on the seminal work conducted by ...

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