Technology spillovers

Technology spillovers occur when innovations or improvements developed by one company, research institution, or industry unintentionally benefit others. For example, new research in one firm might lead to advances in nearby industries or inspire competitors to develop similar technologies. These spillovers can accelerate overall economic growth and innovation, as the knowledge created doesn't stay confined but spreads more broadly. They highlight how technological progress often benefits more than just the originator, fostering industry-wide development and increasing productivity across multiple sectors.