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Analyzing the Impact of Scientific and Technological Innovations on Financial Performance: A PCA-Based Study of an AI Healthcare Startup

Year: 2024

Type: article

Abstract: This study explores the relationship between scientific and technological innovations and the financial performance of startups, focusing on a representative Artificial Intelligence (AI) healthcare startup. Utilizing Principal Component Analysis (PCA), the research aims to dissect the complex interplay between innovation-related metrics—such as R&D spending, patent counts, and technology adoption rates—and financial outcomes like revenue growth, profitability, and market share. The PCA methodology enabled the reduction of high-dimensional data into PCA, which clearly illustrates how several dimensions of innovation impact financial metrics. The approach used in the investigation helps people comprehend more thoroughly how development benefits business viability in several different manners and provides startups with practical advice to use when preparing their revolutionary investments. This paper aims to assist the ecosystem of startup consumers (including investors, business owners, and policymakers) in making better decisions that balance technological progress with economic objectives.

Source: Journal of Machine and Computing

DOI: 10.53759/7669/jmc202404103

Authors: Hayder M A Ghanimi, Girish Kumar Painoli, Dipenkumar Contractor, Sowjanya G N, Vani Lavanya A, Kamal Poon

Institutions: University of Kerbala, University of Warith Al-Anbiyaa, Koneru Lakshmaiah Education Foundation, St. Joseph's Institute of Technology, Southern Arkansas University

Language: English

Topic: Firm Innovation and Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W4403156894

FWCI:

Cites: 15

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Related to: 10