Innovators may have the better mousetrap but typically fail when they cannot raise capital to drive revenues. Even then, there are other factors to consider.
Projects cost more than planned. Revenues due not ramp up as fast as the business plan suggests. Capital takes longer to raise and is more costly than promoters expect. Reliance of tax credits and other inducements is very political and if the project returns are based on these then it is reluctantly in peril.