Accelerate deployment of Innovation Ecosystems for businesses, governments, universities, non-profits and communities all across the world.
Innovation Ecosystems (frequently referred to as Clusters) are a fundamental ingredient to driving national economic competitiveness. According to research and case studies Innovation Ecosystems experience higher growth rates of employment, wages, start-ups, productivity, exports and patents. Innovation Ecosystems are important to the vitality of incumbent industry clusters and also help launch entrepreneurial initiatives that create whole new industries.
Innovation is more than invention. It is the end-to-end process by which knowledge is transformed to a useful purpose such as a new product, a new manufacturing process, a new marketing methodology or a new business model combining elements of all.
An Innovation Ecosystem is a collaboration of businesses, research centers, educators, entrepreneurs, investors, services, government entities, associations and non-profits that are motivated to advance innovation for economic and social benefit. They are multi-disciplinary, collaborative, market driven and focused on creating new value for end users.
Innovation Ecosystems are not top-down uniform undertakings. No two are exactly alike. Each are cultivated bottom-up and evolve organically and conjointly by ambitions intrinsic to the participants. A strong ecosystem depends on cross pollinating with unconventional partners and reinventing relationships with established partners. They represent a new economic growth model.
Within an Innovation Ecosystem are a portfolio of projects such as accelerating the commercialization of university research results. These projects are monitored for outcomes and findings are shared across the ecosystem. With fast feedback participants in the ecosystem learn quickly what is working and what is not working and adapt based on those assessments.
Innovation Ecosystems do not require substantial financing to be successful. When organizations align their agendas toward a shared vision and strategy, the focus shifts to building “relationship capital” to leverage activities and resources.
Questions around which to organize an Innovation Ecosystem
What is the value proposition we will offer end users to drive our innovation ecosystem?
How must our people and organizations learn, improve, communicate and work together?
Who is our customer and how do we connect to regional, national and global markets?
Where do we obtain the ideas and needed human capital, skills and aptitudes?
How to we accelerate new product development and business creation?
What kind of facilities and support infrastructure is needed for the Innovation Ecosystem?