Overview
Innovation systems are crucial for fostering economic growth in regions by creating networks that support the development and diffusion of new ideas. These systems involve collaboration among businesses, government, and research institutions, which together enhance knowledge transfer and drive innov...
Key Terms
Example: Silicon Valley is a prime example of an innovation ecosystem.
Example: Investments in infrastructure can lead to regional development.
Example: Workshops can facilitate knowledge transfer among employees.
Example: A new factory can have a positive economic impact by creating jobs.
Example: Many tech startups aim to disrupt traditional industries.
Example: Universities often serve as research institutions.
Related Topics
Entrepreneurship
The process of starting and running new businesses, often linked to innovation.
intermediateEconomic Development
Strategies and policies aimed at improving the economic well-being of a region.
intermediateTechnology Transfer
The process of sharing technology between organizations or countries.
advancedKey Concepts
Innovation EcosystemRegional DevelopmentKnowledge TransferEconomic Impact