Innovation Ecosystems | Definitions, Actors and Applications

Numerous studies in economics have revealed that innovation drives economic growth and development. As such, the ability to innovate is critical for countries to continue developing and to resolve problems of poverty and unemployment. The question then arises; how does a country ensure innovation? In this regard, innovation ecosystems have been shown to be critical to continued innovation, but innovation ecosystems are also crucial in graduating ideas and innovation to commercially viable and societally impactful products. Consequently, topics on innovation ecosystems are crucial as they provide a framework for understanding and promoting innovation in general as well as within specific contexts. Innovation typically emerges from the joint efforts of multiple stakeholders, including entrepreneurs, researchers, investors, policymakers, and support organizations. As such, by analysing and refining the interactions within the ecosystems, we may create or improve an environment that fosters and promotes innovation.

Within this context, the book examines the concept of innovation ecosystems and its role in promoting creativity, collaboration, and economic development. The book explores this vital subject, delving into several of its numerous facets, including definitions, key components, stakeholders, and the dynamics that drive these ecosystems. By providing a thorough understanding of how innovation ecosystems function and evolve, the book aims to bridge theoretical concepts with practical insights on developing, nurturing, and sustaining successful ecosystems. 

Furthermore, it will offer a global perspective by examining trends and examples from various regions—including selected European countries, Türkiye and South Africa—and sectors such as biotechnology, renewable energy and the arts. By highlighting innovation ecosystems across diverse countries and cultures, the book aims to resonate with readers worldwide. Overall, this unique work will cover a wide range of topics while providing actionable strategies that empower readers to easily understand and engage with innovation ecosystems.