Learning from Global Pacesetters to Build the Country Innovation Ecosystem
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Learning from Global Pacesetters to Build the Country Innovation Ecosystem Mohammad S. Khorsheed 1
Received: 12 November 2015 / Accepted: 20 January 2016 # Springer Science+Business Media New York 2016
Abstract Countries with advanced innovation systems are consolidating and optimizing their National Innovation Ecosystem (NIE) frameworks. In contrast, emerging economies are formulating their own NIE frameworks in order to capitalize and build on the nation’s advantages to create self-sustaining innovation capabilities to compete internationally. The challenge is not to copy the best performers but to define their own original innovation policy, taking into account specific strengths, weaknesses, priorities, and cultural and institutional traditions. This paper presents detailed study cases for the following three countries with high level of innovation: Finland, South Korea, and Singapore. It summarizes each country’s experiences and key findings. The paper concludes with a set of pillars to be taken into consideration when designing NIE or revising an existing one to encompass the realm of activities needed for a country to reach its goals. Keywords Competitiveness . Economic development . Entrepreneurship . Innovation . Knowledge-based economy
Introduction Since the 1950s, economists have observed that factors related to technological change and innovation account for a large proportion of economic growth (Peters 2006). Knowledge is considered as the key ingredient in technological change and innovation. It transforms specific ways in which industrial activities are conducted. Moreover,
Professor Mohammad Khorsheed is the former GE Innovation Officer in Saudi Arabia and the Secretary General of the Steering Committee for Saudi Innovation Ecosystem
* Mohammad S. Khorsheed [email protected]
1
King Abdulaziz City for Science and Technology (KACST), PO Box 6086, Riyadh 11442, Kingdom of Saudi Arabia
J Knowl Econ
knowledge can completely alter the process through which products and services are produced and consumed (Gulbrandsen 2011). Knowledge and the ensuing technological change bring about structural shifts in any economy and consequently in any society. Innovation involves the successful introduction of new technologies, methods, techniques, or practices into production or introduction of new or altered products and services into the marketplace (Zyl et al. 2007). It could have various shapes and styles, product-related vs. process-related, disruptive vs. incremental, and fundamentally technological vs. business models and organizational structures. Despite differences in the manner in which innovation is pursued and applied, the application and impact of technological change benefit firm value, methods of production, and economic and societal advancement. The underlying driver of innovation is the expansion of the current stock of knowledge (Uppenberg 2009) raising productive capital and enhancing economic growth. This function becomes a sustainable economic driver when as part of a wider socio-eco
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