Local innovation system
Encyclopedia
A Local innovation system
is a spatial concentration of firms (including specialized suppliers of equipment and services and customers) and associated non-market institutions (universities, research institutes, training institutions, standard-setting bodies, local trade associations, regulatory agencies, technology transfer agencies, business associations, relevant government agencies and departments, et al.) that combine to create new products and/or services in specific lines of business.
A growing body of evidence suggests that there is something distinctive and systemic about innovation as a localized phenomenon, in which physical proximity, repeated transactions, and shared history and outlook combine to produce outcomes which cannot be predicted by the more familiar national innovation systems framework.
Innovation system
The concept of the innovation system stresses that the flow of technology and information among people, enterprises and institutions is key to an innovative process...
is a spatial concentration of firms (including specialized suppliers of equipment and services and customers) and associated non-market institutions (universities, research institutes, training institutions, standard-setting bodies, local trade associations, regulatory agencies, technology transfer agencies, business associations, relevant government agencies and departments, et al.) that combine to create new products and/or services in specific lines of business.
A growing body of evidence suggests that there is something distinctive and systemic about innovation as a localized phenomenon, in which physical proximity, repeated transactions, and shared history and outlook combine to produce outcomes which cannot be predicted by the more familiar national innovation systems framework.