Innogen · News · May 25, 2013

PRESS RELEASE: Innovation Generation - EU success depends on smart, sustainable and robust innovation

Successful economic growth in the European Union depends largely on its member states’ ability to implement smart, sustainable and robust innovation strategies, and researchers at the Innogen Institute have developed a new framework to ensure this happens.

Successful economic growth in the European Union depends largely on its member states’ ability to implement smart, sustainable and robust innovation strategies, and researchers at the Innogen Institute have developed a new framework to ensure this happens.

Achieving and maintaining an innovative economy is difficult for regions globally, but there is a sense that Europe is facing greater challenges in some areas than its competitors (e.g. the United States and China). European industry leaders and governments are struggling to find ways to create and maintain environments that encourage regional innovation. In research published today in The World Financial Review, researchers from the Innogen Institute at the University of Edinburgh have put forward a new framework to improve the long-term efficiency and success of regional innovation policies.

Entrepreneurialism thrives best in environments where complementary institutions and organisations provide: on the supply side, education and training, finance, a labour market, and supportive rules related to firm creation; and on the demand side, methods of procurement and efficient channels of distribution and uptake. However, private entrepreneurs alone will not be able to fulfil innovation objectives; the public sector will be partially responsible for creating this innovation environment.
Innogen’s framework can be used to visualise how to build a robust innovation ecosystem that is resilient in the face of future economic upheaval. This is done through a process that:

  • Gathers data to determine the areas with the most social challenges and opportunities for entrepreneurial action by an independent enterprise
  • Maps the region’s strengths and identifies potentially profitable value chains;
  • Identifies the needs and bottlenecks of innovative business models and value chains in the regional value system and determines policy guidelines that can help adequately adjust a value system’s functions to meet innovations’ needs;
  • Assesses the impact of the proposed policy suite on the sectoral value chain and determines future gaps where revisions may be needed; and
  • Once the resulting policy suite is launched, monitors and evaluates the impact to make necessary modifications to adapt to changing technologies, unexpected policy opportunities/constraints, and/or unexpected stakeholder behaviours.

Dr Michele Mastroeni, Research Fellow at the Innogen Institute, developed the research in tandem with Professor Joyce Tait and Dr Alessandro Rosiello.

Dr Mastroeni said: “Our research is an important step forward in providing clear and effective guidance for EU policy makers. Our combination of approaches will lead to enhanced policy opportunities to promote regional innovation and to be more responsive and adaptive to novel policy and innovation opportunities, based on a better evidence base than is currently the case.”

The paper, 'Regional Innovation: how to be smart, sustainable and robust' is published on The World Financial Review website: www.worldfinancialreview.com/?p=3240

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For further information about this press release or for interview requests, please contact:

Elisabeth Barlow, Communications and Policy Officer, Innogen Institute

elisabeth.barlow@ed.ac.uk / Tel: 0131 650 2842 / Mob: 07837 900 613

Notes to editor:

  • The Innogen Institute is a dynamic collaboration between the University of Edinburgh and the Open University that is renowned for world-leading research with global impact on the social and economic aspects of the life sciences and emerging technologies. In areas such as food and energy security, global health and development, and innovation systems, Innogen offers in-depth, rigorous research and impartial, evidence based advice to public and private stakeholders.
  • Dr Michele Mastroeni is a Research Fellow at the Innogen Institute, University of Edinburgh. He has studied and advised on innovation processes and systems during the course of his research and as a former Senior Policy Advisor for the Government of Ontario. He has a PhD in Political Science from the University of Toronto.
  • Professor Joyce Tait is a Professor at the University of Edinburgh and Scientific Advisor for the Innogen Institute. She has an interdisciplinary background in natural and social sciences including risk assessment and regulation, policy analysis, technology management, strategic and operational decision making in companies and public bodies. She regularly provides advice and consultation to public sector and industry stakeholders in the UK and Europe.
  • Dr Alessandro Rosiello is a Research Fellow at the Innogen Institute, University of Edinburgh. His current research interests include industrial organisation, industrial clusters in the domain of the life sciences and other high tech industries, entrepreneurship and small business finance, economic of innovation and regional policy.