INNOVATION ECOSYSTEM

This report examines the state of our current innovation ecosystem based on the following five components of a healthy innovation ecosystem. Together they serve as a platform to empower human capital to commercialize innovation.

 Model is based on the  World Bank's Innovation Framework

Model is based on the World Bank's Innovation Framework

 
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TALENT

Talent is comprised of the individuals within which all the skills and knowledge are stored. 

  • Tacit knowledge & skills 
  • Education

NETWORK

The network is the invisible web of social ties between individuals, companies, and institutions. It is the conduit through which knowledge and know-how flow through the ecosystem.

  • Informal & formal networks
  • Strong ties 
  • Weak ties

CAPITAL

Access to financial capital is essential to bringing innovations to market.

  • Research, unsecured loans, proof of concept funding, & challenges

  • Government commercialization funding Angel funding

  • Seed capital

  • Early stage funding

  • Large stage funding 

PHYSICAL ENVIRONMENT

The physical infrastructure provides the environment where business and interactions between individuals take place and the tools to support the talent within the ecosystem. 

  • Urban design

  • Architecture

  • Public realm

  • Utilities

ENABLING ENVIRONMENT

The enabling environment is the legal and cultural environment that regulate activities, inspire the talent to bring their innovations to market, and facilitates connections throughout the ecosystem. 

  • Laws & government polices

  • Level of trust

  • Common purpose

  • Expectations

  • Social code of conduct

  • Core and emerging industry clusters