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.
Talent is comprised of the individuals within which all the skills and knowledge are stored.
- Tacit knowledge & skills
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
Access to financial capital is essential to bringing innovations to market.
Research, unsecured loans, proof of concept funding, & challenges
Government commercialization funding Angel funding
Early stage funding
Large stage funding
The physical infrastructure provides the environment where business and interactions between individuals take place and the tools to support the talent within the ecosystem.
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
Social code of conduct
Core and emerging industry clusters