WHAT CONSTITUTES A SUCCESSFUL ECOSYSTEM OF INNOVATION? Jerry Haar Professor, Florida International University Global Fellow, Woodrow Wilson International.

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Presentation transcript:

WHAT CONSTITUTES A SUCCESSFUL ECOSYSTEM OF INNOVATION? Jerry Haar Professor, Florida International University Global Fellow, Woodrow Wilson International Center for Scholars Research Fellow and Adjunct Professor, Georgetown University Fostering Innovation Ecosystems in Latin America Latin American Program, Woodrow Wilson Center June 2, 2016

WHAT ARE THE KEY INGREDIENTS FOR A SUCCESSFUL ECOSYSTEM OF INNOVATION? 1.Large pool of skilled talent 2.An installed and diffuse technological base (e.g., broadband networks) 3.Dedicated infrastructure of research universities, labs and entrepreneurship instruction 3.Ample funding (angel investment, venture capital, convertible debt, microfinance, crowdfunding 4.Networks and collaboration among financiers, entrepreneurs, scientists, technologists, designers 5.An environment that nurtures, supports and sustains creativity 6.Mechanisms for the fast transfer of knowledge 7.Strong intellectual property laws and surety of enforcement 8.Pro-market economic, tax and regulatory policies 9.Well-functioning administrative, legal and judicial systems 10.Federal, state and local industrial policies—especially those targeted at “clusters”

COMMUNITIES OF INNOVATION 3 Source: Center for Ethics and Entrepreneurship BUSINESS ACADEMEGOVERNMENT

INNOVATION THE CREATION OF BETTER OF OR MORE EFFECTIVE PRODUCTS, PROCESSES, SERVICES, TECHNOLOGIES OR IDEAS THAT ARE READILY AVAILABLE TO MARKETS  PRODUCT INNOVATION  PROCESS INNOVATION  SERVICE INNOVATION  BUSINESS MODEL INNOVATION …AND STILL OTHERS  Packaging/price innovation  Social media innovation  Distribution innovation  Advertising innovation  Sustainable innovation  Digital innovation  Disruptive innovation

The Entrepreneurship & Innovation Policy Map Source: H. Kantis, Aportes para el diseño de políticas integrales de desarrollo emprendedor en América Latina, Washington, D.C.: Banco Interamericano de Desarrollo, 2010.