1. Inno|Praxis International Ltd.. Creating world innovation centres Skolkovo Summit of Innovation Economy Creators Mervi Käki

2. Finland

3. Innovative Idea: Including idea on how to improve efficiency of company management, marketing, how to utilize new technology, about new product or service for the market or society. Invention: New technology, new process, new approach. Innovation: Commercially utilized idea resulting into creation of new successful company or improved competitiveness of existing company. Socially utilized idea resulting into increased well- being, quality of life or better business environment.

4. National Academy Universities Polytechnics Research Institutes Funding Agency EU Funds Business Angels VCs EU Authorities Ministries Municipalities High-tech Companies Traditional Industry Companies STPs Business Incubators Industrial Parks National Patents & Registrations Bureaus Invention Associations Regional development centers Invest-In Organizations FDI Organizations Key Stakeholders in the Inno System

5. INTERACTION between people, companies, universities, research and region INTERACTION between people, companies, universities, research and region ideas Products, processes, services Inno System

6. Business incubators Business incubators Regional or cluster development programs Regional or cluster development programs Support of growing companies Support of growing companies 1 – Innovation System Potential – Analysing 1 – Innovation System Potential – Analysing Legislation R&D Funding models Publicsupport 5-8 years 3-5 years on-going STP infrastructure & services STP infrastructure & services Education Innovation System Development 2 – Willingness to Utilise & Develop Potential – Joint Vision & Promotion 2 – Willingness to Utilise & Develop Potential – Joint Vision & Promotion

7. Growth Proccess. Innovation Ecosystem. Financing Home for development 100% Public 95% Public 100% Public 80% Public 40-60% Public 20% Public R&D Funding Invention Foundation Uni Inno Centres Corporate Inno Mgt Business Incubator Science & Technology Park

8. Short-term Approach Academia Authority STP and Business Incubation Team Companies Short-Term Vision: STPs & Business Incubators as Public Service, making establishing and developing of SMEs easier

9. Short-term Approach STP & Business Incubation Team Companies Academia Authorities Long-Term Vision: STPs & Business Incubators as developers of business friendly environment jointly with academia & authorities

10. Long-Term Vision

11. Users Driven Innovation Model Markets Society Users Customers Education Science Fundament al Research Applied Research Companies ideas Joint Develop. Work Products Services

12. Science & Education Applied Research R&D for Business Business Development 4% of innovative ideas generated by science Commercialization takes up to 10 years Business (relations to partners, customers, market demand) 96% of ideas in Europe comes From business and can be commercialized in 2 years

13. Basic Research Applied Research R&D for Business Business development Marketing Internationalization Scientific Technological Programs Sectors of Basic Research Sectors of Applied Research Funds? VC? Export Promotions STPs? Industrial Zones Transitional Economies

14. Public and private Venture Capitalists Private Sector Fundamental Science Applied Research Business R&D Business Development Marketing Internationalization Companies themselves State Min of Education, Academy of Science Grants of Ministry of Education, Other specialized Ministries Fund of Science Local and foreign Private investors Banks Transitional Economies