Innovation Systems and Clusters in the Asymmetric Knowledge Economy. In Breschi, S.,Malerba, F. eds..
H200627 21-12-2006 Motivation Based Policies for an Entrepreneurial EU Economy H200626 19-12-2006 Export Orientation among New Ventures and Economic growth
in the whole economy. Future research should broaden the scope by studying open innovation in broader samples
Economy). ) Statistics Netherlands, Voorburg, The netherlands Teece, D.,1986. Proï ting from technological innovation: Implications for
in the whole economy. Future research should broaden the scope by studying open innovation in broader samples
Economy). ) Statistics Netherlands, Voorburg, The netherlands Teece, D.,1986. Proï ting from technological innovation: Implications for
ï The Creative Economy: challenges and opportunities for the DC-regions, Isabelle De Voldere, Eva Janssens, Jonas Onkelinx and Leo Sleuwaegen, April 2006, Published in English
the relevance of the experience economy for innovating SMES...22 2. 4. Different ways SMES can create value...
experience economy as one way to create value. Besides value creation, we also examine how small
economy for innovating SMES New offerings can create value for customers in different ways. A company might increase the
In today†s service economy many SMES wrap additional services around their products to increase customer value in exchange
established markets where scale and scope economies become the dominant driver to gain and sustain competitive advantages.
First, SMES create the majority of the jobs in these industries in Western economies Moreover, globalization and commoditization threaten many jobs
Pine, B. G. and Gilmore, J. H. 2011), The experience economy, Harvard Business Review Press, Boston
Pine, B. G. and Gilmore, J. H. 1998), Welcome to the experience economy, Harvard Business Review
economy bubble, or in the top list of companies offer -ing IT-related services on a global scale.
in productivity in the European economy since the mid-1990s and the opening of a wide productivity
in rates of growth between the two economies. It should be noted that the wider definition of ICT is
-ket services sector of the economy in the first half of the 2000s. Conversely, the productivity
whose impact on the economy is pervasive, trans -versal, and deep (Bresnahan and Trajtenberg, 1995
But why did the US economy adopt ICT earlier and more productively, first in the manufacturing
External economies and economic progress The case of microcomputer industry. Business History Review 66, 1†50
economy. Structural Change and Economic Dynamics, 11 (4 473†489 Timmer, M P and B van Ark 2005.
Asian economies. For example, while the US are home to companies such as Google, Microsoft and Ama
size that does still not make much difference from a regional or national economy point of view
or economy outside the governmentâ€. 13 Policies include, but are limited not to, taxation, regulation, expendi
One with OECD economist Jonathan Potter one with US venture capital and innovation policy advisor Burton Lee,
economies (Germany, France, UK, Poland) are missing and no Asian country is included Exhibit 3-1: Share of high-growth enterprises (employment definition) in%of enterprises with ten or more
A study by the Finnish Ministry of the Economy published in 2011 found that in the period 2006-2009,691
A Kauffmann Institute study of the US economy in 2010 with data for 2007 contained 5. 5 million firms.
Several studies by the Finnish economist Erkko Autio published in 2007 substantiated the importance of a
-icy for promoting technological entrepreneurship can contribute to the vitalisation of the national economy through the generation of new jobs and innovationâ€. 48
and implementation in order for economies to take full advantage of their entrepreneurial potentialâ€. 54 The study
At the beginning of 2008 the innovation department of the Ministry of Employment and the Economy estab -lished a division for growth ventures.
-nies but also of national economies: â€oeventure capital injects economic dynamism: An increase in VC invest
Some economists take the opinion that â€oeonly the market can determine what the optimal amount of entrepreneurship is.
This position is supported by US economist Scott Shane: â€oegetting economic growth and jobs creation from entrepreneurs is not a numbers game.
terms of population, economy and †the prime criterion here †SME policies ï South korea, with a population of close to 50 million, has emerged as a primary competitor of
and the Korean economy at large. SMBA applies more than 100 SME promotion measures Recently there have been noticeable changes in Korean SME policies.
transformed the country from being poverty-stricken into the world†s 15th largest economy. Now Korea is in a
The new focus is on the promotion of â€oeglobal Star SMES€ as the backbone of the economy.
economy dramatically in the coming years. Introducing a related law (Mid-sized Enterprise Promotion Act
This case study has been conducted by Yoo Soo Hong, Director of the Institute for Global Innovation Economy (IGIE
/ï Singapore Budget 2010-Towards An Advanced Economy: Superior skills, Quality Jobs, Higher Incomes <http://www. mof. gov. sg/budget 2010/download/FY2010 FLYERS FOR BUSINESSES. pdf
-omy-The Impact of Venture capital on the Canadian Economy. Available at http://www. cvca. ca/files/Downloads/CVCA VC IMPACT STUDY JAN 2009 FINAL ENGLISH. pdf 2010 October
The Economic Importance of Venture capital Backed Companies to the U s. Economy, 2008 June at http://www. asiaing. com/venture-impact-the-economic-importance-of-venture-capital-backed
economy. The new concept guiding SME policies became to â€oedevelop and support a wide range of inde
revised in July 2010, specifically identifying SMES as one of the main drivers of the economy.
economy revitalisation. Third, the government will create platforms for growth in the areas of science, tech
Ministry of Economy, Trade and Industry (www. meti. go. jp ï White paper on Small and Medium Enterprises in Japan:
Ministry of Economy, Trade and Industry (www. meti. go. jp)( p40 †70 in 2009wp
branch of the Institut der deutschen Wirtschaft (IW, Institute for the German Economy. 164 The IW Future
trends and challenges of structural changes of the economy. The surveys include companies participating in
tribute the bulk of new jobs in a national economy, it would be a waste of resources to foster specifically
Economists suggest that policy should not principally favour SMES. Which type of enterprise generates most innovations and growth de
importance of high-growth SMES for employment in developed national economies, it appears to be worth
of Education and the Ministry of Employment and the Economy: Evaluation of the Finnish National In
Ministry of Employment and the Economy (2011: Growth Enterprise Review 2011. Finnish: Kasvuyrityskat -saus 2011.
High-growth firms and the future of the American economy. Kauffman Foundation Research Series: Firm Formation and Economic growth.
Ministry of Employment and the Economy of Finland, http://www. tem. fi/?/l=en&s=2383, last accessed May
Jonathan Potter, OECD, Senior Economist, Local Economic and Employment Development. 1 june 2010 Burton Lee, Innovarium Ventures, 17 august 2010
by the Ministry of Employment and the Economy http://www. yrityssuom i. fi ***Vigo by Finnish Minis
and Economy â€oethe programme bridges the gap between early stage technology firms and international venture funding.
that have a disproportionately higher impact on the metro area economy. †East asia China Zhongguancun
Asian economies. For example, while the US are home to companies such as Google, Microsoft and Ama
size that does still not make much difference from a regional or national economy point of view
or economy outside the governmentâ€. 13 Policies include, but are limited not to, taxation, regulation, expendi
One with OECD economist Jonathan Potter one with US venture capital and innovation policy advisor Burton Lee,
economies (Germany, France, UK, Poland) are missing and no Asian country is included Exhibit 3-1: Share of high-growth enterprises (employment definition) in%of enterprises with ten or more
A study by the Finnish Ministry of the Economy published in 2011 found that in the period 2006-2009,691
A Kauffmann Institute study of the US economy in 2010 with data for 2007 contained 5. 5 million firms.
Several studies by the Finnish economist Erkko Autio published in 2007 substantiated the importance of a
-icy for promoting technological entrepreneurship can contribute to the vitalisation of the national economy through the generation of new jobs and innovationâ€. 48
and implementation in order for economies to take full advantage of their entrepreneurial potentialâ€. 54 The study
At the beginning of 2008 the innovation department of the Ministry of Employment and the Economy estab -lished a division for growth ventures.
-nies but also of national economies: â€oeventure capital injects economic dynamism: An increase in VC invest
Some economists take the opinion that â€oeonly the market can determine what the optimal amount of entrepreneurship is.
This position is supported by US economist Scott Shane: â€oegetting economic growth and jobs creation from entrepreneurs is not a numbers game.
terms of population, economy and †the prime criterion here †SME policies ï South korea, with a population of close to 50 million, has emerged as a primary competitor of
and the Korean economy at large. SMBA applies more than 100 SME promotion measures Recently there have been noticeable changes in Korean SME policies.
transformed the country from being poverty-stricken into the world†s 15th largest economy. Now Korea is in a
The new focus is on the promotion of â€oeglobal Star SMES€ as the backbone of the economy.
economy dramatically in the coming years. Introducing a related law (Mid-sized Enterprise Promotion Act
This case study has been conducted by Yoo Soo Hong, Director of the Institute for Global Innovation Economy (IGIE
/ï Singapore Budget 2010-Towards An Advanced Economy: Superior skills, Quality Jobs, Higher Incomes <http://www. mof. gov. sg/budget 2010/download/FY2010 FLYERS FOR BUSINESSES. pdf
-omy-The Impact of Venture capital on the Canadian Economy. Available at http://www. cvca. ca/files/Downloads/CVCA VC IMPACT STUDY JAN 2009 FINAL ENGLISH. pdf 2010 October
The Economic Importance of Venture capital Backed Companies to the U s. Economy, 2008 June at http://www. asiaing. com/venture-impact-the-economic-importance-of-venture-capital-backed
economy. The new concept guiding SME policies became to â€oedevelop and support a wide range of inde
revised in July 2010, specifically identifying SMES as one of the main drivers of the economy.
economy revitalisation. Third, the government will create platforms for growth in the areas of science, tech
Ministry of Economy, Trade and Industry (www. meti. go. jp ï White paper on Small and Medium Enterprises in Japan:
Ministry of Economy, Trade and Industry (www. meti. go. jp)( p40 †70 in 2009wp
branch of the Institut der deutschen Wirtschaft (IW, Institute for the German Economy. 164 The IW Future
trends and challenges of structural changes of the economy. The surveys include companies participating in
tribute the bulk of new jobs in a national economy, it would be a waste of resources to foster specifically
Economists suggest that policy should not principally favour SMES. Which type of enterprise generates most innovations and growth de
importance of high-growth SMES for employment in developed national economies, it appears to be worth
of Education and the Ministry of Employment and the Economy: Evaluation of the Finnish National In
Ministry of Employment and the Economy (2011: Growth Enterprise Review 2011. Finnish: Kasvuyrityskat -saus 2011.
High-growth firms and the future of the American economy. Kauffman Foundation Research Series: Firm Formation and Economic growth.
Ministry of Employment and the Economy of Finland, http://www. tem. fi/?/l=en&s=2383, last accessed May
Jonathan Potter, OECD, Senior Economist, Local Economic and Employment Development. 1 june 2010 Burton Lee, Innovarium Ventures, 17 august 2010
by the Ministry of Employment and the Economy http://www. yrityssuom i. fi ***Vigo by Finnish Minis
and Economy â€oethe programme bridges the gap between early stage technology firms and international venture funding.
that have a disproportionately higher impact on the metro area economy. †East asia China Zhongguancun
part of projects having an impact on the regional economy. However, such use could be more widespread and systematic.
and achieve economies of scale, which may imply the pooling of digitisation efforts by cultural institutions and
which may bring about economies of scale e) ensuring the use of common digitisation standards defined by Europeana in
the priorities set by the Government Strategy, †Building Ireland†s Smart Economy †A Framework for Sustainable
Waterford Knowledge Campus has the potential to be a significant element in driving the knowledge economy
regional economy and a range of policies is included to support their development. Retailing is a major con
-tributor to the regional economy and is a significant factor in achieving the vitality and viability of town and
knowledge economy. The Regional Authority has been involved in the roll out of broadband infrastructure and Section 6 sets out policies to support the provision of telecommunications infrastructure,
1. To develop the Smart Economy 2. To improve transport infrastructure and services 3. To deliver first class energy and communications
and †Building Ireland†s Smart Economy †A Frame -work for Sustainable Economic Renewal. â€
of social and economic policies as well as a productive and competitive economy and the availability of rewarding
investment in the rural economy •Invest in long-term environmental sustainability to achieve our national goal of preserving the
1. 4. 2 Economy At September 2009,202, 500 people were employed in the region (Q3nhs, Jul-Sept 2009.
strong growth in employment over the 10 years up to 2007, the downturn since then in the economy has resulted
Public policies and investments, the performance of the economy and national, regional and local planning
infrastructure (until recently one of the highest in Europe relative to the size of the economy, expenditure be
The regional economy of the Southeast is based primarily on agriculture, manufacturing and services, tour -ism, fishing and aquaculture.
the success of the regional economy 2. 2. 3 Agriculture, Rural Development and the Marine
The Regional Authority has stated previously its objective to maintain the rural economy which is vital to the
as a base for strong and diversified rural economies. Efficient agricultural, marine and natural resource sectors
of off-farm employment, will be the mainstays of a strong rural economy. However, the mix and concentra
Fishing Ports are an important part of the economy along the Southeast coast, with Duncannon, Kilmore
the emergence of the knowledge economy in the region. The absence of a University in the Southeast Region
9. Potential for development of the Green Economy and renewable energies 10. Potential for sustainable development of heritage
9. Potential for development of the Green Economy and renewable energies 10. Potential for sustainable development of heritage
•Providing for world class higher education, research and development and links to the knowledge economy •Tackling inequality, educational disadvantage and social deprivation by providing improved public services and
A3 Promotion of the Knowledge Economy through increasing high-level research and development in the Higher and Further Education Institutes and developing industry †academic co-operation and links
D5 Development of the Green Economy in rural areas; actively promoting the exploitation of wind energy and
This campus will accommodate the knowledge economy by linking academia with entrepreneurship and foreign direct investment.
-tween supporting a well-diversified rural economy and the protection of the environmental assets that attract
which has impacted negatively on the regional economy The Regional Authority, together with public and private agencies in the region, is determined to address the
economic strategy will be sustained by a renewed emphasis on the knowledge economy, high level research enhanced access by road, rail, the Regional Airport and region†s ports at Rosslare, Waterford and New Ross
†Building Ireland†s Smart Economy †A Framework for Sustainable Economic Renewal†sets out five priorities
1. Securing the Enterprise Economy and Restoring Competitiveness 2. Building the Ideas Economy †Creating †The Innovation Islandâ€
3. Enhancing the Environment and Securing Energy Supplies; Increasing the production and use of renewable
regional economy, some of which are supported by City/County Enterprise Boards Overseas industry is concentrated mainly in electronics and precision engineering, pharmaceuticals and
above in the Government Strategy †Building Ireland†s Smart Economy †A Framework for Sustainable Eco
the knowledge economy in the region, offering a cluster for academia business and entrepreneurship •Strong cities and towns are needed to support a competitive business environment,
Pharmaceuticals, the Green Economy and Renewable Energy. The Southeast Region has a growing number of
support the regional economy and sustainable economic development To increase access to education, training and lifelong learning possibilities to enhance social integration and
and would enable the rural economy to be more ro -bust and less sensitive to changes in outside markets.
economy and tourist sectors There is a significant opportunity for planning authorities, the Department of Communications, Energy and
Building the knowledge economy is a long-term investment. It is imperative that the region is positioned to take
knowledge driven competitive advantage across all sectors of the economy 4 Advice to the Minister for Education & Science on the application by Waterford Institute of technology for designation as a
the Knowledge Economy in the Southeast Region and the Regional Authority supports the following strategic objectives
Ireland†s emphasis on the knowledge economy is a key target of future eco -nomic development.
The role of tourism in the development of the economy of the Southeast has very significant potential.
Manufacturing continues to make an important contribution within the economy of the Southeast and rep
with the priorities of the Government Strategy †Building Ireland†s Smart Economy †A Framework for Sus
apply to each sector of the economy and to the Regional Competitiveness Agenda developed by Forfã¡
types of enterprise sectors and the significant potential of tourism to contribute to the rural economy
The significant role of tourism in the regional economy is recognised and its future development requires
Public policies and investments, the performance of the economy, and national, regional and local planning policies have changed over the last six years since the adoption of the Regional Planning
capital infrastructure (until recently one of the highest in Europe relative to the size of the economy
-tant base for the knowledge economy PPO 7. 5 The Regional Authority supports the development of improved public library services
Services, are recognised increasingly as essential resources that sustain our economy, society and individual well being.
contribute to the rural economy and, importantly, further contribute to the social and community infrastructure in
1. TO DEVELOP THE SMART ECONOMY A. Developing the innovation potential in the region though development of a University of the Southeast by
Public policies and investments, the performance of the economy, and national, regional and local planning policies have changed over the last six years since the adoption of the Regional Planning
capital infrastructure (until recently one of the highest in Europe relative to the size of the economy
transforming economy. This report provides an inspiring, ambitious and very necessary part of the answer. It shows
This holds for companies, for regions, for national economies and even more so for the European union as a
concerning the transformation of Europe towards a knowledge-based and future-oriented economy Andreas Pyka, Professor in Innovation Economics, University of Stuttgart-Hohenheim;
The third sector is acknowledged as a stakeholder in the European economy, on an equal footing with business and public administration.
changes in society and the economy. For citizens, this means unleashing the potential of a broad range of ideas
policies, with fast developments in emerging economies such as China and Brazil. This presents new opportunities
most competitive global knowledge economy and is not investing eff ectively or appropriately in the infrastructure
older people in our societies and economies X Future of the young Countries as diverse as Spain, Sweden and Ireland all face
destruction†to borrow a phrase from the economist Schumpeter. We need creative destruction, which means
2 The Social Economy in the European union: Summary of the Report drawn up for the European Economic and Social
Committee by the International Centre of Research and Information on the Public, Social and Cooperative Economy (CIRIEC
for the green economy, for large-scale renewable energy generation, for mass electric transport, for zero emission
low carbon economy The EU has a Technology Platform and R&d on smart grids, but no clear policy
invention/research processes and related exchanges, yet the intellectual property economy still is stifl ed by an opaque and asymmetric functioning †with correspondingly very signifi cant lost
opportunities and value for Europe in the increasingly critical knowledge economy: -dominance of large actors, unequal access to information, secrecy of price formation†all of which result in
In the new knowledge-dominated economy, research and its commercialisation are global by nature †so is the scale of resources needed to successfully deploy the vision outlined here
economy and society. The Panel has worked with the notion that innovation will create a new future,
of the economist Schumpeter, which views innovation as essential to economic and societal transformations over periods of
changes in economies. Indeed, economics generally tackles issues of technology, labour and growth in relation to an explanation of
The Economist started a new †Schumpeter†column in Fall 2009, in recognition that business
creative destruction†(The Economist 2009 In Capitalism, Socialism and Democracy Schumpeter states â€oethe fundamental impulse that sets and keeps
the economy keeps changing, and thereby creating new futures. Nelson (1996: 87) argues that this is â€oeschumpeter†s most consistent and
and economies can take a narrow corridor for growth between bubble and stagnation, seen over historical time
importance to how the economy changes †especially after the fi nancial and industrial crises starting in 2008
continue to disrupt the economy, thereby sometimes fundamentally changing activities and moving the economy in new directions
One implication is that public policy must support the †change†processes. Fundamental transformation may lead to reactions, such
relevance to the economy. These can be new goods, a new quality of a good, new method
development and the economy as a whole†in Hanusch, H. and A. Pyka (2007. Elgar Companion
The Economist (2009. Schumpeter: Taking fl ight. Schumpeter Column September 17th, 2009 Edler, J. and L Georghioiu (2007.
Flexibility and Stability in the Innovating Economy. Oxford university Press Nelson, R. 1996. The Sources of Economic growth.
economy. This report provides an inspiring, ambitious and very necessary part of the answer. †Geoff Mulgan, Director, The Young Foundation
weaknesses, opportunities and threats of the Catalan economy taking into account the different sectors and technological capabilities.
that provide the structure for the activities that will enable the Catalan economy to successfully tackle the major social and economic challenges of the 21st century
sustainable economy that combines talent, creativity, a diversified business fabric and its own excellent research system within the framework of a dynamic, enterprising and
and to reorient the Catalan economy towards a growth model that is smarter, more sustainable and more inclusive
green economy ï§Non-technological innovation ï§Training and talent Tools Leading sectors Emerging activities Crosscutting enabling
-Analysis of the Catalan economy: strengths, weaknesses, opportunities and threats -Analysis of the leading sectors and capacities in crosscutting enabling technologies
The European economies face major challenges, in both the short and long terms. The immediate priority is a return to growth and job creation,
Figure 1. Global Challenges Facing the European Economies Budgetary consolidation and structural reforms are necessary conditions to ensure the
competitiveness of the European economies, but they are not sufficient. The European Union (EU) response to the major challenges posed takes the form of the Europe 2020
-carbon economy and competitive industry 1. Framework 12 Within this framework, Innovation Union, one of the seven flagship initiatives in the
European economies, focusing on the following thematic objectives 1. Strengthening research, technological development and innovation
4. Supporting the shift towards a low-carbon, low energy-intensive economy in all sectors
and low energy-intensive economy (thematic objectives 1, 2, 3 and 4), and at least 20%on Objective 4
-intensive economy in all sectors 5. To promote climate change adaptation and risk prevention and management
economy and reorienting the production sector towards a smarter, more sustainable and more inclusive economic model
economy Within the ECAT 2020 framework and based on a shared vision of the country towards the year 2020, RIS3CAT promotes
formed by representatives from the ministries of Economy and Knowledge and Business and Labour (see Section 4, Governance.
threats to the Catalan economy based on SWOT analyses carried out previously in Catalonia and on which there is broad agreement amongst stakeholders in the
economy and the analysis of its strengths, weaknesses, opportunities and threats (see the document â€oeanalysis of the Catalan economy:
strengths, weaknesses, opportunities and threatsâ€), the Catalan economy is diversified highly and open with a large industrial
base. Within a context of globalisation and recession, the Catalan production system is undergoing a process of structural change:
Analysis of the Catalan economy has led to the identification of three key vectors that will enable Catalonia to successfully tackle the great social and economic challenges of
3. The third vector is the firm commitment to transforming the Catalan economy towards a green economy.
In response to the global challenges caused by climate change, the impact of human activity and scarcity of natural resources, the green
economy offers promising niches for specialisation and generates opportunities to improve and enhance efficiency in all economic sectors
Figure 7. Vectors Driving the Transformation of the Catalan Economy The shared vision for the country towards 2020 takes into account all these elements
and sustainable economy that combines talent, creativity, a diversified business fabric and its own excellent research system within the
The three vectors that drive the transformation of the Catalan economy (industrial tradition, quality of life and the green economy) and the implementation of the seven
criteria listed below enables the identification of seven leading sectors in which Catalonia has competitive advantages, critical mass and future opportunities
economy ï§Non-technological innovation ï§Training and talent Tools Pillar 1 Pillar 2 Pillar 3 Pillar 4
-Efficient use of resources (green economy There follows a description of the general characteristics of each of these tools (T) and
P. 3. Eco-innovation (Innovation at the Service of the Green Economy Eco-innovation includes all innovations that reduce the use of natural resources and emissions of
the green economy -Social (sustainable practices and changes in people†s lifestyles contribute to social cohesion and
There are many different measures to promote the transition towards a green economy -Technical and financial support for research and development, pilot tests and dissemination and
-Support for ICT uses that benefit the green economy (smart electricity networks and transport systems
competitiveness of the Catalan economy P. 5. 1. Matching the Education system to the Needs of the Production System
economy, the media, the new technologies, higher studies, etc..For this reason, to improve the
Promotion, attached to the Ministry of Economy and Knowledge; the Directorate General for Research, also attached to the Ministry of Economy and Knowledge;
and the Secretariat for Business and Competitiveness (Ministry of Business and Labour 4. Governance 58
Based on the SWOT analysis of the Catalan economy, RIS3CAT defines four strategic objectives and four pillars of action that structure public policies aimed at advancing
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