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Innovation ecosystems are technological hubs created for development focused on Science, Technology, Engineering and Mathematics, with the encouragement and investment of universities, companies and the government. London, for example, has some hubs of great importance in this regard.
When a community of microorganisms unite in a living environment, sharing their characteristics and common interests – whether internal or external – the name given to this movement is ecosystem.
In the corporate world, when companies, universities and government come together to create a collaborative and innovative environment, where everyone works to make discoveries, grow together and share results in common, the name of this is innovation ecosystem.
The market, realizing this opportunity for institutions to be able to develop faster, immediately tried to create a type of correlation environment to exchange experiences and share the balance points raised at this junction.
With that, they managed generate engagement, thus creating a business trend. But in practice, what are innovation ecosystems? How important is it to the market? Learn more about this subject by following this post to the end!
What are innovation ecosystems?
Innovation ecosystems are companies that come together to create a learning environment where it is possible to facilitate the development of innovation.
It is the opportunity that entrepreneurs have to interact with professionals in their segment to find solutions to their market pains and create new products, services and projects that meet mercantilist needs.
For this, poles are created with collaborative spaces. These hubs bring together the entire infrastructure necessary to favor the environment of discovery, research and development. But for this to happen in a proactive way, it is necessary to create pillars to sustain this economic dynamic.
See, below, what these pillars are.
Education is the main pillar of an innovation ecosystem, but it is not an ordinary education like that which university students receive.
That knowledge needs to be focused on STEM, which is an acronym in English for Science, Technology, Engineering and Mathematics, the four areas of knowledge that are fundamental to innovation.
Public institutions and policies
Government participation in this environment is important to enable innovation to be comprehensive at the national level, as well as to raise investments for the maintenance of the entire process.
Entrepreneurs and SMEs
Creating a timely environment for small and medium-sized companies and entrepreneurs to develop is very significant for the country. After all, the strength of the economy comes from them.
Ease of interactions
Communication between companies, universities and the government needs to work with mastery, so that the information circulates and reaches those who need it to meet a demand.
Connections also need to go beyond this environment, which requires global access, being useful for those who need results but do not have the resources.
Brand and celebration
Knowing where a breakthrough discovery came from is crucial for innovation ecosystem centers. This will allow the origin to receive the due prominence and, thus, strengthen your brand.
This ecosystem is often marked by its authority and credibility with respect to that problem it solved. As for the celebration, it happens due to the success of the entrepreneurs who invested in that ecosystem. Therefore, they will have their investments returned to the company’s cash.
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Why create technology parks?
The Technology parks are physical spaces suitable for the development of products, where students have the opportunity to learn and improve their talents.
Companies can invest in these products and later sell them, while the government’s mission is to make the results accessible to entrepreneurs across the country.
In these parks, the largest technological activities in the country are concentrated, which drives it into the future and provides the necessary support for companies to develop financially and retain a rich human capital.
What are the main poles of innovation ecosystem in London?
It is in these centers that the country’s main technological innovation centers are concentrated:
- São José dos Campos: ITA;
- Porto Alegre: TecnoPuc;
- Belo Horizonte: San Pedro Valley;
- Florianópolis: Capital of Innovation;
- Santa Rita do Sapucaí: Electronics Valley;
- Campinas: UNICAMP Foundation;
- Recife: Porto Digital;
- São José dos Campos: Technology Park.
What are the advantages of creating an innovation ecosystem?
The exchange of experiences provides those involved with a way to get ahead of their competitors, who will have to learn everything on their own.
Many challenges permeate such an environment, which enriches the exchange. A lot of mistakes are made and errors will guide even effective innovation.
Be recognized by the community
Working for this recognition draws the attention of the life that is happening around, which includes students with great potential and companies that want and need pieces of innovation that make them stand out in the market.
Being in such a pole is a privilege, because maturation is constant for students who have already left there highly qualified.
Be part of a referral network
Knowing a company up close, its methodology and how it works provides seriousness and authenticity when it comes to recommending it. It is a win-win environment for everyone involved, which makes work more effective at each stage.
Attracting student interest
Innovation ecosystems are true centers for recruiting talents who want to learn and test their hypotheses. Therefore, companies participating in this cycle need to take care to attract these students.
As you can see, an innovation ecosystem has the mission of making companies grow in a collaborative environment, the cities where the hubs are installed gain visibility and create jobs and the government takes advantage of the products and services made available for the economy to be active.
However, digital transformation is essential to welcome the innovations to come, since, with the globalized world, information tends to reach the market faster and faster. This requires an appropriate marketing plan to convey the information in the right way, so that it has the greatest possible reach.
To better understand how this process is built, download our Digital Transformation ebook and learn how to implement it in your company.