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RIS: WKF World Bank Session Discussion 1

RIS: WKF World Bank Session Discussion 1. Why are regions important for innovation of firms?. 1). Collaborations and inter-firm networks are important for innovation of firms. 2). Innovation is an interactive process and shaped by a variety of institutional routines and social conventions.

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RIS: WKF World Bank Session Discussion 1

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  1. RIS: WKF World Bank Session Discussion 1 Why are regions important for innovation of firms? 1) Collaborations and inter-firm networks are important for innovation of firms. 2) Innovation is an interactive process and shaped by a variety of institutional routines and social conventions. 3) Regional clustering and specialization are important for innovation. "Learning regions" display intensive inter-firm interaction, shared know-how, spillover expertise, and strong firm support systems. In the RICs, organization in terms of inter-firm networks and collaboration, learning dynamics with interactive processes, and territorial dimension with regional clustering are regarded as three important dimensions.

  2. RIS: WKF World Bank Session Discussion 2 • Global Networks of Innovation Lock-in effects in the too strong and closed local networks The RICs have networks with other innovation clusters through flows of information, knowledge, technology, capital, products, and services in all spatial dimensions of regional, national, and global. Networks with global innovation centers or original innovation centers are sometimes regarded more important than networks with other national innovation centers. Extending the competition and cooperative networks from local to global suggest the progress of spatial innovation systems from regional, to national, and to global.

  3. RIS: WKF World Bank Session Discussion 3 • Six Basic Supporting Sectors for Learning Regions and Innovation Clusters 1) Agglomeration of production activities and inter-firm networks of production 2) Advanced services for supporting production and business activities 3) Supply of high quality manpower 4) University and R&D institutions 5) Collective learning process 6) Provision of Supporting infrastructure

  4. RIS: WKF World Bank Session Discussion 4 The six basic supporting sectors can be regarded as a core sectors for successful development of RIC. It should be noted that the six sectors are not independent each other, but interrelated with each other. Ex) University and R&D center: -> Supply of quality manpower and training -> Supply of advanced services (consulting) -> Sources of collective learning

  5. innovative entrepreneur firm university research institution finance & venture capital professional consulting service business supporting service Learning City strong network weak network RIS: WKF World Bank Session Discussion 5 <Figure 5> Spatial Innovation Networks of Gangnam, Seoul firm & entrepreneur university & research institution supporting sector Gangnam Seoul Korea Overseas innovation cluster

  6. Venture Habitat University R&D Institution Local/Global Networks Innovation Networks Rules of Games Collective Learning Venture Capital Professional Services Local Cluster Social Capital Entrepreneurs Spin-offs Business Climate Living Environment RIS: WKF World Bank Session Discussion 6 Local Innovation Strategies

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