Innovation and Entrepreneurial Ecosystems

Ianioglo, Alina

doi:10.5772/intechopen.102344

Cited by 6 publications

(6 citation statements)

References 33 publications

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“…Participants in an innovation ecosystem are interconnected and evolve together. All actors in an innovation ecosystem play a role in co-creating the ecosystem's value, which would be challenging for a single firm to achieve alone (Ianioglo, 2021). Understanding the complex relationships between these components is essential for planning effective innovation strategies and maximizing the potential of innovation ecosystems.…”

Section: Discussionmentioning

confidence: 99%

Understanding Innovation Ecosystems

Sotirofski

2024

Int. Jour. Res. Dev

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In today’s changing and globalized world innovation ecosystems have become drivers of economic growth and competitive advantage. These ecosystems facilitate collaboration, knowledge sharing and technological advancements, among businesses. Scholars and practitioners have increasingly focused on understanding the concept of innovation ecosystems as they play a role in the survival and growth of firms in the technology driven economy. Companies rely on product innovation to access markets and opportunities leading them to prioritize searches for innovative ideas. To create value in business landscape, industries are now emphasizing the importance of fostering ecosystems that promote collaboration among companies. This literature review aims to synthesize existing research on the innovation ecosystems with a focus on open innovation and value creation. By examining frameworks, empirical studies, and practical insights this article offers a comprehensive overview of the mechanisms, challenges and opportunities that shape these ecosystems. It also highlights the roles played by networks, regulatory frameworks and organizational capabilities in driving innovation led growth and sustainable development, within dynamic and interconnected innovation ecosystems. Received: 19 February 2024 / Accepted: 15 March 2024 / Published: 23 March 2024

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Section: Discussionmentioning

confidence: 99%

Understanding Innovation Ecosystems

Sotirofski

2024

Int. Jour. Res. Dev

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“…The adoption of artificial intelligence (AI) by businesses is growing but still not fully widespread. Specifically, only about 3.8% of businesses reported using AI to produce goods and services [3]. However, this usage varied widely among different sectors, with the Information sector reporting higher levels of AI use at 13.8%.…”

Section: Fig1 Common Ecosystem Components [1]mentioning

confidence: 99%

The Role of Startups in Creating Innovative Ecosystems

Peniaz

2024

Věda a perspektivy

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The article is dedicated to examining the role of startups in creating innovative ecosystems. The purpose of the study is to identify key indicators that reflect the importance of AI startups in the formation of these ecosystems. The research methodology encompasses a diverse array of analytical tools and approaches to provide a comprehensive understanding of the subject. It includes statistical analysis for quantifying and interpreting data related to startup activities and their impacts on innovation ecosystems. Additionally, the study incorporates general scientific approaches, which involve systematic inquiry, and theoretical framework development, to ensure a robust and well-rounded investigation of the role of startups in creating innovative ecosystems. The findings reveal that innovative ecosystems are networks of interdependent actors that drive entrepreneurship within a specific territory. There has been a significant global increase in such ecosystems, with a projection to reach 155 by 2025. Today, about 3% of companies use artificial intelligence technologies, and it is predicted that by 2030, 80% of companies will have adopted artificial intelligence technologies to some extent, and the global impact of AI on GDP will be $16 trillion. Startups are identified as crucial in these ecosystems, often leading their development, especially in countries like the United States, the UK, Israel, Canada, and Sweden. The global startup landscape shows fluctuations with sectors like life sciences and Deep Tech demonstrating resilience and growth, highlighting the essential role of AI startups in fostering innovation and economic development. The research concludes that startups are moving innovation ecosystems away from traditional corporate-driven models to more dynamic, agile, and open forms of innovation. They bring rapid, disruptive changes to markets, diversify funding sources, and create job opportunities, with big companies increasingly collaborating with startups for new ideas and technologies. The practical significance of this study lies in providing insights for policymakers, entrepreneurs, and investors on fostering and leveraging startups for economic growth and innovation. It highlights the need for supportive environments that encourage startup activities, particularly in emerging economies.

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“…Literature on the innovation ecosystem, similar to the other concepts of the ecosystem in management, experienced significant growth in recent years. Innovation ecosystems represent communities of interacting actors that support innovation processes and create technologies and innovations (Ianioglo, 2022). The main features of the ecosystem are universities and research institutions, sufficient financing of new companies, a symbiotic combination of large established companies and new start-ups, a sufficient market for new innovative products as well as a risk-taking entrepreneurial culture (Ianioglo, 2022).…”

Section: Ecosystems: Theoretical and Conceptual Constructsmentioning

confidence: 99%

“…Innovation ecosystems represent communities of interacting actors that support innovation processes and create technologies and innovations (Ianioglo, 2022). The main features of the ecosystem are universities and research institutions, sufficient financing of new companies, a symbiotic combination of large established companies and new start-ups, a sufficient market for new innovative products as well as a risk-taking entrepreneurial culture (Ianioglo, 2022). Predecessors of the innovation ecosystem are considered to be the innovation system and the business ecosystem (Ianioglo, 2022).…”

Section: Ecosystems: Theoretical and Conceptual Constructsmentioning

confidence: 99%

Institutional and individual factors enabling the growth of Lesotho’s MSMEs in the manufacturing sector

Makara,

Benedict,

Booysen

2023

IJBES

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As a means of seeking more effective ways to curb the unemployment levels in Sub-Saharan countries, governments are beginning to include the development of the manufacturing sector in their country's strategies, and Lesotho is not an exception. This paper aims to determine the role of various institutional and individual factors which when present and collaborating in an entrepreneurial ecosystem can contribute to the successful growth of MSMEs operating in the manufacturing sector. This paper is also aimed at developing a conceptual framework suitable for the growth of these MSMEs in Lesotho by linking concepts of industrial and entrepreneurial ecosystems. This study utilised a qualitative exploratory research approach and data were collected using semi-structured interviews. In total, 12 candidates from government, financial, and educational institutions as well as the media were interviewed. Data were analysed using thematic analysis. The main findings of the study demonstrate that a suitable ecosystem for MSMEs in the manufacturing sector in a country such as Lesotho should consist of policies and regulations that support and encourage financial institutions to assist MSMEs. Government regulated media institutions disseminate regular information relating to existing policies, regulations, and opportunities and educational institutions provide adequate skills and knowledge to enhance an individual’s entrepreneurial alertness, creativity, and innovativeness. An inclusive ecosystem for MSMEs in the manufacturing sector in Lesotho should also involve the collaboration of MSMEs with larger firms and the establishment of independent regulated quality assurance institutions to assure the quality of products and increase customer confidence.

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Innovation and Entrepreneurial Ecosystems

Cited by 6 publications

References 33 publications

Understanding Innovation Ecosystems

Understanding Innovation Ecosystems

The Role of Startups in Creating Innovative Ecosystems

Institutional and individual factors enabling the growth of Lesotho’s MSMEs in the manufacturing sector

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