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Clusters Of Innovation
Clusters of Innovations (COI) have been defined in 2015 as "global economic hot spots where new technologies germinate at an astounding rate and where pools of capital, expertise, and talent foster the development of new industries and new ways of doing business."Engel, Jerome S, "Global Clusters of Innovation: lessons from Silicon Valley", California Management Review, winter 2015, Vol. 57 Issue 2, pp. 36-65 Concept The definition of a clusters of innovation (COI) is an evolution of the original concept of Business cluster which Michael Porter had proposed in 1990 as a "Geographically proximate group of interconnected companies and associated institutions in a particular field" The most noticeable difference is the term innovation, which did not appear in the 1990 concept, although implied, because companies and other entities within the ecosystem and their relationships stimulate the development of new technologies and accelerate learning.Michael E. PorteClusters and the New Ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cluster
A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. Accounting is a part of the business cluster. In urban studies, the term agglomeration is used.Porter, M. E. 1998, Clusters and the new economics of competition, Harvard Business Review, Nov/Dec98, Vol. 76 Issue 6, p77, Clusters are also important aspects of strategic management. Concept The term business cluster, also known as an industry cluster, competitive cluster, or Porterian cluster, was introduced and popularized by Michael Porter in ''The Competitive Advantage of Nations'' (1990). The importance of economic geography, or more correctly geographical economics, was also brought to attention by Paul Krugman in ''Geography and Trade'' (1991). Cluster development has since become a focus for many government programs. The under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective products, processes, services, technologies, art works or business models that innovators make available to markets, governments and society. Innovation is related to, but not the same as, invention: innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations require a new invention. Technical innovation often manifests itself via the engineering process when the prob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silicon Valley
Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo County and Santa Clara County. San Jose is Silicon Valley's largest city, the third-largest in California, and the tenth-largest in the United States; other major Silicon Valley cities include Sunnyvale, Santa Clara, Redwood City, Mountain View, Palo Alto, Menlo Park, and Cupertino. The San Jose Metropolitan Area has the third-highest GDP per capita in the world (after Zurich, Switzerland and Oslo, Norway), according to the Brookings Institution, and, as of June 2021, has the highest percentage of homes valued at $1 million or more in the United States. Silicon Valley is home to many of the world's largest high-tech corporations, including the headquarters of more than 30 businesses in the Fortune 1000, and thousands of startup companies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leapfrogging
Leapfrogging is a concept used in many domains of the economics and business fields, and was originally developed in the area of industrial organization and economic growth. The main idea behind the concept of leapfrogging is that small and incremental innovations lead a dominant firm to stay ahead. However, sometimes, radical innovations will permit new firms to leapfrog the ancient and dominant firm. The phenomenon can occur to firms but also to leadership of countries or cities, where a developing country can skip stages of the path taken by industrial nations, enabling them to catch up sooner, particularly in terms of economic growth. Industrial organization In the field of industrial organization (IO), the main work on leapfrogging was developed by Fudenberg, Gilbert, Stiglitz and Tirole (1983). In their article, they analyze under which conditions a new entrant can leapfrog an established firm. That leapfrogging can arise because an established monopolist has a somewhat re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frederick Emmons Terman
Frederick Emmons Terman (; June 7, 1900 – December 19, 1982) was an American professor and academic administrator. He was the dean of the school of engineering from 1944 to 1958 and provost from 1955 to 1965 at Stanford University. He is widely credited (together with William Shockley) as being the father of Silicon Valley.Palo Alto History Project Early life Terman was born to and Anna Belle Minton Terman on June 7, 1900, in Indiana, U.S. His father, , a psychologist who studied gifted children and popularize ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford Research Park
Stanford Research Park (SRP) is a technology park established in 1951 as a joint initiative between Stanford University and the City of Palo Alto. It has more than 150 companies, including Hewlett-Packard, Tesla Motors, TIBCO and VMware; previously, it housed high-profile companies, including Steve Jobs's NeXT Computer, Xerox PARC, and Facebook. It has been called "an engine for Silicon Valley" and "the epicenter of Silicon Valley". Facilities The park covers 700 acres (2.8 km²) This report also includes a map of the research park and has 10 million square feet of commercial real estate in an area surrounding Page Mill Road, south west of El Camino Real and extending beyond Foothill Expressway to Arastradero Road. As of January 2018, the park's 140 buildings house over 150 different companies and their 23,000 employees. It is currently home to companies like Hewlett-Packard, Lockheed Martin, Tesla Motors, Nest, Skype, TIBCO and SAP. VMware is the park's largest tenant as of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venture Capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. The start-ups are usually based on an innovative technology or business model and they are usually from high technology industries, such as information technology (IT), clean technology or biotechnology. The typical venture capital investment occurs after an initial "seed funding" round. The first ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Innovation
Open innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D. Use of the term 'open innovation' in reference to the increasing embrace of external cooperation in a complex world has been promoted in particular by Henry Chesbrough, adjunct professor and faculty director of the Center for Open Innovation of the Haas School of Business at the University of California, and Maire Tecnimont Chair of Open Innovation at Luiss. The term was originally referred to as "a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology". More recently, it is defined as "a distributed innova ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Sharing
Knowledge sharing is an activity through which knowledge (namely, information, skills, or expertise) is exchanged among people, friends, peers, families, communities (for example, Wikipedia), or within or between organizations. It bridges the individual and organizational knowledge, improving the absorptive and innovation capacity and thus leading to sustained competitive advantage of companies as well as individuals. Knowledge sharing is part of the Knowledge management process. Apart from traditional face-to-face knowledge sharing, social media is a good tool because it is convenient, efficient, and widely used. Organizations have recognized that knowledge constitutes a valuable intangible asset for creating and sustaining competitive advantages. However, technology constitutes only one of the many factors that affect the sharing of knowledge in organizations, such as organizational culture, trust, and incentives. The sharing of knowledge constitutes a major challenge in the f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation System
The concept of the innovation system stresses that the flow of technology and information among people, enterprises, and institutions is key to an innovative process. It contains the interactions between the actors needed in order to turn an idea into a process, product, or service on the market. Development and diffusion of the concept Systems of Innovation are frameworks for understanding innovation which have become popular particularly among policy makers and innovation researchers first in Europe, but now anywhere in the world as in the 1990s the World Bank and other UN-affiliated institutions accepted. The concept of a 'system of innovation' was introduced by B.-Å. Lundvall in 1985; "however, as he and his colleagues would be the first to agree (and as Lundvall himself points out), the idea actually goes back at least to Friedrich List's conception of "The National System of Political Economy" (1841), which might just as well have been called "The National System of Innovatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation District
Innovation districts are urban geographies of innovation where R&D strong institutions, companies, and other private actors develop integrated strategies and solutions to develop thriving innovation ecosystems–areas that attract entrepreneurs, startups, and business incubators. Unlike science parks, innovation districts are physically compact, leverage density and high levels of accessibility, and provide a “mash up” of activities including housing, office, and neighborhood-serving amenities. Districts signify the collapse back of innovation into cities and is increasingly used as a way to revitalize the economies of cities and their broader regions. As of 2019, there are more than 100 districts worldwide. Since the 1950s, entrepreneurial clustering had followed the Silicon Valley model of suburban corridors with sprawling research centers and campuses. In the late 1990s, Internet startups and creative companies started to cluster in downtown neighborhoods such as Silicon All ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation, Science And Economic Development Canada
Innovation, Science and Economic Development Canada (ISED; french: Innovation, Sciences et Développement économique Canada; french: ISDE, label=none)''Innovation, Science and Economic Development Canada'' is the applied title under the Federal Identity Program; the legal title is Department of Industry (). is a department of the Government of Canada. ISED is responsible for a number of the federal government's functions in regulating industry and commerce, promoting science and innovation, and supporting economic development. The department was known as Industry Canada (IC) prior to 2015. The department is led by the minister of innovation, science and industry (currently François-Philippe Champagne), who also serves as the registrar general of Canada and is responsible for the department to Parliament. Several other ministerial portfolios are associated with the department. While the minister is head of the department, and provides policy/political direction, the day-to-day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
