The successful application of new ideas in practice in the form of new or improved products, services or processes (Bruce & Bessant 2002). The concept implies the introduction of something novel (to the world or to the circumstance), useful (based on needs) and succesful. Innovation needs to be socially accepted.
Local innovation hubs are here defined as platform services that are spaces and sets of activities for the facilitation and coordination and the generation, development and sustaining of active local innovation ecosystems. Many of these hubs involve activities and functions consisting of co-working spaces, maker labs, FabLabs, living labs and urban living labs.
A “triple-helix” system formed by government, universities or other knowledge creators and the private sector, enabling innovation on a national level. Innovation systems are often considered to be top-down systems.
A complex system that engages government, universities and private sector as well as users, clients, customers, non-governmental organizations and other grassrooot actors. Innovation ecosystems are considered to be more bottom-up than traditional innovation systems. The essence of innovation ecosystems lies in collaboration between all actors of the system.
An economic community supported by foundation of interacting organizations and individuals. (www.businessmodelgeneration.com).
A description of business logic, the
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way a company operates, generates revenues, and creates value for its stakeholders. It helps to map out the matters related to the company’s core business.
Business model canvas (Osterwalder)
A visual model and exercise to understand and create business models. Includes the basic building blocks of the business model (customers, value, infrastructure and financial viability)
The ability to combine ideas into new ways to solve problems and exploit opportunities (Bruce & Bessant 2002).
Design is the purposeful application of creativity throughout the process of innovation (Bruce & Bessant 2002).
Complementary to analytical thinking, design thinking is a creative process based on building up ideas and thinking outside of the box and through “what if?” thinking. There are no judgments early on in design thinking. This eliminates the fear of failure and encourages maximum input and participation in the ideation and prototype phases. Often design thinking process is seen to have seven stages: define, research, ideate, prototype, choose, implement, and learn. Within these seven steps, problems can be framed, the right questions can be asked, more ideas can be created, and the best answers can be chosen. The steps aren’t linear; they can occur simultaneously and can be repeated.
A visual model to understand ecosystems. There are six main domains: enabling policy and leadership, availability of appropriate finance, conductive culture, range of institutional and infrastructural supports, quality of human capital and characteristic of markets. These domains are divided into 12 categories, which represent key components of a healthy ecosystem (after Isenberg 2010).
The business environment affecting the local/regional entrepreneurship. The ecosystem includes individuals, organizations and institutions.
The pre-development phase of innovation where processes are not yet formalized. The phase is characterized by high uncertainty and ambiguity, but provides often the best opportunities to improve the overall innovation capability.
The subset of the market on which a specific product is focusing. The market niche defines the product features aimed at satisfying specific market needs.
The products and services a company offers for its customers. The offering creates the value for the client/customer/user.
Firms create products and services, and then push them out and sell them, and value is created upstream and consumed downstream. The conventional industry and dominant model of business until today (television, britannica, education systems, industry, services). Products & services have exchange value.
Producers and consumers of services are not related to each other in a linear way, but operate on a joint platform (often through new technologies, e.g. the internet) , which allow users / consumers to create value for themselves and other users / consumers (e.g. Wikipedia). Products & services have no value unless users use them.
Product-service systems (PSSs)
An offering of a mix of both products and services. PSSs as systems involve tangibles (the products) and intangibles (the services) in combination for fulfilling specific customer needs (in other words, close to the previous offering) and can provide higher profits than products (or services) alone.
The mechanism that is used to generate profit from the operations of a company.
A person, a group or an organization that affects or is affected by an organization’s actions. In project-based business, a stakeholder has an interest in a project.
Value can mean economic, social, psychological or ecological value. Different actors in the innovation ecosystem system might perceive the value in different ways. There are different value drivers for users, organizations/businesses, the ecosystem and society as large.
Multiple level approach to value aims to help identifying of how, where and to whom is one proposing to create value and what is the nature of that value (den Ouden 2011).
A statement of all the benefits a company promises to deliver for its customer
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