Author
Abstract
Innovation scholars have long recognized entrepreneurship is ‘imitative’, whereas the commercialization of novelty is ‘innovative’. Thus they are highly distinctive skill-sets. Entrepreneurship, first, involves optimizing market sentiment for pure profit sometimes to the point of catastrophe and even fraudulence in many markets. These include: payment protection insurance (PPI) to ‘flash crashes’, automotive emission ‘defeat devices’, corporate bribery settlements, social media ‘hacking’, ‘fake news’ and a litany of other infractions and catastrophes. Innovation, by contrast, is more explorative and team-reliant. Even if patenting betrays the hope for commercialization on markets, patented innovation frequently fails. Some academic innovators even profess a preference for prizes over profits. Second, this means that collective ‘bonding’ among entrepreneurs, in the form of claimed ‘entrepreneurial ecosystems’, is often based on a single customer platform or as a supplier of a highly specialist type of ‘imitative’ service from identikit pizza chains to ‘me-too’ smartphone apps. Through the latter, fused with artificial intelligence some interactive machine-learning services have long-existed as ‘postsocial’ algorithms serving customers of, for example, investment banks in stock and currency markets. Finally, entrepreneurship is fundamentally competitive, individualistic and non-solidaristic, whereas ‘open innovation’ was born from the practices of ‘open science’ and the collegiate tradition of research. Accordingly, ‘entrepreneurial ecosystems’ can display more closure than RIS set-ups. This special issue explores aspects of these ecosystem platforms and their implications for emergent forms of urban and regional evolution in the near and nearly present future.
Suggested Citation
Philip Cooke, 2017.
"‘Digital tech’ and the public sector: what new role after public funding?,"
European Planning Studies, Taylor & Francis Journals, vol. 25(5), pages 739-754, May.
Handle:
RePEc:taf:eurpls:v:25:y:2017:i:5:p:739-754
DOI: 10.1080/09654313.2017.1282067
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