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Collaborative Innovation Blocs and Mission-Oriented Innovation Policy: An Ecosystem Perspective

In: Questioning the Entrepreneurial State

Author

Listed:
  • Niklas Elert

    (Research Institute of Industrial Economics (IFN))

  • Magnus Henrekson

    (Research Institute of Industrial Economics (IFN))

Abstract

Among contemporary economists, Mariana Mazzucato stands out for her emphasis on the importance of innovation to solving pressing challenges and achieve a greater quality of life. However, the type of mission-oriented innovation policies she promotes usually rely on an overly mechanical view of innovation and economic growth. We employ an ecosystem perspective to demonstrate that innovative entrepreneurship takes place in a collaborative innovation bloc consisting of a myriad of nodes. Entrepreneurs, inventors, early- and later-stage financiers, key personnel, and customers are all actors whose skills and abilities are necessary to realize an entrepreneurial project. When mission-oriented policies play a large role in an industry’s production or financing, connections between actors in the innovation bloc risk being severed, severely curtailing the scope for actors to play their requisite roles. Thus, there is a risk that such policies do more harm than good for innovation and economic growth.

Suggested Citation

  • Niklas Elert & Magnus Henrekson, 2022. "Collaborative Innovation Blocs and Mission-Oriented Innovation Policy: An Ecosystem Perspective," International Studies in Entrepreneurship, in: Karl Wennberg & Christian Sandström (ed.), Questioning the Entrepreneurial State, pages 345-367, Springer.
    • Handle: RePEc:spr:inschp:978-3-030-94273-1_18
    DOI: 10.1007/978-3-030-94273-1_18
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    Keywords

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    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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