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Regional Innovation Systems and Less Developed Business Ecosystems: Fundamental Concepts and Theoretical Trends

Author

Listed:
  • Katimertzopoulos, Fotios

    (Democritus University of Thrace, Department of Economics)

  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Koutroukis, Theodore

    (Democritus University of Thrace, Department of Economics)

Abstract

In an era of policy-driven systematic encouragement of local innovation processes, the concept of regional innovation systems has been arisen to produce, promote and cultivate the region’s competitive advantage. The key reason for developing specific targeted policy measures within the regional innovation context is to focus on improving local business capacity, competitiveness and performance, including its business ecosystem. From this point of view, it is of crucial importance to promote interactions between different innovative actors who have good reasons to intersect, such as interactions between companies and universities or research institutes, or between small start-ups and larger businesses. These interactions may include interactive local learning and productive knowledge diffusion but they should also include the wider business community and governance framework. Therefore, this study investigates whether policy strategies could be geared towards the promotion of accessibility "to the development of a regional innovation system" and the "development of local comparative advantages" associated with the specific local resources, mainly in less developed business ecosystems. Prior research studies undertaken in less developed business ecosystems indicate that companies themselves will grow in terms of regional development, mainly through innovating. Therefore, in order for local businesses in less developed ecosystems to lay the foundations for effective innovation they must adapt, improve and grow some essential internal business dimensions and variables, such as strategy, technology and management potential (Stra.Tech.Man. innovation theory). In this respect, the present study suggests the conception, analysis and interference of the mechanism of development in terms of the regional competitiveness web. Overall, this academic paper is a conceptual research (Integrative review) that performs a literature review of several field research in regional innovation systems and less developed local business ecosystems, with the overall objective of identifying those variables (such as strategy, technology and management) that could contribute towards effective business innovation and long-term stable growth.

Suggested Citation

  • Katimertzopoulos, Fotios & Vlados, Charis & Koutroukis, Theodore, 2020. "Regional Innovation Systems and Less Developed Business Ecosystems: Fundamental Concepts and Theoretical Trends," DUTH Research Papers in Economics 7-2020, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2020_007
    Note: International Journal of Economics, Business and Management Research, Vol. 4, No. 05, pp. 137-156
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    References listed on IDEAS

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    1. Charalambos Vlados & Fotios Katimertzopoulos, 2018. "Assessing Meso and Micro-Competitiveness Boosting Policies, in Stra.Tech.Man Terms," International Journal of Business and Social Research, LAR Center Press, vol. 8(9), pages 1-15, September.
    2. Fotios Katimertzopoulos & Charis Vlados, 2019. "Towards a New Approach of Innovation in Less Developed Regional Business Ecosystems," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 9(3-4), pages 101-114.
    3. Carlino, Gerald & Kerr, William R., 2015. "Agglomeration and Innovation," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 349-404, Elsevier.
    4. Charis Vlados & Dimos Chatzinikolaou & Fotios Katimertzopoulos & Theodore Koutroukis, 2019. "Regional underdevelopment and less developed business ecosystems: The case of Eastern Macedonia and Thrace," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 31-44.
    5. Katimertzopoulos, F. & Vlados, Ch., 2017. "Local Support Mechanisms for Entrepreneurship: The Approach of Local Development and Innovation Institutions," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 10(1), pages 30-41, March.
    6. Anna Golejewska, 2018. "Innovativeness of Enterprises in Poland in the Regional Context," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 14(1), pages 29-44.
    7. Giovanni Dosi, 2016. "Beyond the ‘magic of the market’. The slow return of industrial policy (but not yet in Italy)," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 43(3), pages 261-264, September.
    8. Harald Bathelt & Andersand Malmberg & Peter Maskell, 2002. "Clusters and Knowledge Local Buzz, Global Pipelines and the Process of Knowledge Creation," DRUID Working Papers 02-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    9. Charlie Karlsson & Per Flensburg & Sven-Åke Hörte (ed.), 2004. "Knowledge Spillovers and Knowledge Management," Books, Edward Elgar Publishing, number 3385.
    10. Vlados, Charis & Chatzinikolaou, Dimos & Deniozos, Nikolaos & Katimertzopoulos, Fotios & Koutroukis, Theodore & Digkas, Agis-Georgios, 2019. "Local Development Dynamics," DUTH Research Papers in Economics 37-2019, Democritus University of Thrace, Department of Economics.
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    More about this item

    Keywords

    regional innovation system; regional competitiveness web; business ecosystem; less developed business ecosystem; Stra.Tech.Man innovation theory;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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