Innovation Systems Theory

Innovation Systems Theory suggests that innovation results from the interactions among various actors and components within a specific environment—such as firms, universities, government agencies, and infrastructure. It emphasizes that progress doesn't happen in isolation but through collaboration, knowledge exchange, and coordinated efforts within a regional or national context. This interconnected network fosters the development, diffusion, and adoption of new ideas and technologies, ultimately driving economic growth and competitiveness. In essence, innovation thrives when the right institutions, policies, and relationships are in place to support continuous learning and experimentation.