Systems of Innovation

Systems of Innovation refer to the interconnected networks and processes through which new ideas, products, and technologies are developed and brought to market. This includes interactions among businesses, research institutions, government agencies, and consumers. Each component plays a role in fostering creativity, sharing knowledge, and facilitating collaboration. By working together, these elements create an environment that encourages innovation, ultimately leading to economic growth and societal advances. Essentially, it's about how different players in the economy work together to turn ideas into reality and drive progress.