REGIONAL DEVELOPMENT

Regions known for their innovative output, like Silicon Valley in the US or the corridor from Copenhagen to Stockholm in Scandinavia, don’t just pop up by accident. It takes a great deal of coordination to create geographically bounded space where organizations share a commitment to fostering a culture of innovation.

The GrowKomp initiative, consisting of 30 Swedish SMEs, is the latest example of a regional development program centered on innovation.

Here Innovation360 took the lead in this EU-founded innovation “lift” – setting their strategic direction, building their capabilities, ironing out business models, training their teams on new capabilities and enhancing their competencies. It all started with an assessment of capabilities for innovation, competencies, diversity and CSR. After two years, we returned to conducts tests and follow-ups to see how close the SMES came to reaching their targets.

Projects like these are covered by our highest levels of accreditation assessments: for regional and societal impacts. We typically collect, identify, and analyze similarities and differences in innovation for companies within a given region, along with how they use their innovation capabilities. Our clients develop regional support and tailor initiatives to drive multi-scale innovation programs that will strengthen all of the companies involved as well as the local eco-system (Triple Helix). These advanced programs normally run for 9–18 months.

Typically, this level of work is done by interaction between government or NGOs, educational institutions, academies and high-growth firms, both start-ups and scale-ups.

A good example is the UN’s ambitious Agenda for Sustainable Development, which specified 17 Sustainable Development Goals that they hope to achieve by 2030. To make progress toward objectives like zero hunger or the elimination poverty within that timeframe, it will take much bigger thinking. It will require a cluster of innovations and radically new ways of thinking about how to solve these problems.

Innovation360 is confident that these goals can and should be reached. In consideration of how much the world has changed over the past decade, it’s reasonable to expect vast changes in the decade ahead. In accordance with our mission, we are confident that sustainability goals like these can be reached by innovative thinking and practical applications. We believe that we have a responsibility to future generations to come as close as we can to achieving those goals.

Our mission is to help organizations all over the world to assess and strengthen their innovation capabilities for sustainable growth and profitability. We support innovation by groups seeking to address humanity’s grand challenges related to Food, Energy, Water, Security, Global Health, Education, Environment, Poverty and Access to Space.

Talk to the experts at Innovation360 for more insights into how to change the world, or at least your corner of it.