A local innovation system is a spatial concentration of firms (including specialized suppliers of equipment and services and customers) and associated non-market institutions (universities,

research institutes A research institute, research centre, research center or research organization, is an establishment founded for doing research. Research institutes may specialize in basic research or may be oriented to applied research. Although the term often im ...

, training institutions,

standard-setting bodies A standards organization, standards body, standards developing organization (SDO), or standards setting organization (SSO) is an organization whose primary function is developing, coordinating, promulgating, revising, amending, reissuing, interpr ...

, local

trade associations A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...

regulatory agencies A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulati ...

technology transfer Technology transfer (TT), also called transfer of technology (TOT), is the process of transferring (disseminating) technology from the person or organization that owns or holds it to another person or organization, in an attempt to transform invent ...

agencies, business associations, relevant government agencies and departments, et al.) that combine to create new products and/or services in specific lines of business. The idea of a local innovation system is an adaptation from the concepts of the

national innovation system The National Innovation System (also NIS, National System of Innovation) is the flow of technology and information among people, enterprises and institutions which is key to the innovative process on the national level. According to innovation syst ...

(original concept) and regional innovation system.

References

Innovation {{Economics-stub

See also

References