Actors of innovation processes

The presence of the three basic assets: R&D – industry – finance is crucial for the development of a local innovation system.

Besides local businesses, universities, research centres, local authorities and intermediary organizations (e.g. chambers) play a significant role in improving innovation processes. The interaction between these actors might result in a dynamic system, which can put a region on a path to growth.

In several cases, however, SMEs stay isolated, no matter how innovative they are; or it happens that the new product, process developed at universities or many ideas for innovative products or services generated by the universities and research institutions remain out of reach for businesses, due to the lack of professional support or financing.

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