Drawing on extensive new research through dozens of interviews with entrepreneurial champions in diverse sectors, Creating Regional Wealth in the Global Innovation Economy pinpoints the key reasons why some locations succeed in the quest to become centers of technology and innovation - and sustain their competitive advantages over time - while others fail. It answers the central questions about the world's entrepreneurial hotspots: What makes these locations special? How can local business and government organizations most effectively promote local entrepreneurship? And what can budding centers of entrepreneurship do in order to enter the game?
About the Authors.
1. The Innovation Economy.
I. SILICON VALLEY: THE MAGNETIC FORCE.2. Global Entrepreneurs and Marketing of Multinational Companies.
II. IRELAND: THE ENTERPRISE ISLE.5. Enterprise Spirit and Trade Union Social Contract.
III. STOCKHOLM, SWEDEN: “THE HIGH-SPEED GLOBILE INNOVATIONS COMMUNITY”.8. Industry Specialization and Leveraging Intellectual Capital.
IV. GERMANY, THE UNITED KINGDOM, AND FRANCE: EUROPE'S INDUSTRIAL GIANTS ADAPTING TO THE GLOBAL INNOVATION ECONOMY.10. Munich - The Hidden Champion: Creating an Entrepreneurial Culture with State Government in Partnership with Business.
V. HIGH-TECH ISLANDS OF TAIWAN AND ISRAEL.13. Taiwan Technology Parks and NGOs.
VI. INDIA: THE BEST HOPE FOR BRIDGING THE DIGITAL DIVIDE.17. India's IT Sector and Government Initiatives in Education.
By 2003 there are expected to be 650 million worldwide users of the Internet. Yet, in this same world it is estimated that two billion people have never made a phone call.
The digital divide between wealthy and poor regions of the world is astounding. Yet, there may be hope that rapid adoption of the Internet and what we call the Innovation Economy (IE) in an expanding number of regions in the world may be able to change this daunting divide.
Creating Regional Wealth in the Innovation Economy: Models, Perspectives, and Best Practices is a guide to understanding how regions and businesses are successfully profiting from this dynamic change through the perspectives of those "entrepreneurial champions," who are improvising new strategies, organizations, and programs.
There is an Innovation Economy, based on the entrepreneurial application of innovative technology, linking regions, and creating great wealth. These regions are successful because individual champions in business, venture capital, universities, government, and nonprofit organizations are collaboratively working and adapting to this Innovation Economy. This book provides their perspectives to help others to better understand and succeed.
This book written is for anyone concerned with these kinds of questions:
Departing from the hundreds of recent business books documenting the successes of the California region Silicon Valley, Creating Regional Wealth in the Innovation Economy examines and illustrates successful principles and examples from several world-class regions. You get the benefit of in-depth perspectives of people who are leading the way in government, business, universities, and NGOs (non-government organizations). This is truly a global bookwith expert perspectives and focus on success factors from nine regions, which represent a breadth of geographic and circumstantial diversity.
As important, the regions and organizations we've modeled have discovered ways to adapt to the IE, illustrating varying approaches to success. We have also included resources and Web sites the reader can access for more detailed information on subjects of specific interest. For Web site links go to www.creatingregionalwealth.com or www.creatingregionalwealth.net.
There are obvious omissions of great dynamic markets that are major players in the IE such as Boston, Seattle, and Austin in the U.S.; Finland; Japan; and Singapore to name just a few. The authors selected the markets we and our colleagues knew with the hope that these would provide sufficient examples to assist other regions in the world. So, the selected regions do not indicate a ranking of importance relative to other world-class high-tech regions. The regions are:
The authors define and illustrate some of the principles that have enabled each of these regions to succeed, by focusing on several key factors in each region.
We wrote this book with several principles in mind:
You can both better understand and apply the knowledge gained of how different regions, through the perspectives of highly successful people in those regions, have developed ways to successfully adapt to the IE. Their insights and practices, based on their own socioeconomic and market environments, provide the great value of this book. While each market model may differ from the other, they work in combination to create an integrated global economy that is more inclusive than exclusive.
We highlight significant changes in the dynamics of the following fields and disciplines, through selected focus on examples in each of the markets:
We also highlight the cultural factors directly affecting the success of these disciplines and approaches:
We illustrate through excerpts of conversations with those who are on the front lines of change in business, education, and government how to create regional wealth. We also provide case studies to illustrate some of the success stories in these regions. We have tried to transmit the wisdom of these different individuals in their own words, using their own idioms and examples. Hopefully, we have captured their exuberance and passion as well as their insights. Each gave freely of their wisdom in the hope that their experience could help others. In that respect they are all our true collaborators in this endeavor.
For every region, we enlisted the assistance of professors and colleagues who were native to that country in the hope that we would provide a truer "flavor" and veracity for the dynamics of the region profiled.
Rather than replicate Silicon Valley, California, each of the regions and companies we profile here have utilized Silicon Valley principles and created their own models to leverage their particular competitive advantage. Through their examples, others can learn how to develop their own methods to define a technology strategy that works for them.
This book should help the reader to better understand how the dynamics of the IE have been harnessed for making regional wealth. Our hope is that through the wisdom and insight of remarkable people, across a broad array of cultures and economic circumstances, who are discovering, innovating, and creating the success stories of our era, this regional wealth creation will be shared.
The authors invite you to visit their Web site at
www.creatingregionalwealth.net for more information and links to the many organizations' Web sites mentioned in this book.