Innovation, The State, and The Company

         When we say about the concept of innovation, it refers to the research, development, adaptation, imitation of some new technologies in specific fields. Such an innovation system is a network system of various organizations existing in the economic system, which is directly related to the creation, dissemination, application and coordination of scientific and technological knowledge and the organizations responsible for supporting these processes. Through the innovation system, the State and private sector can mutually benefit each other (Mazzucato, 2016, p. 31).

        Innovation is really the result of the interaction of many factors, including companies, universities, and research associations. Individual organizations rarely have all the knowledge they need to innovate. Therefore, they need to combine scientific, design, engineering, and operational knowledge from other sources. If innovation is to be successfully implemented, it requires a series of organizations and practices.


        Institutions are important for the smooth operation of the innovation process, including science and technology organizations, universities, research institutions, development organizations, and so on. Organizations that provide the infrastructure for innovation are equally important. These include government agencies, departments, patent offices, public and private investment agencies. None of these institutions can be isolated, and each exists in an interconnected network. All in all, in the economic market, who lead the trend of innovation? The answer is that the State or the government.

Mazzucato, M. The entrepreneurial state, Chapter 1, “From Crisis Ideology to The Division of              Innovative Labour”.

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