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B2 S1 The geography of innovation: regional innovation systems (knowledge…

- - - - dominates economic activities where:
        
        knowledge creation often based on formal models
        
        codified science
        
        rational processes
        
        scientific knowledge is highly important
        
        e.g. biotech; info tech
      - central activities in knowledge production:
        
        basic and applied research
        
        systematic development of products and processes
      - innovation process fed by:
        
        in-house R&D
        
        research output (unis; other research orgs)
        
        more frequent interactions than for synthetic knowledge paths
        
        knowledge inputs and outputs: often more codified/codifiable than synthetic
    - - industrial settings
      - born of need to solve a problem
      - application or novel combination of existing knowledge
      - innovation derived
        
        dominated by the modification of existing products and processes
        
        efficiency & reliability of new solutions
        
        practical utility
        
        friendliness of products
- - - - via existing underlying commonalities
        
        same language, common codes of comms, cultural norms, personal relationships, aligned interests/ experiences
        
        ...which builds vital trust....
        ...and facilitates 2-way local flow of tacit (& codified) knowledge
  - - - firms (customers, suppliers, competitors)
      - research orgs (uni, public & private research institutions)
      - public agencies (tech transfer centres, development agencies)
- - - - social assets
        
        difficult to be emulated by non-locals; preserves first mover advantage
        
        existing between firms, local firms, unable to be accessed by non-locals
        
        establishes base for sustainable competitive advantage
  - - - some knowledge is only share to locals;
        word of mouth; purposely withheld data (failures)
      - local knowledge can facilitate time
        & cost saving research strategies
        
        shorter pathway to innovation
    - - brightest minds attracted to regions
        w highest opportunity concentration
    - - where opportunities are present,
        workers chose to settle where quality of life is most suitable