Innovation Explained: Inside the Black Box

open access reportWhile it has often be said that we have entered an era of innovation, to what extent are we seeing accelerated globalisation of products and services and the emergence of new fields of technology, rather than innovation per se? In this book we unpack what innovation means and how we might stimulate innovation at a local level by providing the right conditions and support, and by fostering a culture and behaviour conducive to innovation activities. Forbes for example note that we are entering a new territory where the central challenge will be to bridge the gap between new scientific discovery and commercialisation – known as the ‘Valley of Death’ . The emphasis is on new discoveries in the academic world, and creating the conditions needed for successful exploitation/commercialisation of this new knowledge. When viewed in this way, quantum computing, neuromorphic chips, genomics, nanotechnology, AI and robotics are seen merely as linear developments in the innovation pipeline – in which a direct path is forged between discovery and commercialisation. In this book, we argue that this presents an old world view of innovation, and that the new era of innovation is much more about being connective and relational. In short, that collaboration and connections will become the new competitive attribute and the main tenet of economic growth. As such, we expect innovation to be complex and inherently unpredictable, but also recognise that there are core building blocks around social relations and connections that are visible in all examples of innovation, and from which localities might look to strengthen to tackle economic downturns