Technology, Market and Company Journeys: How Can We Help Them Succeed? - Technopolis: Best Practices for Science and Technology Cities - page 195

Fig. 1 Characterisation of the elements and interfaces which are likely to support innovation
Launonen and Viitanen ( 2011 )

To understand how to encourage a more widespread adoption of innovation
related business practices has led to extensive reviews of the dynamic of the
processes. One of the conclusions is that external economic, social, business and
technology related conditions are an important influence. The current view is that
these conditions can be most effectively created through active public-private
partnerships that bring together a number of interconnecting elements which are
characterised in Fig. 1 .
After Hubconcepts (TM)— Launonen and Viitanen ( 2011 ) in Hubconcepts
(TM)—the Global Best Practice for Managing Innovation Ecosystem and Hubs
published by Hubconcepts Inc ( 2011 ).
The current consensus is that drivers that combine to create this environment
and push this system require public sector policies and associated investment in
education, infrastructure and knowledge generation Research and Development
(R&D). The next level of policy and investment needs to encourage the formation
of public-private partnerships which share the risks of further development of the
outputs from this process. Diminishing risks are eventually perceived as acceptable
by the private sector and at that stage the balance of public engagement in the
partnership fades significantly; although this element can never disappear com-
pletely because they still have to operate in regulated environments.
For the relationships that make up this process to most effect there needs to be
structures, mechanisms and instruments that enable the transfer of ideas and the
risk associated with their development, between each level. Pre and full business
incubators are now commonly adopted as part of the infrastructure that supports
the initial handover from being supported by the public sector to entities that are
supported by public-private partnerships. Science and technology parks