What Is An Innovation Ecosystem?

We’re currently living in a digital age. One where Zoom meetings and Slack conversations are more popular than ever before. The number of remote workers is growing, and a lot of people think that’s the way of the future.   But is that really the case? More and more people are moving into larger cities than ever before. People crave that sense of belonging. Companies crave it as well. They want workers in the office because that’s where the ideas stem. Together in a group, as a part of a team, is where innovation comes to fruition.

How Is Innovation Ecosystem Defined?

An innovation ecosystem is a gathering of minds with the purpose of new ideas. These networks of people do the following:

Encourage each other, they don’t compete
Encourage diversity and open-mindedness
Identify the issues at hand, and ensure active flow

These steps are to ensure that the group of innovators are as productive as possible. The minds of these people need to come from different walks of life. Disagreement is encouraged, though fighting is not.   It isn’t a competition. The end goal should be the same. Whether you’re working on new ideas, methods, or ways of living, you should all want the same thing. Getting there, however, can be challenging. But no great ideas ever came easy.

What Types Of Innovation Ecosystems Are There?

There are three types of innovation ecosystems. City, Industry, and corporate.

City innovation ecosystems include different institutions to those in a given city. Whether it be research groups or coworkers in an office building, these types of ecosystems exist within cities.

Industry innovation ecosystems include your entrepreneurs, start-up businesses, venture capitalist, and large corporations.

Corporate innovation ecosystems are when you bring in outside thinkers to help achieve your goal. Different innovation labs or consultants are part of a corporate innovation ecosystem. The goal here is to provide fresh ideas. Sometimes working with the same people all the time can stop the flow of ideas.

Musicians often deal with this. They play with the same members for such a long time, that the ideas grow stale. Then they reach out to outside collaborators to offer some fresh ideas.

There are many benefits to creating a corporate innovation ecosystem. Getting a diverse perspective can often lead to a shorter timeline for your ideas. People are often surprised by how smooth and fast the process can be when new minds are added to the project.

The transparency often helps with corporate innovation ecosystems. There’s no prior relationships or fear of potentially upsetting a friend or close coworker. When you bring in outside thinkers there’s no previous relationships to worry about. It’s straight to business, and this can offer fantastic results.

The Business World Is Changing

With climate change and the change to the workforce, the future presents its problems. This is why innovation ecosystems are incredibly important. While the world seems to be heading in the other direction, it’s apparent that physical human connection is as needed now as it ever was.   The future needs thinkers. It needs to light that spark and connect the dots. For the world to continue, and to grow, it needs innovation. By 2030 it is estimated that two-thirds of the worlds population will live in urban areas.

Up to 800 million people will be looking for new jobs because of advancements in technology. The world needs thinkers now. The world needs diverse groups of innovators, who can sit together and come up with plans for a brighter future.