Applying territorial innovation models to less favoured regions in Western Newfoundland ...

• Main Author: Carter, Ken
• Format: Text
• Language: English
• Published: Memorial University of Newfoundland 2022
• Subjects: Newfoundland
• Online Access: https://dx.doi.org/10.48336/56dc-ed14; https://research.library.mun.ca/15756/

Less favoured regions are struggling to adapt to global competition within the knowledge-based economy. Territorial Innovation Models (TIMs), particularly regional innovation systems and entrepreneurial ecosystems, suggest that entrepreneurial startups compete on their ability to innovate. However, less favoured regions and resource-based economies struggle with applying lessons from these models that are tech focused, urban centric and oriented to high growth firms. The question arises as to what TIMs have to say in support of innovation and entrepreneurship in less favoured regions? The quadruple helix and regional innovation systems (RIS) suggest interactions between university research, government support, community partners and industry to increase collaboration to maximize local development. In less favoured regions, key partners are either absent or in a weakened state. Entrepreneurial ecosystems call for entrepreneurs to lead local entrepreneurial efforts to allow new startups to emerge and create ...