Applying territorial innovation models to less favoured regions in Western Newfoundland
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,...
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| Format: | Thesis |
| Language: | English |
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Memorial University of Newfoundland
2022
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| Online Access: | https://research.library.mun.ca/15756/ https://research.library.mun.ca/15756/5/converted.pdf https://research.library.mun.ca/15756/3/AEE.MUN.CB.FreqImp.9-17.pdf |
| Summary: | 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 wealth and employment. This is problematic where the culture of entrepreneurship is weak, and entrepreneurs are not leading ecosystem development. The first goal of this thesis is to outline issues that arise in applying TIMs to less favoured regions. The second is to develop a theory-based model that is more relevant to less favoured regions to support local entrepreneurs, governments, and industry to create positive economic change in their regions. This thesis brings together key factors of RIS, entrepreneurial ecosystems and less favoured regions to develop a model that is more relevant to these regions. This adapted model pulls factors across seven themes that have emerged from the literature review of RIS, ecosystems and less favoured regions, to produce a working model that can support these regions. |
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