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Probed extensively, the relevance of innovation ecosystem goes far beyond the binary of symbiotic and parasitic innovation. Indeed, the popularity of the concept of innovation ecosystem across countries is proof of the diversity of the idea as applicable in practical life.

Across the globe, the rapid emergence of innovation labs and excubators has led to a relentless valuation of the concept of the innovation ecosystem. However, it is extremely crucial to comprehend ways to bring about an ideal innovation system exercising a certain degree of poise. 

Features of an Ideal Innovation Ecosystem: Realistic Ventures

One of the most recent ventures in the innovation ecosystem is Station F developed in Paris. Space is one of the most evident examples of creating ecosystems which may interact and cooperate with one another without compromising on the vitality of ground elements. 

Indeed, the surging popularity of excubators, innovation labs and fab labs among other things is proof of the inter-operative element of spatially diverse innovation ecosystems.

Trans-disciplinary Venture

So far as symbiotic innovation is concerned, it is important to focus on the development of trans-disciplinary fields. For instance, according to Metcalfe’s law, the success of a particular network is directly proportional to the number of opportunities available in the network.

Innovation opportunities are not an individual enterprise. In this regard, it is important to achieve a collective endeavor in order to bring about the fruits of such an idea. Companies, government, and universities need to group in order to fructify the quintessential innovation ecosystem.  

Decentralization is the Key

In order to develop the ideal innovation ecosystem, it is necessary to prefer the horizontal relationship to centralized power concentration. One of the leading exponents in this regard is La ‘Zooz, a carpool startup from Israel. The essential feature of the program is indulgence in blockchain-enabled governance. 

Tools for a more Collaborative Indulgence

Generally speaking, the necessity of a more collaborative indulgence is imperative more than ever, thanks to the emergence and consequent popularity of smart data, neuroscience, artificial intelligence, and blockchain. 

In fact, according to an article published by Harvard Business Review France, the vitality of blockchain technology is one of the key elements of engendering shred trust and mutual benefit. Indeed, blockchain can help bring about equity among members in a particular ecosystem in order to foster greater levels of decentralization. 

Ethical Involvement Matters

One of the overlooked criteria includes the lack of an ethical indulgence in the transpiration of innovation ecosystems. Each and every stakeholder needs to partake of the collective cognition in the innovative venture in order to bring about a successful conclusion.

As may be clear, the symbiotic relationship is always preferable to a parasitic one. Moreover, it is important to underscore the significance of lived inter-organizational participation wherein each and every member is bound together by a common vision. 

In fact, older successful ideas of such collaboration include the likes of technology parks such as Sophia Antipolis in France and Research Triangle Park in North Carolina. These are some of the successful innovation ecosystem ventures wherein the idea was to develop a symbiotic relationship, primarily taking geographic propinquity in consideration. 

Vijith Sivadasan

Written By Vijith Sivadasan

An enterprising visionary and a serial entrepreneur, Vijith is driven by instinct in his pursuit for creative excellence. Passionate about transformational marketing strategies, he enunciates the critical need of analytic skills to maximize business potential. To know more on how he can add value to your business, drop him a line at vijith@codelattice.com

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