Innovation and entrepreneurship are vital sources of growth. It generates
personal growth for entrepreneurs market growth for firms that develop new product and services, and growth for municipalities, regions and countries in the form of increased employment and sustainable output such as food, healthcare and energy. Innovation and entrepreneurship cannot exist in a vacuum. Rather, they are the result of business ecosystems. Business ecosystems consist of multiple actors jointly creating something new, including:
- local communities
- non-governmental organisations
- knowledge institutes
Within these ecosystems actors are increasingly interdependent. Therefore, innovation and entrepreneurship need to be understood in their social, institutional, economic, and geographical context.
What does the Hot Spot Responsible Innovation and Entrepreneurship offer?
The Hot Spot provides knowledge for entrepreneurs, innovative firms and policy makers in the area of innovation. Their shared business ecosystem perspective and their varied disciplinary backgrounds provide them a better and more holistic understanding of innovation and entrepreneurship in the 21st century.