To help communities become more innovative and achieve prosperity, ViTAL Economy (VE) developed our Innovation Ecosystem, which is based on two fundamental assumptions about the nature of the 21st century economy. The first is that we live in a knowledge-based economy, where knowledge workers live where they want and work where they live. Second, innovation is about connecting, not inventing; therefore, collaboration is essential to innovation.
VE’s Innovation Ecosystem enables a remote regional economy to enjoy the advantages of being a first-mover innovation economy, a self-sustaining eco-system of connected but separately controlled innovation assets.
- Business incubators
- Technology-transfer resources
- Research centers of excellence
- Workforce development assets
- Small business development center (SBDC) resources
- Equity and debt finance sources
An Innovation Ecosystem generates entrepreneurial ventures within the regional economy, allowing it to take on gazelle-like behaviors (rapid growth) that attract and retain entrepreneurs, angel investors, venture capitalists, entrepreneurial students and knowledge workers.
Described below are several Innovation Ecosystem services that you can include in your VE Journey. These services respond to the VE axiom, “an idea will never be an innovation without an entrepreneur!” Contact us to discuss your region’s interest in innovation.
Innovation Ecosystem Services
Related VE Journey Point: Innnovate