The Knowledge Region - with innovation to growth
Mapping the regional innovation system
Continuous innovation is the motor of a development towards a knowledge-based and sustainably competitive economy for high-wage locations. However, innovation itself is not a clearly defined object or activity. Rather, innovation is a multilayered and multi-stage process that can also take a variety of forms.
Support of the political decision-making process to promote innovation and growth in a region
If Western Europe is to maintain its high wage and wealth levels in the medium term, it must maintain and extend its productivity advantage over most of the world. Consequently, productivity must be continuously increased, which requires a high innovation density. The keywords in this context are: Education, knowledge, innovation and productivity.
Regions in particular feel this pressure to innovate. A regional economy is not only exposed to the (cost) competition caused by globalisation, but is also in innovation competition within the industrialised world. The aim of a region must therefore be to be one step ahead in innovation competition.
Recording innovation potential
The approach of BAK Economics makes it possible to draw a picture of a knowledge region with the aim of identifying the innovation potential of a region and systematically comparing it with other competing regions relevant due to their location or sector structure ("benchmarking"). Based on this, an ongoing monitoring of the development of the innovation potential is possible. A region is not only regarded as a unit; the industries relevant for a region are also examined separately. The analyses draw on a large number of indicators that reflect the knowledge and innovation potential of the region and allow international comparison. The monitoring is quantitative and includes inputs into the innovation process, indicators for different positions within the innovation process as well as the outcome of the innovation process.
Which questions can be answered?
The analyses of BAK Economics show where a knowledge region stands in global competition: The innovation potential of the region as a whole, but also of the industries located within it, is recorded and compared with that of selected competing regions.