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Value Co-Creation in Innovation Ecosystems (English)

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Innovation Ecosystems presentation to Hong Kong University of Science and Technology (HKUST) at Innovation Forum hosted Prof. Yan Xu. Aug.2010

Value Co-Creation in Innovation Ecosystems (English)

  1. 1. Identifying Value Co-creation in Innovation Ecosystems Using Social Network AnalysisInnovation Ecosystems Network,Martha G Russell, Neil RubensAugust 2, 2010<br />
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  6. 6. Innovation takes at least two.Team skills are required.There are winners and loosers.<br />Although people can communicate anywhere, anytime, it’s difficult for anyone to have all the insights necessary at any one time for major decisions on the complex global issues<br />Innovation is Social<br />
  7. 7. The Knowledge Revolution is here.<br />What can we learn to improve our play?<br />
  8. 8. http://www.innovation-ecosystems.org<br />Innovation Ecosystems Network<br /><ul><li>Martha G Russell, PhD, martha.russell@stanford.edu
  9. 9. Sr. Research Scholar, HSTAR Institute
  10. 10. Associate Director, Media X at Stanford University
  11. 11. Neil Rubens, PhD, neil@hrstc.org
  12. 12. Assistant Professor, Graduate School of Information Systems
  13. 13. University of Electro-Communications, Tokyo
  14. 14. Jukka Huhtamäki, jukka.huhtamaki@tut.fi
  15. 15. Researcher, Lecturer
  16. 16. Hypermedia Laboratory (HLab) of Tampere University of Technology (TUT).
  17. 17. Kaisa Still, PhD, kaisastill@yahoo.com
  18. 18. Knowledge Management Specialist
  19. 19. Beijing DT Electronic Technology Co., Ltd
  20. 20. Mario Gastel, mariogastel@zeelandnet.nl
  21. 21. Graduate student, Texas Advertising, UT Austin
  22. 22. Fulbright Scholar (2009-11)
  23. 23. Jiafeng (Camilla) Yu, camillayu@gmail.com
  24. 24. M.A. in Advertising in Planning Track
  25. 25. The University of Texas at Austin</li></li></ul><li>http://www.flickr.com/photos/ritavitafinzi/2192500407/<br />
  26. 26. “There is no data like more data” <br />(Mercer at Arden. House, 1985)<br />“There is no data like more data” <br />(Mercer at Arden. House, 1985)<br />Tan, Steinbach, Kumar; 2004<br />2,000 points<br />500 Points<br />8,000 points<br />
  27. 27. Higher Dimensions: Double Edged Sword <br />More Data is Need<br />http://wissrech.ins.uni-bonn.de/research/projects/engel/engelpr2/pr2_thumb.jpg<br />Could be easier to find patterns<br />http://www.iro.umontreal.ca/~bengioy/yoshua_en/research_files/CurseDimensionality.jpg<br />
  28. 28. Innovation Ecosystems Network<br />Innovation Ecosystems refer to the inter-organizational, political, economic, environmental, and technological systems through which a milieu conducive to business growth is catalyzed, sustained, and supported.<br />A dynamic innovation ecosystem is characterized by a continual realignment of synergistic relationships of people, knowledge, and resources that promote harmonious growth of the system in agile responsiveness to changing internal and external forces.<br />Optimizing the impact of investments made by stimulus programs and public and private stakeholders is a quest shared by developers around the world.<br />A clear understanding of how to invest local resources for global participation that will accrue benefits to the local area has yet to be fully articulated, and metrics to measure interim progress are greatly needed. IEN aims to fill this void.<br />
  29. 29. .<br />Innovation Ecosystems<br />Dataset<br />35,000 companies include:<br />Sectors: Advertising, biotech, cleantech, consulting, ecommerce, enterprise, games_video, hardware, legal, mobile, network_hosting, public relations, search, security, semiconductor, software, web, other firms serving these.<br />Investment profiles from Ltd to public, financing rounds identified<br />Merger & Acquisition profiles<br />Neil Rubens, Kaisa Still, Jukka Huhtamaki, Martha G. Russell “Leveraging Social Media for Analysis of Innovation Players and Their Moves” <br />Technical Report. Media X, Stanford University, Feb.2010.<br />
  30. 30. # of Companies<br /># of People<br />Neil Rubens, Kaisa Still, Jukka Huhtamaki, Martha G. Russell “Leveraging Social Media for Analysis of Innovation Players and Their Moves” <br />Technical Report. Media X, Stanford University, Feb.2010.<br />
  31. 31. Models of Innovation<br />From organizations to single users to networked individuals <br />eClusters<br />?<br />
  32. 32. The Place for Innovation<br />From localized to regional to virtual shared spaces<br />Innovation Acceleration<br />Networks<br />?<br />
  33. 33. .<br />Number of US Technology-based companies<br />By sector, Dec 2009<br />Neil Rubens, Kaisa Still, Jukka Huhtamaki, Martha G. Russell “Leveraging Social Media for Analysis of Innovation Players and Their Moves” <br />Technical Report. Media X, Stanford University, Feb.2010.<br />
  34. 34. Need for Updating <br />Regional technology-based economic development <br />“The global map of businesses is increasingly dominated by geographically concentrated groups of companies and related economic actors and institutions”<br />The Use of Data and Analysis as a tool for cluster policy, Green Paper on international best practices and perspectives prepared for the European Commission, November 2008<br />“Members of a cluster can be sometimes located worldwide, but linked through information and communication technologies… the term e-cluster is used” <br />Danese, Filippini, Romano, Vinelli 2009<br />“Technological trends are causing a change in the way innovation gets done in advanced market economies”Baldwin & von Hippel November 2009, Harvard Business School Working Paper 10-038<br />“Recognizing that a capacity to innovate and commercialize new high-technology products is increasingly a part of the international competition for economic leadership, governments around the world are taking active steps to strengthen their national innovation systems”Understanding Research, Science and Technology Parks: Global Best Practices, National Research Council of the National Academies, Report 2009<br />
  35. 35. Distance<br />Old<br />New<br />
  36. 36. The New Organizational Chart<br />
  37. 37. Relationship Interlocks<br />Executives and key employees<br />Transfer of technologies and knowledge, professional networks, business culture, value-chain resources <br />Directors<br />US Fortune 500 firms interlocked (shared directors) with average 7 other firms<br />Corporate governance embedded and filtered through social structures <br />Executive compensation, strategies for takeovers, defending against takeovers<br />Gerald F. Davis, “The Significance of Board Interlocks for Corporate Governance,” Corporate Governance 4:3, 1996<br />Investors and service providers<br />Awareness of external forces, competitive insights, resource leverage<br />Relationship interlocks provide<br />Social relationship “filter” for governance, information flow & norms<br />Transfer of implicit and explicit know-how<br />Mental models<br />http://fusionenterprises.ca/Business_Training.php<br />
  38. 38. The new maps may be based on the connections - rather than on distance.<br />
  39. 39. CleanTech<br />Kaisa Still, Neil Rubens, JukkaHuhtamäki, and Martha G. Russell ,<br /> “Networks of Executive Women in Technology-Based Innovation Ecosystems,” Technical Report , Media X, Stanford University, May.2010.<br />
  40. 40. BioTech<br />Kaisa Still, Neil Rubens, JukkaHuhtamäki, and Martha G. Russell ,<br /> “Networks of Executive Women in Technology-Based Innovation Ecosystems,” Technical Report , Media X, Stanford University, May.2010.<br />
  41. 41. PR<br />Kaisa Still, Neil Rubens, JukkaHuhtamäki, and Martha G. Russell ,<br /> “Networks of Executive Women in Technology-Based Innovation Ecosystems,” Technical Report , Media X, Stanford University, May.2010.<br />
  42. 42. Web<br />Kaisa Still, Neil Rubens, JukkaHuhtamäki, and Martha G. Russell ,<br /> “Networks of Executive Women in Technology-Based Innovation Ecosystems,” Technical Report , Media X, Stanford University, May.2010.<br />
  43. 43. Roles<br />CTOs<br />Investors<br />CMOs<br />Founders<br />Kaisa Still, Neil Rubens, JukkaHuhtamäki, and Martha G. Russell ,<br /> “Networks of Executive Women in Technology-Based Innovation Ecosystems,” Technical Report , Media X, Stanford University, May.2010.<br />
  44. 44. Question?<br /><ul><li>What interlock patterns characterize investments into technology-based companies being made by Chinese investment firms?
  45. 45. How are these patterns similar or different to those made by the rest of the world into China?</li></ul>http://4.bp.blogspot.com/_qFju91K89HM/SxRpABd1DTI/AAAAAAAABjw/6LaSJfjfk-I/s1600/Unexpected_Guests.jpg<br />http://successbeginstoday.org/wordpress/wp-content/unexpected2.jpg<br />
  46. 46. Context of Investments in/from China<br />Socially constructed dataset, in English, openly available– all challenges in China <br />Innovation Ecosystems Dataset:<br /><ul><li>323 technology-based companies with one or more locations in China
  47. 47. 42 Chinese, 77 foreign investment firm
  48. 48. Investment into China US$ 5.4 B
  49. 49. Investment originating from ChinaUS$ 3.1 B</li></ul>Insights explored:<br />The flow of financial resources into and out of China <br />More illustrative than descriptive/prescriptive results<br />NodeXL, Tableau<br />Innovation Ecosystem Network<br />
  50. 50. Initial Data Analysis:<br />53% (113) of the Chinese companies from eCIS business sector<br />50 % (66) of the foreign companies are from the eCIS business sector<br />Toward Insights about:<br />Patterns and differences in the characteristics of investment flows into and from China <br />More Specific: Context of eCIS sectoreCommerce and electronic security=eCommerce, software search, network hosting, mobile, games &video, enterprise<br />Innovation Ecosystem Network<br />
  51. 51. HARVESTInvestments from Chinese (making investments)<br />Innovation Ecosystem Network<br />
  52. 52. CULTIVATIONInvestments into China (receiving investments)<br />Innovation Ecosystem Network<br />
  53. 53. Network metrics <br />Innovation Ecosystem Network<br />
  54. 54. Emerging Chinese business clusters linked by investment firms <br />Innovation Ecosystem Network<br />
  55. 55. Cultivation / Harvesting modes - value co-creation<br />Chinese interlocks at the investment firm level<br />Government-led investment firms<br />Knowledge of government guarantees<br />Investments in firms that return benefits to China<br />Global interlocks at both investment firm and enterprise levels<br />Opportunity network & value co-creation<br />http://successbeginstoday.org/wordpress/wp-content/unexpected2.jpg<br />Topline Findings<br />
  56. 56. http://www.flickr.com/photos/manpsing/2618332693/<br />http://www.fabcats.org/owners/feeding/info.html<br />Passive Learning<br />Active Learning<br />FURTHER RESEARCH<br />Personal relationships/opportunity networks <br />Time series analysis<br />Expansion of data <br />Chinese language press releases <br />Chinese business registries<br />
  57. 57. Innovation Ecosystems Network Regional Studies with Global Perspective<br />China, Norway, Finland<br />
  58. 58. .<br />Neil Rubens, Kaisa Still, Jukka Huhtamaki, Martha G. Russell “Leveraging Social Media for Analysis of Innovation Players and Their Moves” <br />Technical Report. Media X, Stanford University, Feb.2010.<br />
  59. 59. Discussion<br />Data, Tools, Questions<br />www.innovation-ecosystems.org<br />Innovation Ecosystem Network<br />

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