By Leonel Corona;Jerome Doutriaux;Sarfraz A. Main
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Extra resources for Building Knowledge Regions in North America: Emerging Technology Innovation Poles
Economic theories have increasingly been including explanations of technological change. Neoclassical theory explicitly includes technology and other related factors (such as education) as part of the production function, the so-called endogenous growth theories. Thanks to the pioneering works of Romer (1986) and Lukas (1988) such efforts in endogenizing the treatment of technology have started to impact mainstream economic literature in a short period of time (see Aghion and Howitt, 1997). For details see OECD (2001c), OECD (2002a), OECD (2002b), OECD (2003a).
The regional context Entrepreneurial culture – a local culture supportive of entrepreneurial activities, with successful role models and cooperation among local stakeholders to promote such activities ● Qualified manpower – a good supply of human resources at various levels of skills and qualifications, and the institutions (universities, post-secondary technical institutions) needed to provide that training ● Quality of life – provision of attractive quality of life amenities to researchers, professionals and their families ● Lower cost of doing business – availability of low cost labor (graduate students, faculty consultants and so on), low cost utilities, affordable cost of living, low raw material and transaction costs.
2e) that most of the funds are directed to later stage investments, which captured more than two thirds of the disbursements. Capital for company expansion attracted by far the most investor interest. 2 The Federal System of Innovation The US national R&D and innovation system consists of a wide variety of institutions and activities located in industry, universities, government, and non-profit organizations. Federal R&D has traditionally been performed by three sectors: the government itself, universities and industry.