Components of Innovation - National Research Council Canada

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Components of Innovation

A cluster develops when a pocket of innovative knowledge-based firms acts as a magnet, attracting other firms to invest and locate in the same area. These firms gain strength when supported by strong research institutions, a concentration of capital and business expertise as well as an appropriate environment in which innovation can flourish.

Clustering is a long-term process and several key ingredients must be in place to ensure its ultimate success. The cluster process must be community-driven with a well-defined technology focus, active networks and committed local champions. Importantly, clusters need a science and technology anchor, usually a government research institution or a university, able to work with local companies, transfer technology and spin off new enterprises.

In a few short years, NRC has established itself as an effective catalyst for cluster development, contributing to economic growth in communities across Canada.

Visual representation of components of innovation-Innovative Firms is in the centre of 6 elements which are: Incubation, Mentoring; Finance/Risk Capital; Skills, Human Resources; Research & Development; S&T Knowledge Tech Transfer; Policy, Regulations.