Enablers of successful innovation precincts

Abstract

Governments worldwide are increasingly focused on promoting innovation activity to generate much needed economic growth. Innovation precincts are seen as providing the strategic opportunity to leapfrog economies and deliver a future competitive advantage. However, there are limited insights into how innovation activity in precincts takes place. In particular, the factors that enable successful innovation precincts, how they are measured and how their locations influence improved economic outcomes. This paper presents an analysis of the important enablers of innovation precincts, with a focus on measuring the relative importance of these enablers and their contribution to innovation and economic outcomes. A novel mixed-methods approach involving the use of a ‘double-blind doubled-scoring’ methodology and analytical hierarchy process (AHP) are applied to score and determine the relative importance of enablers of innovation precincts.