A systemic approach to innovation: a regional competitive advantage

Companies, which are the drivers of economic development, should operate under special industrial, social, and environmental conditions that enable them to carry out their business activities in an optimal manner. If these proper conditions are not in place in a region, there can be no sustainable development. This is evident in emerging countries where there are no factors, or business or political will to take advantage of the impact of innovation on the economic, social, and environmental development of these regions. This document proposes a mechanism to rethink the impact of innovation on economic business activity that depends on the structure of not only its political, social, and environmental ecosystem, but also of the democratization of these kinds of initiatives in order to generate holistic regional development for all.