Intangible Capital Authors to Help State of Washington Build Its Innovation Ecosystem
The Washington Economic Development Commission has invited Intangible Capital authors Mary Adams and Michael Oleksak to lead an exercise to help the state’s key regions to map and improve their innovation ecosystems. The exercise will take place at next week’s Regional Innovation and Jobs Summit in Tacoma, Washington.
The innovation ecosystem of any group or organization is its intangible capital:
- Human Capital: the knowledge, competencies and experience of its people
- Structural Capital: the knowledge, intellectual property, culture, processes and infrastructure of its organizations
- Relationship Capital: the knowledge, connections and access to external networks of people, partners and organizations
Innovation is the new strategy of the knowledge era. Innovation is a bottom-up exercise that contrasts with the top-down approach often taken to strategic planning in the past. That’s why it is especially compelling to engage the stakeholders in a group (region, cluster, organization) in the process of developing both the innovation ecosystem and the innovation process.
This thinking will be used to help stakeholders from the key regional clusters in the state think about what they have, how it works and how it could be improved.
We’ll share more about the exercise after it is completed next week.
