Achieving growth that generates economic value and social benefit requires a structured approach that binds an organisation’s strength and aspiration with that of its stakeholders and partners, thus creating an innovation capability that is scalable and sustainable.
An Innovation Hub presents a compelling platform for harnessing capability, focusing investment and stimulating enterprise. The key to successful innovation hub development is to cluster the organisational capability around market sectors. Clustering delivers constructive alignment between a business strategy and the innovation focus, thus improving speed of response and enhancing the quality of new offerings for the organisation. Innovation hubs can be physical or virtual and their structure and characteristics are determined by the stated need.
