Last year McKinsey partnered with the World Economic Forum to create an “Innovation Heat Map,” by identifying factors that are common to successful innovation hubs. They have examined the evolution of hundreds of such clusters around the world and analyzed over 700 variables, including those driving innovation (business environment, government and regulation, human capital, infrastructure, and local demand) along with proxies for innovation output (for example, economic value added, journal publications, patent applications) to identify trends among the success stories. Dublin came out as a small innovation cluster at that point, though the data was up to 2006.
In the process, they found patterns that suggest the critical ingredients required to grow, nurture, and sustain innovation hubs. They have compiled thousands of data points that may be used to identify bottlenecks and benchmark the performance of cities, regions, and countries by measuring how they are evolving.
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