Value Creation and Commercialization in Insular Ecosystems

2. Insular Innovation Ecosystems

The globalization of innovation networks is a recent trend that significantly influences local innovation clusters and regional innovation systems (Komninos, 2009). Social and economic relations intensified by linking remote regions (Giddens, 2013). These relationships were also beneficial in R&D and innovation, where the ability to coordinate networks and transactions in real time on a global scale was achieved (Castells, 2000).