Rural areas’ development and competitiveness through innovation ecosystems

Abstract

The development of rural areas over the years has been raised as a problematic issue for many countries around the world. Different approaches are applied to solve that issue. One of them, currently, refers to the establishment of regional innovation ecosystems (RIEs). RIEs are complex systems involving multiple actors and resources to drive innovation and play crucial role in promoting sustainable economic development. Understanding the different types, traits, functions, and impact of RIEs can help policymakers and practitioners design targeted interventions and strategies for rural areas. The objective of the study is to explore the advantages of RIEs and their impact on the acceleration of development and improvement of competitiveness of rural regions. The study is conducted by the method of desk research. It aims to examine different types and functions of RIEs as a means to mobilise rural areas’ growth, potential and their role as a catalyst of competitiveness. As a result, a classification of Innovation ecosystems and of Regional Innovation ecosystems were developed. It was found that RIEs are capable of enhancing the competitiveness of rural regions by promoting economic diversification, driving innovation and productivity, facilitating access to markets and networks, attracting and retaining talent, providing business support and resources, contributing to branding and marketing efforts, and fostering collaboration and collective impact.