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Innovation economics is a growing field of economic theory and applied/experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological but not only, into economic use.
A creative economy is based on people's use of their creative imagination to increase an idea's value.John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labour and capital.: [1] Compared to creative industries, which are limited to specific sectors, the term is used to ...
Creative entrepreneurship is the practice of setting up a business – or becoming self-employed - in one of the creative industries.The focus of the creative entrepreneur differs from that of the typical business entrepreneur or, indeed, the social entrepreneur in that they are concerned first and foremost with the creation and exploitation of creative or intellectual capital.
In general, innovation is distinguished from creativity by its emphasis on the implementation of creative ideas in an economic setting. Amabile and Pratt in 2016, drawing on the literature, distinguish between creativity ("the production of novel and useful ideas by an individual or small group of individuals working together") and innovation ...
The private sector, as the chief engine of economic activity on the planet, and a major source for creativity, innovation and entrepreneurship, must be involved in trying to achieve sustainability." Sustainopreneurship is a candidate to be the accentuating factor to give even more leverage to forces emerging from world of business activities to ...
The quintuple helix views the natural environments of society and the economy as drivers for knowledge production and innovation, thus defining socio-ecological opportunities for the knowledge society and knowledge economy, such as innovation to address sustainable development, including climate change. [25]
The creative industries refers to a range of economic activities which are concerned with the generation or exploitation of knowledge and information.They may variously also be referred to as the cultural industries (especially in Europe) [1] or the creative economy, [2] and most recently they have been denominated as the Orange Economy in Latin America and the Caribbean.
The quadruple and quintuple innovation helix framework describes university-industry-government-public-environment interactions within a knowledge economy.In innovation helix framework theory, first developed by Henry Etzkowitz and Loet Leydesdorff [1] [2] and used in innovation economics and theories of knowledge, such as the knowledge society and the knowledge economy, each sector is ...