The basic technologies of innovation Management:

  1. Business incubation. Contrary to the conventional opinion, the term «business incubator» has rather rough relation to real estate object. The problem that technological business incubators have to resolve can be simply formulated as: Deficit of successful technological startups. They can be attracted not by low rental fee, but by creation of efficient business environment, as well as by providing the innovation startups with the kind of services and premises that they really need. The most important service is transfer of entrepreneurial skills to the participants of innovation startups, for which experienced and well-paid business coaches are required. 

  2. Establishing the system of projects financing. Continuing financial and economic crisis has entailed serious deterioration of the situation with attraction of private venture capital. In this connection, solution of the problem of attracting financial resources requires technological parks to search for nonstandard mechanisms of attracting external financing of innovation projects and, respectively, creation of maximally comprehensive and amicable climate for the investor. The condition for origin of such climate on the one side is private-state partnership based on granting interest-free or conditionally reimbursable loans to innovation projects and, on the other side, an extremely wide choice of projects that are promising from the point of view of the investor.

  3. Establishing horizontal links between the participants of an innovation center. researchers, innovation entrepreneurs, venture investors and institutions of development. The simplest and the most obvious way to stimulate formation of horizontal links between various participants of an innovation system is gathering them under the same roof. This significantly helps create comfortable sites for communication where various participants of the innovation system could regularly intersect in course of day-today operations, get to know each other, share ideas and establish partner relations. Apart from its function of a site for communication, the innovation center should perform functions of the influencer for companies located in it. The possibility of obtaining a recommendation and of direct connection with the necessary person or organization is often not less important than financial or consultative support.

  4. Creating infrastructure of the technological park. This infrastructure should be oriented at satisfying the needs of small technological enterprises first of all and be maximally flexible: small premises that are capable of quick expansion when necessary, and compact laboratories equipped with all required communications and facilities. Outside the walls of the technological park, such premises are impossible be found for a reasonable fee in the majority of European, American or Asian cities. Territorial proximity to universities and other R&D centers may simplify the task of creating the high-quality infrastructure. Concentration of small technological companies in the same place serves as a strong magnet which afterwards attracts large rich companies.

  5. Branding and PR. Development of long-term high-risk project such as a scientific park or an innovation center to great extent depends on the expectations, which are formed in the society with regards to its results: what tasks and objectives are set to a specific technological park, what is the limit of its possibilities, direction and strategy of development. This requires constant explanatory work with mass media. Furthermore, the destiny of the innovation center practically always is the derivative of successes and misfortunes of its residents. However, at the initial stage of development of startups, while they have no their own «employment history», their perception by banks, venture companies and other counteragents is significantly determined by the reputation of the technological park where they are residents. That’s why investments into PR are never useless: they facilitate attraction of startups into the innovation center, and afterwards also of investors.

  6. Organizing the management. The main task of the innovation center is creating favorable business environment and providing services on business operation and development that are demanded by innovation companies. Only those executives can cope with this task who have the experience in doing business, as they understand which particular services are requested, and how they should be rendered. If the state, directly or via its representatives, starts influencing too strongly on management of the innovation center, high risk exists of its transformation from a center rendering services to innovation business, working on the basis of a clear business model (client – service provider), into a center for distributing the state subsidies. The task of the innovation center management company can not be the profit-making only. And just by that reason control bodies of the innovation center should possess autonomy not only from state authorities, but also from private investors and shareholders.


source: board of innovation