A new white paper has just been made available that lays out a road map for evaluating Regional Innovation and using Value Network Analysis as a method for activating regional innovation networks and the networks that support their success. This approach is being adopted by regional development agencies in Europe, Scandinavia, the U.S., and the Caribbean. Based on ground breaking work with the European Commission in 2007, the methodology has already proven powerful and effective for redirecting strategies and resources.

The basic goal of this approach is to better understand how a regional innovation value network is “activated” in different stages of innovation. Some organizations may be involved in multiple roles, and even though they may be active in more than one stage their roles may be different in different stages. Evaluating regional innovation with a value network perspective:

• Provides an expanded foundation for assessing regional innovation capacity and the effectiveness of the regional innovation system.
• Develops value network indicators to assess the health and vitality of regional innovation systems and to link innovation system behaviors to regional economic and Intellectual Capital (IC) indicators.
• Provides a powerful visual language for engaging critical stakeholders, fostering connective tissue, and improving innovation capacity at the regional level.
• Defines the requirements for continuous monitoring and evaluation of innovation regional value networks.

Also available is an academic article authored by Verna Allee and Oliver Scwabe describing the theory base for this approach

Judith McCrory, Senior Analyst with ValueNetworks.com will present "Four Value Network Patterns to Acclerate Time from Ideation to Commericalization at the conference on The Future of Innovation in Vienna, Austria on 21-24 June 2009. Organised by ISPIM, hosted by The Austrian Federal Economic Chamber, and supported by DANUBE - European Programmes for Training, Research and Technology and Ratio Strategy & Innovation Consulting, this conference will bring together academics, business leaders, consultants and other professionals involved in innovation management.

The most common conceptualization of innovation is that it is a business function and management process that requires specific tools and practices. Thus innovation research and literature typically adopts the process view of business activities that has dominated management literature and practice for over two decades. More recently a network based view of innovation has gained support  - particularly R&D networks, supported by a solid body of evidence that networks and industry clusters within regions can accelerate the growth of specific industries. The presentation draws upon recent and current projcts with regional innovation networks to demonstrate that value network analysis (VNA) can bring useful insights into the dynamics of innovation from ideation through to commercialization. McCrory describes four value network patterns or "archetypes" whereby innovation can be understood as "phase changes" of a value network. The network is activated differently in these four phases even though some roles may stay the same throughout. Significantly at the levels of organisation, network, and region, value network patterns can be linked to specific patterns or 'thumbprints' of anticipated Intellectual Capital formation and macroeconomic indicators.

Value network analysis as applied to innovation from ideation to commercialization provides a possible solution to one of the most challenging business issues in the intangibles economy: describing exactly how intangible assets such as intellectual capital are converted into ideas and other deliverables deployed in purposeful networks to create economic or social value. The ability to visualize, analyze and optimize innovation networks is of great value to both government bodies responsible for regional development and for commercial businesses seeking to bring innovations to market. Specifically making the transition from one phase or "state" of the innovation network to another is often problematic. As additional roles come into play the nature of the interactions change across the entire network. Innovation networks are increasingly complex and relationships must be maintained in some cases for several years. Supporting the integrity and continuity of an innovation network is critical to success.

The Future of Innovation - will be held in Vienna, Austria on 21-24 June 2009. Organised by ISPIM, hosted by The Austrian Federal Economic Chamber, and supported by DANUBE - European Programmes for Training, Research and Technology and Ratio Strategy & Innovation Consulting, this conference will bring together academics, business leaders, consultants and other professionals involved in innovation management. The conference format will include facilitated themed sessions for academic and practitioner presentations together with interactive workshops and discussion panels. Additionally, the conference will provide excellent networking opportunities together with a taste of local Viennese culture.

The ISPIM 2009 Conference will be held along side The R&D Management Conference 2009 allowing delegates to move freely between conferences and connecting the ISPIM and R&D Management networks.