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Taking into Account the Human Factor in Regional Innovation Systems and Policies

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  • G. Martinidis

    (Aristotle University of Thessaloniki)

  • N. Komninos

    (Aristotle University of Thessaloniki)

  • E. Carayannis

    (George Washington University School of Business)

Abstract

Innovation is considered a key driver for economic growth and is usually studied in the form of systems, with the regional level being arguably the most important. Despite constantly improving technological infrastructure, the human-related aspects of innovation are still the most important part of the innovation process. The human factor in innovation essentially consists of three components: (1) human capital, which refers to education, knowledge, and skills; (2) social capital, which refers to the strength of social links and social coherence; and (3) psychological capital, which refers to peoples’ values, attitudes, and behaviors. The research findings confirmed this view and showed which specific indicators of the three types of capital had a significant impact on innovation output. A new, extended regional innovation scoreboard emphasizing the human factor, is proposed. Also, based on the findings, and bearing in mind current EU innovation policies, a number of measures are proposed in order to suggest “more human” smart specialization policies in order to increase innovation in European regions and coherence between them.

Suggested Citation

  • G. Martinidis & N. Komninos & E. Carayannis, 2022. "Taking into Account the Human Factor in Regional Innovation Systems and Policies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 849-879, June.
    • Handle: RePEc:spr:jknowl:v:13:y:2022:i:2:d:10.1007_s13132-021-00722-z
    DOI: 10.1007/s13132-021-00722-z
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