Innovative Ecosystems for Attracting Investment in a Post-industrial Society

The chapter is concerned with factors which can be used to utilize the advantages of international cooperation, including attracting foreign capital to joint innovative programmes. The authors justify the ecosystem approach as a methodological basis, as this, at a time of post-industrial development, allows the formation of a complex structure of support institutions in developing economies, and the implementation of innovative projects that increase the potential of these countries. The conditions for the formation of effective innovative ecosystems in Serbia are considered, taking into account the results of a comparative analysis of the economies of former Socialist Federalist Republic of Yugoslavia (SFRY) countries alongside the modern dynamics of their economic development. It is revealed that, on the one hand, global integration facilitates interaction between countries and creates the conditions for the countries to access the latest technologies, but, on the other hand, the integration of the world economy can have negative consequences for those countries considering the development of the post-industrial society. The authors suggest different forms of ecosystem interactions: contracting (including supplies to government agencies), and concession agreements, both in the form of cooperation and in the form of collaboration. The results of the research of innovative ecosystem formation include defining of its key characteristics required for attracting funding to joint projects, such as the international interaction between Serbia and Russia. The chapter concludes that the mechanisms of public-private partnerships are applicable to those ecosystems for attracting foreign investment.