Democratizing Innovation. A Geo-Entrepreneurial Analysis and Approach Through the Company Democracy Model

Abstract

Even that thinking, and innovative thinking, in particular, is supposed to be borderless and unbiased, it seems that most of the innovations globally derive from regions that have built a brand name on it. This limits the opportunities to bright ideas form bright people outside the innovation hubs, resulting in a general loss of intellectual capital for the global economy. This paper aims to democratize innovation by redefining geo-entrepreneurship through a reverse innovation framework that exposes the hidden intellectual capital around the world, evaluates innovation drives and opportunities and empowers the development, commercialization and utilization of innovation. Based on the Company Democracy Model the proposed framework impacts reversely national brain-drain contributes to innovation scouting, strategic partnerships, and redistributes success opportunities. This geo-entrepreneurial approach identifies innovation potential globally, reduces inequalities among all those who can and want to create opportunities regardless of where innovation takes place and by whom.

Bilateral Knowledge-Sharing for New Product Development Under the UN Sustainable Development Goals

“…Further research can also be directed on the differences between emerging and developing countries, and how those impact the suggested solutions. Lastly, more emphasis can be given to the proposed model to integrate the reverse innovation as an alternative way to utilize the local intellectual capital for new products and services that could be exported from the emerging countries to the western world through the MNCs [16]. This can potentially move the organization towards the concept geo-entrepreneurship where MNCs can innovate on different areas based on the expertise that exists in each country [17].…”

Democratic Governmental Corporate Entrepreneurship for the Transformation of the Public Sector in the Balkan Region

“…Lastly, the HGCEM Model can and shall be developed from the Geo-Entrepreneurial dimension where governmental services can be outsourced or subcontracted in areas or other governments where the expertise and the willingness to deliver them innovatively exists [16].…”

Strategic Utilization of the VR and AR Technologies for the African Cultural Heritage Promotion and Management

“…This development was achieved as Egypt attracted partners instead of investors that utilized its human resources and technological readiness. Through a digital transformation strategy initiated with the establishment of the Ministry of Information and Communication Technology, the development trajectory of the country increased exponentially [7]. This was achieved mainly from two key projects launched by the Ministry of ICT.…”