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Innovation needs a business-friendly, supportive environment. It requires strong connections between the individuals and organisations involved in developing new and improved products, services, processes and markets.
Although most innovation occurs in business, a range of other organisations have knowledge, skills, ideas and technology that can improve the chances of innovation being successful, or help a business avoid wasting resources in the process. They include:
For example, a dynamic creative sector can be an incubator for future entrepreneurs and innovators. Or research and development, when coupled with the commercialisation of ideas, can significantly increase the success of an innovative product.
We can also accelerate the uptake of innovation that supports a climate-resilient and regenerative economy.
Regulatory and policy settings need to promote innovation and help business. Regulatory processes should see rules applied consistently, without distracting innovative enterprise with unnecessary time and costs.
Auckland Council can enable economic development through regulation, such as:
Laws and regulations regarding copyright, intellectual property rights, and transport regulation should all contribute to a socially responsible and innovation-friendly business environment.
The Future Development Strategy addresses the supply of business land Land with business zonings where commercial and industrial activities take place. and supporting infrastructure The structures, systems and facilities that support daily life such as water supply, roads and communications, including social infrastructure. as one means of enabling innovative businesses to set up and benefit from co-location.
On the other hand, some digital industries and many start-ups can operate successfully anywhere. We must be sure that development and regulation supports both approaches.