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Showing posts with the label living labs

Growing Small Business and the Economy Through Clustering

Small and medium businesses have difficulty getting past a critical threshold that allows them to grow in the market. Helping them collaborate with like-minded businesses helps their growth potential. A paper by Dhakal, et. al. (2013) discusses an open-innovation concept of living labs that allows stakeholders and customers to engage in the co-creation process together. They studied a cluster in Australia to show how this enhances business development and the economic engine.   A living lab is a user-centered open innovation ecosystem (Hippel, 1986).   It uses modern technology to foster communication between stakeholders and customers to co-develop products.   The natural environment becomes the testing grounds for new products and services and this allows users to offer feedback on the success of changes and provide ideas on how to improve on the products and services.  It provides a collaborative space (virtual or physical) that distributes problem-solving tools, capacit