How was this definition developed?
An extensive literature review was carried out to understand the conceptualisation of inclusive innovation. We interacted with several business leaders, policymakers, and key players in the innovation ecosystem to understand the different barriers and the need for an inclusive innovation sourcebook with different resources.
Why is it Important to understand Inclusive Innovation?
Rising economic inequality is known to have significant gender, race, ethnicity, and generational effects (Bramwell, 2021). Inclusive innovation focuses on the local ecosystem where people and their related networks serve as a primary source of innovation activity (Oksanen & Hautamäki, 2015). However, research has suggested that in most of the entrepreneurial ecosystem, access to opportunities is not equally distributed amongst all potential or nascent entrepreneurs (Brush et al., 2019). If majority of people are excluded from innovative activities, then producing a human centred solution is not always possible and outcomes of innovation will not meet the needs of people.
How is Inclusive Innovation different from other related concepts?
Social innovation is a process of collective creation that aims to achieve productivity, business competitiveness and the creation of social values. According to Echeverri (2008) it is considered an action or intervention that involves making non- orthodox changes in the production of service or goods that could be reproduced to have an impact on the well-being of part of the society (Morales 2008). However, the services or goods though impact part of the society focusing on social needs it might not necessarily be inclusive to all, differentiating it from inclusive innovation.