Regional Development and Innovation Professor Pasi Malinen, D.Sc. BID Business Innovation and UTU

Why Bother? Universities as creators of new knowledge Universities have been identified as engines for regional growth International collaboration Externally funded activities (research, education, business development) Learning, development Relevance increase (3G University)

The Role of Universities Sustained competitiveness in the global economy will depend on technological or innovation-based strengths, including Development of new products/services Accessing successfully new markets Applying new technology Incorporating best practice in the management of enterprises Developing skill levels across the full spectrum of the labour force

The Role of Universities Creating and enhancing job opportunities Creators of new technology-based firms Technology transfer Provision of technical facilities for local businesses Development of entrepreneurial graduates Attracting businesses to the area

Partners University of Turku, lead partner (prof. Pasi Malinen) Pskov State University University of Latvia, Riga University of Tartu FINEC

Aims – SUSTAINABILITY!!! Triple Helix approach (University-Industry- Government) Development of University as an engine for regional development Development activities for new business formation (opportunity recognition – idea development – incubation activities – business support – growth) Cross-border development Increasing student entrepreneurship activities

Triple Helix Approach Science Park/similar activity development formation in the region Business development support activities in Pskov region Initiatives for entrepreneurship and innovation University-industry-government round tables Common strategy seminars New venture development activities New venture financing activities

Development of University as an Engine for Regional Development The qualitative and quantitative output of Pskov State University for the region University-industry collaboration development – Awareness raising – Seminars, workshops – Collaborative research/projects/training – Student actions (BOOST) Awareness raising activities of university actions towards new business creation – To business and public sector leaders in the Pskov region – Inside the university Business Development Laboratory as a tool (an example)

Development Activities for New Business Formation Opportunity recognition (cases, seminars, training,…) Idea development (cases, seminars, training,…) Incubation/acceleration activities (developing existing activities, building new models for supporting new business formation) Business Development Laboratory (using students and experts in developing existing business ideas) New venture risk-financing (exploring what is available in the region, country, and cross-border + EU) New venture growth development actions (seminars, workshops)

Cross-border Development Project partners organise seminars and workshops to explore cross-border business development possibilities Student networking through student entrepreneurship development activities with neighbouring countries (lead by BOOST) in the Baltic Sea Region Exploring existing business development activities in neighbouring countries that could be transferred to Pskov region (best practise) Exploring all potential EU/other relevant support organisations for cross-border development

Increasing Student Entrepreneurship Activities Lead by BOOST Turku Entrepreneurial Society Students organising student entrepreneurial activities Includes seminars, workshops, existing promotional material Cross-border activities in the long run Networking with other student entrepreneurship societies in Baltic Sea Region Networking with global student entrepreneurship societies Part of the innovation & entrepreneurship curricula!

Activities – SUSTAINABILITY!!! Surveys Seminars Workshops Summerschool(s) Cross-border actions, networking of actors Business support development actions (Science Parks, incubators, Business Development Lab etc.) Final report

“Anyone who has never made a mistake has never tried anything new.” “Imagination is more important than knowledge.” “Any intelligent fool can make things bigger and more complex. It takes a touch of genius - and a lot of courage to move in the opposite direction.”