Drivers of the innovation system and role of knowledge application in regional innovation system - case Oulu region, Finland

In the northern periphery, actions are needed to support regional economic development. According to widely shared understanding, innovations are at the core of sustainable economic growth. The regional innovation system (RIS) approach is a framework that has been developed for the design and implementation of innovation-based regional policies. This concept implicates new roles for public and private actors in the system. The role of the public sector is related to generating and diffusing knowledge to the companies and industrial networks. On the other hand, companies have increased collaboration with other actors and utilization of external knowledge for innovation and commercial purposes. The case analysis in this study is based on data from experiments in Oulu region, Finland, which has a long history in developing public-private collaboration and innovation system. The focus of the analysis is on knowledge application and exploitation, and their implications for the public driven innovation system and activities. Operational tools and activities are divided into three different categories: company collaboration, business development, and competence development. The analysis also reveals some examples of the future prospects and challenges in the region.