Innovation Reefs (I-Reef): Innovation Ecosystems Focused on Regional Sustainable Development

Abstract

The creation of successful innovation ecosystems, like Silicon Valley, is challenging due to significant cultural, infrastructural, and resource differences between regions. In this context, the Innovation Reef (I-Reef) model emerges as a promising alternative, offering an approach for regions with limited resources to develop successful innovation ecosystems based on cooperation and mutual benefit among participants. This model has great potential to promote regional development, especially due to its focus on retaining and sharing the value generated. However, the role of I-Reef in sustainable regional development still needs to be further explored. Thus, the objective of this study is to deepen the theoretical understanding of the I-Reef model by analyzing its contribution to sustainable development. To achieve this, a comparison was made between I-Reef and established models such as business, innovation, knowledge, and entrepreneurial ecosystems. A systematic literature review conducted on Scopus found 704 articles published in the last three decades. The purpose was to identify the similarities and differences between the models of innovation business ecosystem models. The results show that there is alignment between I-Reef and the different ecosystems on several points. A central aspect of I-Reef is that it relies on a strong network of mutually beneficial relationships, much more oriented to sustainable development than the other models, which is a key factor in generating competitive advantage and development for the region. This characteristic is either not addressed or not placed at the core of the ecosystems discussed in the literature. For future research, empirical studies and validation of the I-Reef model with experts are suggested, as this theoretical study lays the foundation for more in-depth analyses.