Innovation Hubs Research Articles

Rubtsovo-Semey cluster of Russian-Kazakh economic cooperation in China's strategic initiative "One Belt One Road"

The article is devoted to the search for opportunities for reindustrialization of depressed border ultracontinental territories in the context of the implementation of China's strategic initiative "One Belt One Road". The purpose of the study is to find ways to restore and develop economic ties between two border regions – the Altai Territory in the Russian Federation and East Kazakhstan, as the hypothesis of the study is the possibility of increasing the effectiveness of their joint activities. The object of research in the article is the cross-border area between Rubtsovsk and Semey and their adjacent territories. On the basis of a system-dialectical approach, the possibilities of creating a Rubtsovo-Semey industrial and innovative hub within the Altai Territory and the East Kazakhstan region are analyzed. The authors conclude that such cooperation can open up new opportunities for industries producing resource-intensive consumer goods, given the traditional ties and proximity of cultures of the population living here. The article defines the specialization of territories and the existing level of interaction between regions. The authors substantiate the sectors of the economy that are promising for development in the cluster. The role of Turksib for the reindustrialization of depressed cross-border territories is shown. A concept for the development of a future cross-border industrial cluster is proposed, which is one of the scientific results of the study.

From childish things: the evolving sandbox approach in the EU’s regulation of financial technology

ABSTRACT The background to this article is the seeming revival of a sandbox approach to FinTech regulation within the EU, as epitomised by legislative initiatives on AI and DLT. The article contributes to existing literature on the topic by highlighting how the current design of sandboxes is not being informed by sufficiently comprehensive empirical evidence from international examples. As well as examining relevant provisions of the European Commission’s proposals on AI sandboxes and introduction of a DLT pilot regime, the article refers to UK and Australian examples to demonstrate the varying features of sandboxes. Even if there is continued ambiguity as to the characteristics of sandboxes, broader regulatory supports, such as innovation hubs, can be vital. However, this should not diminish the need for improved clarity and transparency on sandboxes’ operations. The ability to make necessary refinements will determine how the EU’s regulatory approach to FinTech generally will evolve.

Corporate Governance Dimension and Return on Assets: Evidence from the Nigerian Health Care Sector

The healthcare sector in Nigeria continues to be a hub of innovation, drawing global attention due to its complex and inventive approach in delivering life-improving products and services that cater to diverse healthcare needs. However, the integration of these innovations demands substantial investments, a venture made viable only through effective corporate governance strategies. This research delves into the impact of corporate governance on the returns generated from assets within several healthcare companies listed on the Nigerian Stock Exchange (NSE). Focusing on ten healthcare companies listed on the NSE, this study employs an ex-post facto research methodology. Secondary data sourced from various references are subjected to analysis using the generalized least squares (GLS) regression method. The outcomes of the analysis distinctly demonstrate that the facets of corporate governance exert a palpable influence on the asset returns of the chosen healthcare enterprises. The findings underscore the pivotal role of corporate governance in influencing companies' asset returns. In light of these outcomes, it is deduced that a substantial correlation exists between corporate governance practices and companies' asset returns. Consequently, it is strongly suggested that healthcare enterprises diligently adhere to the principles of corporate governance to augment their profitability in both immediate and enduring contexts. Keywords: Board gender diversity, Board independence, Board size, corporate governance, External audit quality, Return on assets.

Urban livelihoods beyond industrial ruins : the birth of an informal night-time economy in Norton, Zimbabwe

This paper focuses on Norton town, Zimbabwe, which was left in ruins after its industry succumbed to deindustrialisation as key industries closed. With rising unemployment and urban poverty, residents innovated and devised alternative livelihood strategies. This study explores several informal and innovative night-time economic activities : night vending, home-based industries, informal fishing, sand and quarry mining, transport, and the night-time leisure economy, among others that residents in Norton adopted. It unpacks the organisation of these activities and the logics behind going nocturnal. For their courage and ability to re-invent their livelihoods, we present the residents using the lens of Long’s Actor-oriented theory by framing them as social actors and agents of change working hard to find solutions to their challenges. Data was collected using ethnographic methods of interviews, night-time observations, and informal conversations. Our results show that Norton became a nocturnal hub of informal entrepreneurial innovation and creativity. This was a result of governance factors, due to daytime load-shedding (energy cuts), night-time leisure activities and as a way of working hard to survive in a difficult economic environment.

РОЛЬ ПОЛІФУНКЦІОНАЛЬНИХ ОБ'ЄКТІВ АКВАКУЛЬТУРИ В РОЗВИТКУ ЛОКАЛЬНИХ РИНКІВ

The article delves into the comprehensive perspective of multifunctional aquaculture facilities, going beyond their traditional role and shedding light on their diverse functions. These facilities are not just mere fish farms; they are envisioned as versatile establishments that serve as scientific and educational centers, eye-catching decorative attractions, and self-sustaining circular production sites. By embracing this multifaceted approach, aquaculture facilities can become innovative and recreational hubs, playing a pivotal role in economic development, knowledge dissemination, and the production of locally sourced goods. A key focal point of the article is the pressing need to explore new directions for aquaculture development within the broader context of marine strategies and Sustainable Development Goals. This exploration aims to tackle the detrimental effects of water pollution, which often stem from military activities. To address these challenges, the establishment of marine gardens is proposed as an inclusive solution that not only mitigates pollution but also generates sustainable income for vulnerable local communities. Moreover, the article highlights the positive impact of marine horticulture on local markets, underscoring its potential to enhance market functionality. Specifically, the concept of designated land plots with small local markets emerges as an additional source of revenue for the local budget through plot rentals and market equipment. By introducing marine gardens, a harmonious balance can be struck between economic development and the improvement of the local population's quality of life. The research presented in the article offers scientific novelty through the author's proposal of a conceptual vision for multifunctional aquaculture facilities. This vision goes beyond conventional perspectives, emphasizing the facilities' potential as innovative and recreational centers that create employment opportunities and foster local economic growth. By considering socio-ecological and economic motivational mechanisms and effects, the author explores uncharted territory, shedding new light on previously unexplored aspects of aquaculture's multifunctionality.

Bridging the Gap between Curriculum Theory and Industrial Innovation Practice in Kenya

The aim of this paper was to highlight the existing gap between theoretical knowledge acquired by college and university students and the needs of a real-world industry. The paper investigated the limitations of the current curriculum in terms of its ability to provide students with critical thinking skills and hands-on practical experiences that would make graduates competent enough for the current industrial innovative needs. The study was conducted through a review of the existing literature including policy papers, journal articles, and research papers on the Kenyan curriculum and its suitability to prepare students for the job market. The paper proposes a review of the curriculum to incorporate industrial skills training in academic institutions through attachments and internships, collaboration with industry professionals, creation of innovation and incubation hubs, simulation labs, etc. The intended outcomes of these recommendations are that they will provide students with the required skills and hands-on practical experience, that would make them competent enough for the job industry, and contribute to the socioeconomic development of Kenya.

A Reflection Approach on Business Incubation Services: Accelerating Startup Businesses in Kenya

The focus of this study was to determine how business incubation services accelerate the growth of start-ups in Nairobi City County, Kenya. The specific objectives were to examine the effect of networking services, physical incubation infrastructure, management advice, financial resources, and business planning on the growth of startups. The theories of the firm, stochastic theory, social network theory, real option theory and trait theory of entrepreneurship anchored the study variables. A descriptive research design was used, and a sample of 227 respondents was selected using proportionate stratified and simple random sampling techniques from a target population of 567 startups that had been in an incubation process. A questionnaire was used to collect primary data, and the data was analyzed using descriptive and regression statistical techniques. The findings indicated that there was a significant and positive relationship between networking services, physical infrastructure, management advice, financial resources, and business planning and the growth of startups. In order to have access to physical infrastructure, startups are encouraged to join startup associations like the Association of Startups and SME Enablers of Kenya, the Association of Countrywide Innovation Hubs, and other independent incubation facilities. A clear act governing startups can offer tax incentives to startups, reducing costs in the form of financing and providing tax breaks to startup investors, improving their financial standing. Incubator owners are encouraged to take startups through business planning courses that are critical to ensuring they scale up their businesses. Finally, through the triple helix model, business incubators can partner with universities and government agencies to create synergy instead of competing among themselves.

Experience of the global fintech market: opportunities and threats for Ukraine

Introduction. In recent years, FinTechs have gained significant popularity in the world, as they open new opportunities for consumers to obtain remote access to a number of services in various fields. That is why it is relevant to determine the ways of development of the domestic innovative financial market, ways of establishing a strategic partnership of its stakeholders with key participants of the financial sector. Purpose. The purpose of the article is to study the foreign experience of using FinTech; identifying the advantages and disadvantages of using FinTech; study of the dynamics of the main parameters that characterize the development of FinTech; study of the prerequisites for the transformation of the domestic market in the conditions of the development of the digital economy. Method (methodology). The theoretical and methodological basis for the research was modern concepts, as well as the scientific achievements of domestic and foreign scientists in the field of innovations and the development of innovative digital technologies. The study of the essence of scientific categories, the analysis of statistical and analytical data was carried out using the methods of scientific abstraction, terminological and comparative analysis and synthesis; system-functional and functional-structural methods were used to study the relationships between economic parameters. Results. The article examines the interpretation of the definition "digitalization", summarizes the advantages and disadvantages of digitalization from the point of view of business entities, and identifies categories of digital products. The evaluation of the state of the modern global FinTech market deserves attention, in particular the determination of the dynamics of income of the Top-10 FinTech companies, the dynamics of the distribution of income of the TOP-10 FinTech companies by country of origin, the dynamics of the share of income of the TOP-10 FinTech companies in the total income of the FinTech industry , the dynamics of the distribution of FinTech investments by world region and the dynamics of the number of FinTech deals by world region over the past 5 years. The study of the dynamics of the TOP-10 values of DESI (Digital Economy and Society Index) across the EU member states made it possible to determine progress/regression in their digital development, identify obstacles to the development of FinTech on the European market, and formulate recommendations for their elimination. The conducted research provided us with information for forming conclusions regarding the prospects for the expansion of the FinTech ecosystem in Ukraine, as a potential innovation hub of Europe.

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 111 Developing a Medical Device Prototype for Plantar Intrinsic Muscle

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 111 Developing a Medical Device Prototype for Plantar Intrinsic Muscle

The new Future of Surgery Innovation Hub needs your help

Our Editor discusses the new Future of Surgery Innovation Hub, and how the College is pioneering the advancement of surgical training.

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 7 Designing and testing of RK spinal mobilization device to improve spinal joint range of motion (JROM)

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 7 Designing and testing of RK spinal mobilization device to improve spinal joint range of motion (JROM)

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 112 Ideation to Prototype design: Breath training device

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 112 Ideation to Prototype design: Breath training device

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 112 Ideation to Prototype design: Breath training device

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 112 Ideation to Prototype design: Breath training device

How to design (and assemble) a Pavilion. Mastercard's Tourism Innovation Hub experience

How to design (and assemble) a Pavilion. Mastercard's Tourism Innovation Hub experience

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 7 Designing and testing of RK spinal mobilization device to improve spinal joint range of motion (JROM)

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 7 Designing and testing of RK spinal mobilization device to improve spinal joint range of motion (JROM)

On the Harmonic Innovation Hub: how the transition should be accompanied toward a new paradigm

The Harmonic Innovation Hub being launched in Catanzaro is not an object or a model, but rather the concrete implementation of a futuristic vision of the business world, and as engaging as it is risky.This paper presents some elements relating to this reality and its operation; first and foremost, it illustrates the innovating drive of those who have spent their lives imagining new scenarios and their own resources, seeking to make them concrete and usable.Finally, some ideas on the possible connections with the manufacturing industry complete the overview of the experience the Hub is gaining, which could revolutionise the production context in the region and beyond.

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 114 Concept and design of new device to reduce stress on CMC joint of thumb due to prolonged use of smartphone

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 114 Concept and design of new device to reduce stress on CMC joint of thumb due to prolonged use of smartphone

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 114 Concept and design of new device to reduce stress on CMC joint of thumb due to prolonged use of smartphone

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 114 Concept and design of new device to reduce stress on CMC joint of thumb due to prolonged use of smartphone

Urban transport in the EU Mission on Climate Neutral and Smart Cities: preliminary data from applicants’ expressions of interest

The EU Mission on Climate Neutral and Smart Cities is an ambitious initiative to involve a wide range of stakeholders and deliver 100 climate-neutral and smart cities by 2030. These cities will act as experimentation and innovation hubs to enable all European cities to follow suit by 2050. The results from the expressions of interest suggest that the Mission's objectives are shared by a significant number of cities: 314 EU cities (representing 18% of EU population) plus 48 non-EU cities declared their ambition and preparedness to become climate neutral. Transport is a key sector to address, with the overwhelming majority of applicant cities setting specific targets and policy measures. Electrification of urban transport appears as the main approach towards decarbonization. Nevertheless, the required investments and the repercussion on the citizens’ costs for mobility are major concerns.

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 111 Developing a Medical Device Prototype for Plantar Intrinsic Muscle

Day II: Friday, March 24, 2023; 11.15 am Plumeria 1 (Exhibition Hall): Innovation Hub Display time: 9.00 am to 5.00 pm: AB No: 111 Developing a Medical Device Prototype for Plantar Intrinsic Muscle