1.

How might governments or companies go about encouraging the creation of

innovation hubs in a specific region?

Innovation hubs in a specific region are a location also of a network of R&D clusters
wherein a company hopes to grow its business. For governments or companies go about
encouraging the creation of innovation hubs in a specific region, they may present the
effects of this, especially to the working and business community because employees will
be exposed to new ideas, and knowledge “spills over” during the everyday interactions of
employees, university professors, and students. Governments, despite the systematic
differences among regions because of the level of innovation, can encourage innovation
by supporting the pillars that enable innovation. Some of these are Institutions, Human
Capacity, General and ICT (information and communication technology) Infrastructure,
Market sophistication, and Business Sophistication. Furthermore, companies can
contribute to this initiative by highlighting proximity the attracts the best workers and
stimulates innovation through the cross-pollination of ideas