and services and socially-connected people .
The following summarises a framework for action .
• Focus on innovation at the enterprise level , as this is key to economic prosperity , as well as being the building block for innovation in industries , sectors and clusters and for innovative places , regions and local government areas .
• Prioritise demand-led and humancentred innovation , as opposed to just increasing the supply of technology , science and research .
• Foster programs that both access market opportunities for communities and build the capabilities of local enterprises to meet this demand in a superior fashion .
• Consider the following programs to boost innovation capabilities and response to market needs : Innovation or Maker Spaces for safe business innovation experiments ; business peer learning and mentoring initiatives ; work-integrated learning projects for next generation leaders ; industry or technology roadmaps ; local procurement and supply chain projects ; and voucher or grants schemes for access to research and problem-solving resources .
• Ensure that action on innovation at enterprise level also results in social benefits for the community at large . Introduce place-based projects that intrinsically link social and economic outcomes for multiple impact .
• Balance traditional economic development projects with bold initiatives for people-led change , which give a voice to those not usually wellconnected to decision makers .
In times of adversity and disillusionment , economic development professionals can be trailblazers helping communities to take charge of their own prospects for a socially vibrant and economically prosperous future .
REFERENCES
Bessant , J . ( 2022 ), Managing Innovation : creating value from ideas , various publications and resources . See https :// www . johnbessant . org
Bessant , J . ( 2021 ), Learning into the Future , October 21st 2021 . See https :// www . johnbessant . org / post / learning-into-the-future
Burkett , I . ( 2021 ), Our Civic Innovation Mission : a conceptual framework , September 2nd 2021 , Blog , Yunus Centre , Griffith University , https :// medium . com / y-impact / our-civic-innovation-mission- 687b0451425f
Centre for Civic Innovation ( 2022 ). See www . centrecivicinnovation . org
Centre for Local Economic Strategies , ( 2022 ), Community wealth building . A guide for new council members , www . cles . org . uk
Dodgson , M . ( 2017 ), Innovation Management . A Research Overview , Routledge , London .
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Kennedy , N . ( 2022 ), The Hidden Power of Design , The Kennedy Company , Latest Thinking , https :// kennedy-company . com / 2022 / 03 / 28 / the-hiddenpower-of-design /
Nieminen , J . ( 2018 ), Innovation Management — The Ultimate Guide , viima , June 25th 2018 , https :// www . viima . com / blog / innovation-management
Reeves , R ., Tomaney , J . and Williams , K . ( 2019 ), The Everyday Economy : why it matters and how to rebuild it , London School of Economics and Political Science , April 7th 2019 , see https :// blogs . lse . ac . uk
Ries , E . ( 2011 ), The Lean Start-Up : How Constant Innovation Creates Radically Successful Businesses , Penguin .
Sandbu , M . ( 2020 ), The Economics of Belonging , Princeton University Press .
Wyckoff , A . ( 2019 ), Knowledge is growth , OECD , https :// www . oecd . org / innovation / knowledge-isgrowth . htm
ABOUT THE AUTHOR
NARELLE KENNEDY AM Narelle Kennedy AM has operated her own innovation research and consulting business , The Kennedy Company , for the last 10 years . She specialises in innovation , urban and regional development , manufacturing , and business competitiveness . Narelle is an experienced CEO , senior executive , Board director , policy analyst and researcher on both social and economic issues in government , business and the not-for-profit sectors .
Narelle is well-known as the founder and Chief Executive of the pioneering , business-backed collaborative research organisation , the Australian Business Foundation , Australia ’ s largest private sector partner and funder of industry policy and economic development research .
Narelle is Chair of the Eidos Institute Ltd , a member of Chief Executive Women and a Fellow of the Australian Institute of Company Directors . She has served on the Board of Regional Development Australia , Sydney and as an Adjunct Professor in the Business School of the University of Technology , Sydney . A recognised thought leader and commentator , Narelle was awarded a Member of the Order of Australia ( AM ) for significant service to Australian business .
VOL 15 NO 2 2022 10 www . edaustralia . com . au