Richard Florida Explains Why Density Doesn't Impact Innovation

Last Wednesday , I mentioned that the Orkney Islands were a hot spot of innovation many moons ago. This weekend, the Financial Times picks up on the same story: ”But why such a remote spot became Britain’s hotbed of cultural innovation 5,000 years ago remains a mystery .” On Thursday, Richard Florida pre-emptively solved the mystery : Large companies, universities, and other anchor institutions help spread the fixed costs of research (think buildings, suppliers, etc.). And by massing large numbers of research and development workers together in large organizations, they give the capacity to capitalize on new inventions. The authors argue that the presence of just one large-scale firm can be a huge advantage in providing the institutional heft behind a fledgling innovative economy. But these big companies tend to focus on things that relate to their existing products and ma...

Full article: http://sustainablecitiescollective.com/jim-russell/214146...

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