Branding Innovation : How to successfully build the brand of a regional innovation system

• Main Author: Linnarsson, Kajsa
• Format: Others
• Language: English
• Published: Högskolan i Gävle, Institutionen för ekonomi 2009
• Subjects: innovation system; branding; cluster; regional; Business studies; Företagsekonomi
• Online Access: http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-4661

Around the world, regions are developing their knowledge-based assets in order to stay competitive in today's global economy. Europe alone is home to more than a thousand cluster initiatives. There are an overwhelming number of innovative regions and "valleys" competing to become the place to live and do business within a particular field. In this highly competitive environment, marketing directors and innovation system executives must develop and execute a well conceived branding strategy in order to survive and thrive.      Regional innovation systems are complex constructions often involving a variety of clusters, agendas and business models across a large number of partners from the business world, academia and society, each with their own best interest at heart. Unlike a company with a business idea and a range of products, an innovation system encompasses a multitude of business ideas and offerings that, when taken in the aggregate, are often abstract in nature.      The purpose of this study is to address some common challenges when building the brand of a regional innovation system and attempt to identify some possible solutions for how to successfully overcome those challenges. In doing so, a selection of eight experts and practitioners in the field of regional innovation systems have been interviewed.        The four most important challenges in the branding of regional innovation systems are converting interested bystanders into committed stakeholders, juggling the brands of multiple stakeholders, communicating the complex subject of innovation and technology, and building and maintaining brand trust in a localized, close-knit environment.       The findings in this report suggest that branding an innovation system requires a unique approach - different branding channels and skill sets - compared to traditional product branding.  As a result I recommend that regional innovation systems focus on four major brand strategies: setting and managing brand expectations, ambassador development, creating a Branded Warehouse, and storytelling.              First in setting and managing brand expectations, it is important to communicate clearly so that potential members understand what the initiative is all about and why they should be excited about it. Paint a vision specific enough to drive interest but not so specific that members feel they have no input into the mission. Once consensus has been reached it's important to manage the different brand expectations so that all members are satified.       Suitable champions on a regional, national and international level can act as ambassadors of the regional innovation system, spreading the brand message in the right networks by the power of their own individual credibility. Brand managers should work proactively with the board to leverage their networks to the greatest extent possible.      The findings in this paper suggest that the best approach for juggling multiple brands may be a Branded Warehouse model where a strong branded house is just as important to the success of the initiative as the strength of the brands inside that house.      Identifying, creating and spreading the narratives that define the brand help people grasp the complex subject of a regional innovation system. For spreading the brand message both within and outside of the region, the media and ambassadors are unrivaled tools.