1.2.4 Summary of key points

The major aim of the present component was to improve your insights and knowledge on the main innovation assets of the innovation based-economic development model. We have understood that innovation and local development are two notions which are very closely related to each other. In addition we explained how the interaction of the main innovative assets in a community results in benefits and positives to local economies and the quality of life. We learned about the importance of the various local actors that interconnect with each other in order to create the local innovation system. We have looked into the insights of the members of this system and in specific in the local businesses that play the most important part in it. By bringing together all of the above mentioned and describing them in detailed you will be able to better understand the local innovation environment and the way it operates in the local community.