Current Trends and Management Challenges of Developing the Living Labs

Economics and Culture, 2015

11 Pages Posted: 15 Sep 2017

See all articles by Venelin Terziev

Venelin Terziev

Georgi Rakovski Military Academy, Sofia, Bulgaria

Ekaterina Arabska

University of Agribusiness and Rural Development; Vasil Levski National Military University; Innovations and Sustainability Academy

Date Written: 2015

Abstract

In years of extensive discussions on how to improve business environment, build knowledge-based societies and raise competitiveness, the concept ‘living labs’ – open innovation intermediaries, applying to demand-driven and user-centric approaches, is one of the most promising in the innovation lifecycle. The last one embraces various processes in creating ideas, design, development, validation and transfer of new products, services or technology into practice, and is implicated in living labs by user-driven innovation processes, decreasing investment risks and assuring greater efficiency and sustainability. The shift to communities as co-creators of innovations is considered from the point of view of knowledge management, smart specialization and sustainable development goals. The paper investigates the establishment and distribution of living labs under conditions of open international markets and fast development of ICT as a type of pro-innovation structures, which have been expanding worldwide over recent years but still need effective framework in management. The study examines the members’ profiles of the European Network of Living Labs (ENoLL) focusing on different aspects of organization and functioning and seeking a common description and general characteristics. Some very important development trends and challenges are discussed in the light of providing effective management and sustainability. Recommendations are given regarding the principles of functioning and internal rules of management, by paying special attention to planning and monitoring.

Keywords: innovation, knowledge-based economy, demand-driven approach, competitiveness

JEL Classification: M21

Suggested Citation

Terziev, Venelin and Arabska, Ekaterina, Current Trends and Management Challenges of Developing the Living Labs (2015). Economics and Culture, 2015, Available at SSRN: https://ssrn.com/abstract=3034969

Venelin Terziev (Contact Author)

Georgi Rakovski Military Academy, Sofia, Bulgaria ( email )

Sofia, 1000
Bulgaria

Ekaterina Arabska

University of Agribusiness and Rural Development ( email )

78, Dunav Blvd.
Plovdiv, Plovdiv 4003
Bulgaria

Vasil Levski National Military University ( email )

Veliko Tarnovo
Bulgaria

Innovations and Sustainability Academy ( email )

1, Lotos Str.
Plovdiv, 4006
Bulgaria

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