Welsh innovation experts launch global framework for future innovation spaces
Welsh innovation experts launch global framework for future innovation spaces
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A Welsh business support organisation has unveiled a new research framework designed to define and strengthen the next generation of innovation spaces worldwide, launching the work at Greentown Labs, the world’s largest climatetech incubator, in Boston.
Town Square Spaces Ltd (TownSq) used the event to publish its latest whitepaper, What Is An Innovation Space, which sets out five “golden rules” for creating an effective environment for innovators, start-ups and high-growth businesses. The UK launch will follow on today (25 November) during Wales Tech Week at the ICC Wales in Newport.
The publication comes amid rapid global expansion of science parks, coworking hubs and specialist innovation centres. While such spaces vary widely in scope and design, they are increasingly grouped under the same banner—yet, according to TownSq, lack a shared definition of what makes them truly effective.
The whitepaper highlights the scale of this worldwide growth: India now hosts more than 160,000 tech hubs, supporting a booming start-up ecosystem and placing the country third globally for accelerator programmes. Brazil has seen 224% growth in agricultural incubators, while science and technology parks worldwide have doubled over the past 15 years.
The global coworking market, valued at $25bn, is forecast to grow 15% annually, and the UK alone has seen its number of coworking spaces quadruple to more than 4,000 in the past decade.
TownSq’s study, drawing on thousands of examples worldwide—boils down the key ingredients of successful innovation spaces into five core principles: Equipment, Location, Design, Ritual and Connections.
The paper also showcases leading examples from Canada, Uganda, Germany, Japan, the UK and the US, including Greentown Labs, where the research was unveiled.
Speaking at the launch, Gareth Jones, CEO of TownSq, said: “Innovation Spaces are an essential part of innovation ecosystems globally now, but the conversation needs to evolve on how these spaces’ services and operations are designed to do more for their communities.
“We found that across the world, the best spaces focus on these five areas of what they do, to improve outcomes for their customers and businesses that use them.
“Economic growth comes from Innovation Driven Enterprises, and so as economic policy continues to prioritise the development of these spaces we encourage policy makers, architects, operators, entrepreneurs, investors, and anyone who uses these spaces to consider these five golden rules when designing the physical space, and then – most importantly – the operational plan for the years to come.”
The UK launch will feature a panel discussion at Wales Tech Week, including Dr Felicia Fai, Associate Professor in Business and Innovation at the University of Bath.
Dr Fai, who wrote the whitepaper’s foreword, said: “Productivity in the UK has been under pressure for some time. Innovation is widely seen as a key driver of productivity, so finding ways to encourage it is essential.
“But where does innovation happen—and how? This timely white paper explores a compelling question: What is an innovation space?
“Motivated by their work with Cardiff University to establish innovation space for Media Cymru, TownSq reflected upon their experiences of establishing a network of spaces which encourage great work.
“This Whitepaper provides a good framework of consideration to anyone trying to establish innovation spaces, and the things to look out for, for those who seek to join one.”
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