The social dimensions of risk-taking

For successful innovation hubs to be created and sustained requires embracing a broad set of values of targeted R&D tax credits, strong levels of government and private-sector investment, highly skilled work forces and limited restrictions on innovation and risk taking. Creating those values requires a great deal of collaboration among industry, academia and government. But the critical factor is the ambition of the private sector to undertake the risks associated with global competitiveness. The degree to which private sector actors are willing to undertake those risks varies from region to region and forms part of the social fabric of risk-taking.

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