Innovation is recognized as one of the fundamental factors for the economic development and competitiveness of a territory. It is through innovation that companies can distinguish themselves from their competitors, creating differentiated products and services and, as such, obtain more market share.
Austrian economist Joseph Schumpeter recognized this kind of “creative destruction”, in which old methods of production are replaced by others, as one of the essential factors of capitalism.
Now it has to be recognized that innovation does not come from a vacuum; it springs from a certain context. The conversion of knowledge into innovation does not necessarily have to come from an isolated laboratory or a proudly alone company.
The idea of a solitary entrepreneur who, with the strength of his charisma and the audacity of his ideas, fundamentally changes the market in which he operates is hardly the norm.
Innovation needs a certain level of collaboration; it is the interactions between people, even if they are from other companies, that enable and promote innovation. A serendipitous encounter between colleagues or friends can dictate a discovery that leads to a new product. It is no coincidence that large innovative regions are home to a large number of companies, many of them competitors.
Realizing that they can gain advantages by obtaining specialized personnel without the need for training, and by taking advantage of existing infrastructure, companies are located close to each other, training clusters. People change companies, taking with them different knowledge and production methods; some may even decide to create new companies.
In this way, innovation ends up having a spatial dimension; the agglomeration of companies provides a suitable environment for promoting innovation, and as such, the competitiveness of a region.
In the context of innovation, the University plays a key role in promoting the aforementioned context. Far from the simplistic vision that it must train professionals and carry out fundamental research, today the University plays an active role in boosting an innovative ecosystem.
The transfer of technology and knowledge produced by the University to civil society, through the creation of commercial applications or the creation and incubation of technology-based companies is one of the new roles that the University demands.
That said, I am pleased to see the University of Algarve's initiative to build a Technology Park in Gambelas. It is the materialization of an old desire of the University; the creation of an infrastructure that could welcome new companies with an innovative base, in strict collaboration with the University, managed by an organization with specialized human resources and that can provide value-added services to the hosted companies, with special emphasis on the importance of transferring technology.
The Technological Park is another step in opening the University to the business sector, not only to boost technological entrepreneurship, but also to empower companies that already exist in the market, which can benefit from the University's knowledge.
A technology park is an infrastructure with several dimensions; it is a real estate project, an organized technology transfer program and a partnership between the State, the private sector and the University. The management of these aspects will condition the initiative's success; the University should position itself as a pivot between the different actors that interact in the Park.
The great distinction of a technology park compared to similar business hosting projects is linked to the presence of the University, which should have an absolutely active role in determining the vision and the governance from the park.
The creation of a business incubator within the Park is also an opportunity for the University to raise the level of incubation, by providing companies with more than low-cost offices, but also access to complete laboratories, management training programs and entrepreneurship and contacts with investors and venture capital.
From the point of view of land use planning, the Technological Park is an opportunity to consolidate the urban fabric of Gambelas, providing it with a component of use that is different from the existing one.
However, it should be noted that there should be some level of flexibility to ensure in the classification and qualification of land use in the Park's Urbanization Plan, in order to allow a sustainable deployment of companies in the Technology Park, as well as to allow the adaptation of the infrastructure and from the Park's dimension to the inevitable paradigm shifts that are felt in the life cycle of business activity.
The great opportunity of this Technological Park is, however, in its role of driving the innovation ecosystem for the entire Algarve region. The economic structure of the Algarve is not very dependent on tourism; the establishment of this Park is an important investment for the diversification of the region's economic base.
Although it is a territorially located structure, the somewhat paradoxical challenge of this Park is to mitigate its own spatial dimension and cause a positive dynamic for the region in terms of promoting entrepreneurship and the creation and dissemination of innovation.
To this end, it is important to establish and promote relationships with the different actors in the region, extending their activities beyond the limits of the park and its stakeholders more immediate. The Technology Park of the University of Algarve may be located in Gambelas, but it belongs to the whole Algarve.
Who is António Guerreiro?
António Guerreiro has a degree in Economics and a Master's Degree in Marketing from the Faculty of Economics of the University of Algarve, having completed postgraduate studies in the areas of Corporate Finance and Taxation at UAlg and Real Estate Asset Valuation at ISEL.
Completed the curricular part of the PhD Program in Innovation and Territory Management at the University of Algarve.
He is an occasional writer, having an opinion column in a local newspaper.
Effective member of the Order of Economists and of the Order of Certified Accountants, he is a Manager by profession, with experience in retail and real estate and is especially interested in regional development, urban dynamics and entrepreneurship.
Note: article published under the protocol between the Sul Informação and the Algarve Delegation of the Order of Economists
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