A Step-by-Step Guide to Place-making Innovation

The GFCC
6 days ago
3 min read

Updated: 3 days ago

Around the world, cities and regions are striving to find ways to differentiate themselves and innovate to transform local and regional economies.

The GFCC, in partnership with Prof. Aleks Subic, Vice-Chancellor and CEO of Aston University, advocates for a holistic and structured model that places universities at the center of local and regional socio-economic transformation, an approach called place-making innovation.

GFCC member Aston University has been a key actor driving place-making innovation in Birmingham, UK. The image shows the project of the Birmingham Innovation Precinct, a world-class hub for innovation and knowledge-creation that aims to transform the city and its region. Credit: Aston University.

What is place-making innovation?

Place-making revolves around the idea that inclusive innovation can reshape and transform local and regional economies and societies by actively creating, through future-oriented co-investment, the capabilities needed to improve the socioeconomic environment of a place.

Although place-making builds on the traditional model of place-based innovation of leveraging the existing strengths and unique qualities of a place or region, it advances a more comprehensive and systemic framework. The key difference is the "intention" to actively harness and build local and global connections, investment, and knowledge assets for fostering long-term innovation ecosystems.

The concept draws from the quadruple-helix model of innovation and emphasizes the development of strong partnerships between universities, government (local, regional, and national), business and industry, and the community.

Universities are central to this process. They play a critical role as catalysts of positive transformation by fostering multi-stakeholder engagements to drive sustainable and inclusive outcomes.

More on place-making innovation

The GFCC has published a paper that defines place-making innovation and its potential to transform local economies and societies.
Read also the exclusive case-study on the Birmingham Innovation Precinct.

Three Steps to Shape an Innovation Ecosystem Through a Place-making Approach

1. Build a Multi-Stakeholder Coalition

At its core, place-making innovation recognizes that transformative change requires deep and sustained multi-stakeholder partnerships.

It requires active engagement and alignment of goals among universities (as centers of knowledge and talent), industry (as drivers of application and economic activity), government (as enablers and conveners), and the community (as beneficiaries and co-creators of value).

2. Invest in Strategic Assets

This step involves the deliberate deployment and development of resources and infrastructure that are crucial for fostering the quadruple-helix model of innovation.

These assets can be tangible, such as specialized research facilities, advanced manufacturing hubs, data centers, start-up accelerators, business incubators, and collaborative workspaces.

They can also be intangible, including robust talent pipelines, vibrant entrepreneurial networks, access to capital, institutional capacity, and a supportive regulatory and policy environment.

3. Focus on Community Impact

Place-making innovation has an explicit focus on the socio-economic transformation of the entire region and the well-being of the communities it serves. It considers how innovation can address local needs, reduce inequalities, and create opportunities for a wider range of stakeholders through inclusive growth and long-term sustainability.

There are additional elements that play a role in the successful development of an innovation ecosystem, including a mindset shift toward continuous improvement, an intentional effort to connect with local and global networks of like-minded partners, and a decisive leadership capable of translating vision into action.

The time for place-making is now

Place-making innovation offers a strategic and collaborative pathway for regional development that leverages a place’s inherent strengths and resources while building new capabilities, co-creating value, and actively shaping a more inclusive, sustainable, and prosperous future for local communities.

At its core, place-making innovation is about intentionally “making” a place that is inherently inclusive, resilient, and prosperous through collaborative innovation.

Learn more about the GFCC initiative Leadership in Place-making Innovation .