Non-financial Innovation Factors
The development of an innovation ecosystem depends on both, financial and non-financial innovation factors.
Complementary to financial, researchers have also identified the need for a deeper
understanding of the nonfinancial innovation factors (Smith 2005). Consequently, based on a
thorough literature review (over 100 units) we have defined nonfinancial innovation factors,
related to the level of organisation & management of the innovation process: vision and
strategic aspects of encouragement regarding innovativeness, the role of support coming from
managers, organizational culture and climate, innovation cooperation within a company and
with the environment, the system of material and non-material rewards, the role of the
protection of intellectual property, training and the development of staff competencies, the
identification of opportunities and idea generation.