Urban Innovation

An area that is considered urban

An area that is considered urban is one that is home to a sizable number of people (Bhattacharya, 2010). As a result, an urban area is defined by a number of characteristics, including a high degree of development, including improved housing, good infrastructure, the availability of employment possibilities, and most crucially, a steady stream of income. The urban population is made up of people from various cultural origins and religious affiliations, making it more diverse than a rural location where most residents belong to the same ethnic group.

On the other hand, innovation

On the other hand, innovation, according to Ahn, Burke, and McGahan (2015), is the process of turning an idea into a workable solution with the aim of improving the current state of affairs. For instance, should account for transformation, which in turn affects the lives or cause the change to a given place with the probability of sustaining the impacts to be timeless such that it remains useful at the present time as well as in the future offering opportunities for adjustments the foster improvements.

Correspondingly, urban innovation results

Correspondingly, urban innovation results into the creation of value within the urban areas, which make the urban, are desirable, admirable, and attractive. Innovation fosters improvements within the urban areas leading to establishment quality buildings, efficient infrastructure, and effective coordination of operations within the urban areas. Since innovation occurs at different interfaces and bridges various gaps, it serves to meet the interests of every inhabitant of the urban area since the discoveries made are purposive in improving the living standards of the populace. Van (2004) highlights the essence of innovation within the urban area to address mainly sustainability, growth, and development.

Urban areas nonetheless encourage innovation

Urban areas nonetheless encourage innovation in order to counter and be on the same page with the growth of the internet, which stem from technological advancements, which is the key player in globalization. It is imperative to take into account that with globalization, there has been a shift in the international service economy, which has greatly reduced not limited to having eliminated trade barriers. With innovation in urban areas, the populace stand a chance to benefit from local and international free flows of capital which significantly encourages entrepreneurship opportunities. Urban areas therefore have to take into consideration various aspects of innovation including an understanding of the impacts of the s-curve innovation, derivative against radical innovation, disruptive innovation and finally incremental innovation. Conceptualization of the aforementioned type of innovations enables the urban area that might be in question to respond to changes and advancements in a timely manner to sustain its daily activities and operate normally.

Concisely, innovation applied to urban areas increases

Concisely, innovation applied to urban areas increases the opportunities for rapid economic growth and prosperity of the participating urban areas (Van, 2004). Hence, with changes in technology, living standards have improved in the urbanized areas. Unfortunately, the competition which may be healthy or detrimental for certain urban areas has seen places compete for limited resources ,thus, the more innovative an urban area is the more it attracts more people ,expands and grows while sustaining the livelihood of all its inhabitants. As such, the populaces in turn have the responsibility of being key players in the economic development of the place. Thus, through innovation, individuals have to be self-employed, become entrepreneurs and venture into projects that finally lead to creation of job opportunities.

References

Ahn, R., Burke, T. F., & McGahan, A. M. (Eds.) (2015). Innovating for healthy urbanization. New York: Springer.

Bhattacharya, B. (2010). Urbanization, urban sustainability, and the future of cities. New Delhi: Concept Pub. Co.

Van, O. F. G. (2004). Urban growth and innovation: Spatially bounded externalities in the Netherlands. Aldershot: Ashgate.