The European Business Review

INNOVATION, THE ART OF ABOLISHING DISTANCE Building the ATTRACT DeepTech Ecosystem

Innovation is the art of abolishing distances. Innovation thrives by combining distinct, diverse, and previously unconnected capabilities and resources to solve problems. This is particularly true for DeepTech Innovation. ATTRACT is an initiative that created a Pan-European DeepTech ecosystem that spans detection, imaging, and computing technologies. It assembled around 170 DeepTech projects in an ecosystem comprising scientific research institutions, universities, business networks and hundreds of students from across Europe. ATTRACT takes the art of innovation to its next level by steering open and interdisciplinary cooperation across a diverse network of stakeholders.

INNOVATION AS THE ART OF COMBINING THE POWER OF DISTANT OBJECTS

Adam Smith's book, The Wealth of Nations is renowned for the description of the division of labour, where the production process is segmented into a series of small, specialised tasks, each carried out by a distinct worker, enhancing overall efficiency. Smith's illustration of this through a pin factory is well-known. Yet, the subsequent passages in this book that portray innovation as the art of linking disparate resources and expertise are less cited. He noted.

DeepTech solutions require long and uncertain development cycles,

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