The University of Sarajevo Faculty of Economics, as the only internationally accredited Faculty in the field of business studies with the longest tradition in Bosnia and Herzegovina, initiated and created the first regional innovation event based on the Triple - Helix model - the regional innovation summit called Sarajevo Innovation Summit 2018 held in May 2018. Continuing the discussion on the importance of innovation and the need to develop an eco-system for innovation, the Faculty of Economics organized the Sarajevo Innovation Summit 2019.

Innovation today is one of the most important sources of long-term economic growth. Leading economic experts point out that 50% of GDP growth in developed economies is solely the result of growth in innovation. On the other hand, the role of innovation is equally important in less developed economies that face the additional challenge of innovating with very limited resources, and in very disadvantaged environments without adequate systemic and institutionalized support. In doing so, a special role belongs to universities as key players in the development of a knowledge-based economy, i.e. innovative economy. Although universities represent the most important generators of knowledge, knowledge transfer and commercialization of research present the greatest challenges for more intensive development of innovation. It is therefore of utmost importance that universities take innovation and innovation policies more seriously and allocate their resources accordingly.

In this sense, building an innovation ecosystem based on Triple-Helix principles becomes an imperative for the country's economic development. The Triple-Helix concept implies intensive cooperation between the education, public and business sectors, and emphasizes that the potential for innovation and economic development lies in the more prominent role of universities through the so-called hybridization of universities, industry and the public sector in the context of creating a new institutional and social framework for the generation, transfer and practical application of knowledge.

The basic idea behind the Summit is to bring together leading experts from the business and public sectors and academia in the field of innovation by presenting good practices and sharing knowledge and experiences with the aim of stimulating innovation and creating an adequate environment. The Summit will definitely contribute to a more open dialogue in the context of narrowing the gap between the labor market and higher education institutions in terms of creating new, market-relevant knowledge and skills, but also defining concrete recommendations for improving the environment that will be stimulating for innovation and entrepreneurial activity. 

Therefore, the target participants of the Innovation Summit are:

• Business sector professionals: Business sector representatives will be able to present successful business practices with particular emphasis on innovation and product development and management practices, innovative products and services, and the specific challenges they face.
• Innovation researchers: Representatives of the academic community will present the latest research and developments in the context of scientific development and innovation management.
• Public Sector Representatives: Representatives of relevant public institutions as key policy makers and decision makers will have the opportunity to present a regulatory framework governing the field of business, including innovation management in the business sector, as well as past practices and results that have a direct or indirect impact on innovation development.

Since the previous cooperation between universities, i.e. the education and business sector was mainly based on individual initiatives without a consistent and institutionalized approach, the realization of such an event will contribute to institutionalized cooperation with the business sector and enable the transfer of best practices through the “Open science” model. This type of cooperation will promote regional economic growth, job creation and the increasingly important role of higher education in this regard, and reduce the gap between research institutions and the business sector and increase the innovative capacity of the academic community.

Sarajevo Innovation Summit 2019 Organizational Team

Detail: 
http://www.efsa.unsa.ba/innovationsummit/bs/sarajevo-innovation-summit