The Contribution of Innovation Hubs Towards Strengthening the Regional Development in Sweden

Aim: This study aims to explore the influence of innovation hubs (IHs) on innovation-based regional development. Methodology: This study applied a qualitative approach using a multiple case study method to collect data through 10 semi-structured interviews. A detailed analysis of the data collected was conducted using the content analysis method. Findings: The study shows that IHs can influence both economic and social development. An IH can attract knowledge and expertise as well as investors to the region through its activities and geographical location. The hubs support start-ups, entrepreneurs and smart specialization at the same time as they also enable sustainable development by creating social value. Regions can exchange resources through cross-collaboration via IHs. Research Implications: This study has important theoretical managerial and societal implications. It adds comprehensive knowledge to the existing theory on IHs and regional development by highlighting the influence of IHs on regional development. The study shows both economic and social influence in detail and points out a previously undiscussed concept in the context of the correlation between IHs and regional development.