Which of the following statements is true for an innovation hub?
A)It refers to a geographic region that contains a cluster of company R&D centers, universities, and government research institutes in close proximity.
B)It refers to the virtual concentration of manufacturers, company R&D centers, dealers and distributors dealing with the same products.
C)It refers to the pooling of resources for research and development by countries producing and exporting the same kind of products.
D)It refers to the R&D centers set up by the governments that finance ideas of independent individuals and organizations alike.
E)It refers to a conglomeration of organizations who share cutting-edge technology and latest business practices for mutual benefit.

Question

Quizplus · Accepted Answer

EInnovation hubs are typically characterized by the physical clustering of research and development centers, universities, and other organizations in a specific geographic area, facilitating collaboration and the sharing of knowledge and resources (A). They also often involve a network or conglomeration of organizations that share advanced technologies and business practices for mutual benefit, fostering innovation and economic development (E).

Which of the Following Statements Is True for an Innovation