How collaboration networks affect innovation in Korea’s information and communication technology industry in the era of Internet of Things

Innovation is the outcome of interactions among multiple actors and institutions. In actor-based innovation system studies, researchers have investigated with whom actors should collaborate to create innovation. In reality, however, actors do not choose their collaboration network only based on information at the actor level; they also consider ‘something’ specific that their partner may possess. In the era of Internet Things, collaboration network is more important than ever because it is getting more difficult for a firm to innovate alone, as information and communication technology (ICT) converges with other industries. This paper introduces a factor-based innovation system and then derives via an empirical analysis the effect of factor networks in the innovation system on innovation with adaption to the Korean ICT industry.