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Predicting urban innovation from the US Workforce Mobility Network

Business

Predicting urban innovation from the US Workforce Mobility Network

M. Bonaventura, L. M. Aiello, et al.

This groundbreaking research by Moreno Bonaventura, Luca Maria Aiello, Daniele Quercia, and Vito Latora reveals that the centrality of social network structures significantly predicts the innovation performance of US cities, surpassing traditional metrics. Discover how fostering professional networks could enhance innovation processes, based on insights from a dynamic Workforce Mobility Network built from CrunchBase data.... show more
Abstract
While great emphasis has been placed on the role of social interactions as a driver of innovation growth, very few empirical studies have explicitly investigated the impact of social network structures on the innovation performance of cities. Past research has mostly explored scaling laws of socio-economic outputs of cities as determined by, for example, the single predictor of population. Here, by drawing on a publicly available dataset of the startup ecosystem, we build the first Workforce Mobility Network among metropolitan areas in the US. We found that node centrality computed on this network accounts for most of the variability observed in cities' innovation performance and significantly outperforms other predictors such as population size or density, suggesting that policies and initiatives aiming at sustaining innovation processes might benefit from fostering professional networks alongside other economic or systemic incentives. As opposed to previous approaches powered by census data, our model can be updated in real-time upon open databases, opening up new opportunities both for researchers in a variety of disciplines to study urban economies in new ways, and for practitioners to design tools for monitoring such economies in real-time.
Publisher
Humanities & Social Sciences Communications
Published On
Jan 07, 2021
Authors
Moreno Bonaventura, Luca Maria Aiello, Daniele Quercia, Vito Latora
Tags
social networks
innovation performance
US cities
Workforce Mobility Network
node centrality
professional networks
CrunchBase
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