Developing the Inclusive and Sustainable Innovation Index (ISII): A Novel Framework for Evaluating Innovation Practices on Inclusiveness and Sustainability

Abstract

The concept of innovation is vital for the advancement of both the economy and the society as a whole. Unfortunately, the orthodox measures of innovation still fail to recognize and capture important aspects which are inclusivity and sustainability. This article suggests ISII for Inclusive & Sustained Innovation Index ISII, a new model created with the objective of evaluating as well as improving the practices of innovation which are inclusivity and sustainability. The environment and inclusion, and how such innovations promote development objectives over a longer term are integrated into how such innovations are justified from the perspective of development on the social, environmental and economic aspects. Furthermore, the key aspects of studying ISII as a methodology, its main structural elements and their effects are presented while applying ISII for the needs of decision making concentrated on the stimulation of innovations including sustainability aspects.