Lund Innovation Ecosystem Portfolio Tracking (LIEPT) is a method to monitor and analyse the development of portfolios of different innovation efforts over time within an innovation ecosystem. New methods and practical tools are needed to manage and mentor broad portfolios of many stakeholders and related activities within innovation ecosystems. The LIEPT model fills this gap by offering a tested approach to track and understand changes over time practicing open innovation.
The LIEPT model has been developed gradually through the work of the Future by Lund innovation platform. It started by identifying the need to follow themes to make the work understandable. By integrating different models, such as Vinnväxt's layered model (by Vinnova Sweden’s innovation agency), OPSI's innovation facet model (by OECE) and the zone model from Future by Lund, a comprehensive method is created to visualise and track changes in the innovation ecosystem.
1. Setting the scope: this involves defining what to monitor by specifying themes, areas or portfolios for analysis. This creates a baseline for understanding what is included and what is intended to be followed.
2. Layered model: This model divides the development into four layers. The first layer includes core funding for the innovation platform, the second layer includes project funding for projects led or participated in by the platform, the third layer includes project funding for partners outside the platform, and the fourth layer focuses on qualitative events linked to business and private investment.
3. OPSI's model and the zone model: This part combines OPSI's Portfolio Exploration Tool, which manages innovation portfolios, and the zone model OPSI's model divides innovations into four areas and uses two axes to understand and map innovation activities. The zone model categorises activities in the innovation process into yellow, green and blue zones to represent different phases.
4. Data collection and visualisation: The fourth part is based on Lund University's tool for advanced data processing of funding data from the Swedish and European public support system. This enables visualisation of who receives funding, where it comes from and how it combines with other models to clearly show follow-on projects and area development.
The LIEPT model thus offers a comprehensive method for tracking and understanding the development of innovation ecosystems over time, enabling actors to strategically manage their portfolios and make informed decisions for future action.