Urban Hubs Breed More Innovative Products, Boosting Local Economies
In the Netherlands, companies in cities focus more on developing new products compared to those in rural areas. By studying data on new product announcements, it was found that firms in urban regions have a higher chance of introducing new products. Specifically, these urban firms are more likely to unveil multiple new products, supporting the idea that urban areas are better for product innovation compared to rural areas. This suggests that being in a city may provide advantages for companies looking to create and launch new products.