Today’s world of global hyper competition demands ability to change, adapt to new demands, differentiate and most important, to innovate and execute. Innovation – this way too often misused word – is the key to sustainable growth and prosperity in the context of the wider society. Having worked with innovation management for the last few years it has become evident that the interaction between regional and corporate innovation is imperative. A society with an innovative business life without an equally eager and coordinated innovation focused public sector is predestined to find itself sliding down the hill of growth and prosperity. And vice versa, an innovative public sector with a laid back and lazy attitude business life will also fail. Coordinated innovation management is the key to success by bridging the business and public lives making them develop in harmony.