An innovation ecosystem refers to a network of interconnected organizations, individuals, and resources that work together to foster creativity and develop new ideas. This ecosystem includes various stakeholders such as startups, large corporations, universities, and government agencies, all contributing to a collaborative environment that encourages innovation. These ecosystems thrive on the exchange of knowledge, technology, and funding, enabling participants to share insights and resources. By leveraging diverse expertise and perspectives, innovation ecosystems can accelerate the development of new products and services, ultimately driving economic growth and societal advancement.