Internal Markets – Emerging Governance Structures for Innovation Liisa Välikangas Strategos Institute 2460 Sand Hill Road, Suite 202 Menlo Park, CA 94025 Tel. 650- 233 1100 Fax. 650- 233 1112 Lvalikangas@strategos.com Emerging Governance Structures for Innovation Selected as one of ten finalists for the fourth annual McKinsey/SMS Best Paper Prize. 1 We acknowledge Dan Vermeer’s contribution to the early conception of this paper. 1 1 2 Source: 2001 Index of Silicon Valley by Joint Venture Silicon Valley 2