The term governance is generally ill-defined and has gained a range of meanings. For the purposes of this profile, the definition of STI governance is limited to the set of publicly defined institutional arrangements, including incentive structures and norms, that shape the ways in which various public and private actors involved in socioeconomic development interact when allocating and managing resources for innovation. The emphasis on interaction naturally raises issues of co-ordination, and failures in governance are, more often than not, related to failures of co-ordination.