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Symposium 2013

Innovation, Dynamism and Entrepreneurship

The Challenge

Innovation as the foundation of economic dynamism and prosperity is a complex process involving contributions from various players. In particular it deals with the transformation of basic science into rival proposals that improve the well-being of mankind. For more than 200 years technological innovation has driven economic development. All growth is based on innovation. The process of innovation involves complementary contributions from science, from entrepreneurs, from the financial markets, from the investment community and from government.

We better need to understand the difference between invention and innovation. Whereas invention is rather spending money to acquire new knowledge, innovation is using the nearly acquired knowledge to create new products and services. In short, whereas invention is turning money into knowledge, innovation is turning knowledge into money.

Does economic theory understand the innovation as an evolutionary process versus paradigm of equilibrium analysis? Is innovation successful in fighting poverty and lifting billions of people out of poverty? Is the academic study of the economics of innovation sufficient? Does it attract sufficient international interest? Do we understand sufficiently the theoretical and historical understanding of the paces of technological innovation?

Why do some fims innovate more than others? Why do some societies innovate more than others? The image of the lonely rider pushing innovation and technology has long prevailed. Does this still hold true today?

Which economic research is necessary to better understand the importance of innovation as the base for creating economic dynamism? Do we need a stronger public and political debate about the importance and the conditions of an increased innovation pace?

If the number of patents is an indicator for an increasing innovation pace, why is only a small percentage of registered patents commercially used? How do we create the proper eco system for increased innovation pace and economic dynamism? How do societies create an innovation friendly and entrepreneurship friendly environment? What is the importance of role models? Are the right framework conditions in place for the “change agent”, i.e. for the entrepreneur as “the missing supporting link” between invention and innovation?

What role is there for the state? What must governments do to foster innovation and thereby creating economic dynamism in order to have individuals and businesses to be able to try and error, to innovate and to compete? What framework conditions must be in place to have the proper eco system for Start-Ups to be created and flourish? How do we design the right access to financing of innovation by the financing of Start-ups? Which role for business Angels and VCs? Does innovation create more equality if free access to knowledge is possible? Does poor innovation relate to poor income?

This session is part of the issue cluster "Achieving Sustainable and Inclusive Growth" and organized in cooperation with The Institute for New Economic Thinking.

    Solutions

    Solution
    Symposium 2013

    Tackle youth unemployment and promote youth entrepreneurship through education and active labor market policies

    Tackle youth unemployment and promote youth entrepreneurship through education and active labor market policies

    Tackle youth unemployment and promote youth entrepreneurship through education and active labor market policies

    Polity, Academia, Business, Civil Society
    Solution
    Symposium 2013

    Recognize the key role that activist governments can and do play in encouraging innovation

    Recognize the key role that activist governments can and do play in encouraging innovation

    Recognize the key role that activist governments can and do play in encouraging innovation

    Polity, Academia, Business, Civil Society
    Solution
    Symposium 2013

    Recognize that innovation is typically disruptive, often emerging from trial and error, repeated failure and financial speculation

    Recognize that innovation is typically disruptive, often emerging from trial and error, repeated failure and financial speculation

    Recognize that innovation is typically disruptive, often emerging from trial and error, repeated failure and financial speculation

    Polity, Academia, Business, Civil Society
    Solution
    Symposium 2013

    Provide access to financial literacy so everyone has the opportunity to be an entrepreneur

    Provide access to financial literacy so everyone has the opportunity to be an entrepreneur

    Provide access to financial literacy so everyone has the opportunity to be an entrepreneur

    Polity, Academia, Business, Civil Society

    Proposals

    Proposal
    Symposium 2013

    Something for Everyone: Building Incentives for Innovation Ecosystems

    Healthy innovation economies are the main driver of prosperity in the 21st century. But the three players that have traditionally sponsored basic research and invention in those economies are no longe ...

    Healthy innovation economies are the main driver of prosperity in the 21st century. But the three players that have traditionally sponsored basic research and invention in those economies are no longer willing or able to perform that role. Corporate R&D has become increasingly conservative as concerns for profit push incremental, rather than radical, innovation. Governments are de-prioritizing funding for basic, blue-sky research. The days of massive, government-sponsored science and technology projects, such as the Apollo program or the military microelectronics investment that spurred Silicon Valley, are well behind us. Even venture capital, the favorite alternative for financing disruptive technologies, is

    Polity, Business
    Proposal
    Symposium 2013

    Creating global support networks for young innovators and entrepreneurs

    In order to support young entrepreneurs and innovators worldwide, we need to foster a multi-tiered ecosystem in which: Tier 1: the general public is educated and inspired about technology and entrepre ...

    In order to support young entrepreneurs and innovators worldwide, we need to foster a multi-tiered ecosystem in which: Tier 1: the general public is educated and inspired about technology and entrepreneurship (both theoretically and with practical, applicable 'hard skills' in programming, digital design, digital marketing etc as opposed to the emphasis on traditional 'soft skills' such as management theory etc). This needs to happen on elementary and secondary school levels, in addition to this being continued and integrated in traditional higher education models.   Tier 2: (young) innovators are supported in the protection of their intellectual property (foster, don't exploit).

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Peace through Entrepreneurship - An idea to foster peace through entrepreneurship?

    Use Innovation, Dynamism and Entrepreneurship to foster peace and economic growth at the same time. “Almost always great new ideas don't emerge from within a single person or function, but at the in ...

    Use Innovation, Dynamism and Entrepreneurship to foster peace and economic growth at the same time. “Almost always great new ideas don't emerge from within a single person or function, but at the intersection of functions or people that have never met before. And most universities are organized so you don't have those intersections. They are siloed. Universities think people come up with great ideas by closing the door”. (Clayton Christensen - HBS) Politicians think in the same way and are just as siloed; so are entrepreneurs and social leaders. All of them are siloed: academics, politicians, economists and social leaders.

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Innovation Officers (IO)

    The quest to find the right key to create Innovation has long been a subject to much speculation, academic research and theoretic models. Under our very eyes innovative companies like IDEO from Califo ...

    The quest to find the right key to create Innovation has long been a subject to much speculation, academic research and theoretic models. Under our very eyes innovative companies like IDEO from California, USA and SAP from Germany have developed extremely efficient and sound behavior models on innovation creating a hands on innovation process that any company can use anywhere. This is a real step forward in the understanding of innovation as even Dr. Robert G. Cooper, the creator of the well known Stage-Gate®-Process and one of the leading voices when it comes to innovation, proclaimed that new innovation approaches

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Putting Money Back In Its Place

    For 100 years the world has been on a fairly consistent march towards more and more free enterprise, and deeper and more sharp edged caverns of capitalism.  And for approximately 80 of those ye ...

    For 100 years the world has been on a fairly consistent march towards more and more free enterprise, and deeper and more sharp edged caverns of capitalism.  And for approximately 80 of those years the world was not on a bad path.  People (entrepreneurs) created things of real value to other people, and society too, and in the process of us paying for them, productive new industries were stood up (think of the automobile industry, the wired and wireless telephone industries, etc), people were hired, and a middle class was born. And on the backend of this, the entrepreneurs themselves often got rich, enjoyed fame and lived what most would call an exceedingly

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Hedging against Ignorance

    Investment in science and technology at the frontier of knowledge necessarily requires acceptance of fundamental ignorance about future economic and social value; is it possible to hedge this inescapa ...

    Investment in science and technology at the frontier of knowledge necessarily requires acceptance of fundamental ignorance about future economic and social value; is it possible to hedge this inescapable ignorance? Forty years of practice as a venture capitalist operating at the intersection of technological innovation, commercial promise and financial speculation inform these remarks. Early in my career I learned how right Keynes was when he wrote in The General Theory: By “uncertain’ knowledge” . . . I do not mean merely to distinguish what is known from what is merely probable . . . The sense in which I am

    Polity, Business
    Proposal
    Symposium 2013

    Innovation, Dynamism and Entrepreneurship

    The passage Malaysia had to endure has been full of challenges. Due to Malaysia’s strategic sea-lane position, it had been the center of trade and power struggle between the East and West for more t ...

    The passage Malaysia had to endure has been full of challenges. Due to Malaysia’s strategic sea-lane position, it had been the center of trade and power struggle between the East and West for more than 400 years. The Portuguese were the first European colonial powers to establish themselves in Malaya, colonizing Malacca in 1511; followed by the Dutch (1641) and the British (1824). The Japanese occupation during World War II (1941-45) ended British domination in Malaya. In September 1945, after the Japanese surrendered, the British returned to Malaya under the British Military Administration (BMA) and formed Rural Industrial Development Authority

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Youth Entrepreneurship as a Mechanism to Avoid a Lost Generation and Drive Innovation

    Problem The recent economic crisis, the worst since the Great Depression in the 1930s, has led to a disproportionate increase in youth unemployment in both the developed as well as the developing worl ...

    Problem The recent economic crisis, the worst since the Great Depression in the 1930s, has led to a disproportionate increase in youth unemployment in both the developed as well as the developing world. As developing countries account for almost 90% of the world’s youth, this shocking situation largely affects the poorest of the poor countries. However, as we have witnessed over the past 4 years, youth unemployment is a truly global problem. In Europe, for example, the youth unemployment rates increased by 60% over the past 4 years (ILO, 2012), leaving every 4th employable young person without a job. Across

    Polity, Business, Civil Society
    Proposal
    Symposium 2013

    Redefining success: 2020 the perfect vision – human to human

    When looking at the today’s world we see many organizations flourishing and many organizations failing. GDIC is focusing on solution based approaches to provide to any management team globally. The ...

    When looking at the today’s world we see many organizations flourishing and many organizations failing. GDIC is focusing on solution based approaches to provide to any management team globally. The main focus should be on human to human cooperation and collaboration which we can successfully implement while looking at components and elements of global talent management within merger & acquisitions (M&A) and an effective development of the global workforce. These are all very big words. We can break them down in different components so they don’t seem so overwhelming. It is always easier to look at smaller steps so we

    Polity, Academia, Business, Civil Society
    Proposal
    Symposium 2013

    Silicon Valley or Demand Mountain?

    BELLEVUE, WASHINGTON – Everyone wants to know how to build the next Silicon Valley: an innovation hub that draws talent and capital, and that creates jobs, companies, and whole new industries. Gover ...

    BELLEVUE, WASHINGTON – Everyone wants to know how to build the next Silicon Valley: an innovation hub that draws talent and capital, and that creates jobs, companies, and whole new industries. Governments of developed countries scramble to subsidize technology that could be the Next Big Thing. Policymakers in emerging economies hope that incentives like tax breaks and free land will induce innovators to settle and prosper there. But most of these well-meaning schemes are missing an essential ingredient: demand. Demand for innovation in specific areas of technology has been the common force behind all high-tech hot spots, as well as

    Polity, Business