You are here: Home Knowledge Base Innovation, Dynamism and Entrepreneurship Solutions Recognize that innovation is typically disruptive, often emerging from trial and error, repeated failure and financial speculation
Symposium 2013

Solution for 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 ...

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.

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

From scientific research to identification of commercial applications of new technologies, progress has been achieved through ‘trial and error and error’. The strategic technologies that have repeatedly transformed the market economy – from railroads to the internet – required the construction of networks whose value in use could not be known when they were first deployed. Consequently, innovation at the frontier depends on funding sources that are decoupled from concern for economic value. Financial speculation is one key source of funding.

    Related 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

    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