Solution for Promoting Innovation to Achieve Inclusive Growth
The Role of Technology for Sustainable, Equitable Growth
Sometime back, I initiated a study and a survey of new inventions that could have the most favorable and sustainable impact on the lives and livelihoods of a majority of people on our planet (i.e., at least three and a half billion people).
We identified six anchor themes where the world desperately needs break-through inventions.
There is documented evidence that enough original work has already been done in each of these six domains, and the relevant technologies are virtually on the cusp of being gainfully commercialized. But there are two strong impediments that tend to slow down the process.
A. Suppression of new inventions by entrenched monopolies
B. Lack of even moderate finance to fund this research fast enough for commercialization
Key Action Agenda
- Prompt governments to create unmistakable tax incentives for encouraging such research and make it viable.
- Decouple scientific inventions from profit-oriented commercial exploitation and focus on how pooling of collective know-how can fast-track the process.
- Promote Shared Research through Open Source innovation, precluding the priority to patent and make money. Saving lives and improving livelihoods is a great reward in itself.
