Innovation policy in the modern world
Published
November 2007
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Innovation policy in the modern world: Five big challenges 82KB
Description
Innovation has changed dramatically since the model of 'Big Science' in the mid-20th century. Globalisation, new technologies and growth in the service sectors are all combining to quicken the pace of change today.
The innovation research community has tracked many of these trends, but few governments yet reflect them in their innovation policies. This is not ignorance or indifference, but a result of the failure of researchers and policymakers collectively to develop meaningful policies that could support these new forms of innovation.
The matter is now urgent. An increasingly competitive global economy and the failure of traditional approaches to meet pressing social challenges, mean that innovation is now a necessity, not a luxury.
So, innovation policy needs to move beyond its comfort zone and respond to the five challenges set out here. Not all will be achieved, but to respond to the demands of the modern world innovation policy needs to become more exploratory, risk-taking and experimental.
In short, innovation policy needs to take on more of the characteristics of innovation itself.