Can New Zealand develop a high performing innovation ecosystem that grows many more high valueinternational businesses?
That's one of 10 key issues that The New ZealandInstitute's spotlighted in its report about requirements for the country's long termsuccess.
Director Rick Boven says the challenge is to develop strategies and policies that guide andsupport the question that's been put.
Naturally, this can't be carried out in isolation from 'us', and there's another nine issues inthe report that sit alongside, and would need to concurrently occur to drive such a high performinginnovation ecosystem.
Boven's essentially talking about how do we produce a 'suped up engine' to drive economicprosperity.
Leaving those other nine issues (but being clear none can happen in isolation from the others),the institute makes some telling observations about innovation as it stands in the kiwi context. Wehave a huge chasm to leap.
Innovation drives economic prosperity in advanced economies, and the most prosperous smalladvanced economies export high value differentiated goods and services Boven says.
We have some strong points; adequate tertiary participation, sound universities, qualityscientific institutions and inventiveness. There's also a growing export sector based on technologyand innovation.
But, and these are big buts, our innovation ecosystem is not performing as well as othernations'.
•Business R&D is one-third of the OECD average
•There are shortages oftalent, capital, knowledge and connections for internationalizing business
•Week, butdeveloping governance of innovation
•Small size and distance makes internationalization moredifficult, but NZ provides less support than competing countries
Boven makes the point that we have many opportunities to grow high value exports, but alsoimportant obstacles.
Part of the institute's role is to create debate based on factual information, rather than fluffytalk.
He'd love to hear some good ideas. Elizabeth Connor made a