The innovation imperative – but what does it mean?

“… But there is a particular challenge here for these turbulent economic times: the new innovation-based competitiveness is not cheap and requires very significant up-front investment. It needs a super-charged education system at all levels, a world beating technological infrastructure, a legal system that supports and protects innovation and intellectual property, and an environment that promoted entrepreneurship at every turn. Right now we are facing the temptation to cut costs everywhere, and there is often no adequate distinction drawn between costs and investment. The truth is, we need to invest in innovation like crazy. The things that brought us the Celtic Tiger are gone, and cannot be recovered even when the global recession disappears. And if we hold our investment in innovation until then, we will be too late …” (more)

[Ferdinand von Prondzynski, University Blog, 13 March]

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