Between Innovation and National Transformation (II)
Innovation has a strong relationship with National Transformation, Nations like Singapore, China, Brazil, India, Canada, South Korea, Germany , Sweden and Finland are major drivers and shapers of the Global economy because of the high value for it.
Today the Global Competitiveness of Nations is characterized by the level of Innovation and how it has revolutionized their economies. Arab Nations like Qatar, Bahrain, UAE and Saudi Arabia are also rated high because they have placed value on the innovation culture.
The United States of America which is the hallmark Nation of Innovation is simply the Largest economy in the World because of the value for creativity, research and technology. Top corporations that make the leading brands in the World are products of a strong innovation culture.
Twyla Tharp has this powerful quote on change and innovation 'The only thing i fear more than change is no change. The business of being static makes me nuts'.It took men and women that were tired of a static economic pattern to bring about a radical revolution of their political economy.
Sheikh Lubhna Al-Qassimi Former Minister of Trade and Economy in United Arab Emirates brought dynamism to the maritime sector of the kingdom, and through innovation and creativity repositioned the ports and the tourism sector to make Dubai become a key business hub in the World.
Current President Lee Myung Bak of South Korea has invested heavily in the utilization of advanced technology to improve the education system has positioned the country's educational system as one of the best in the globe.
President Paul Kagame of Rwanda after the terrible war of 1994, believed that to get the Nation back on track economically one area that it can utilize is the Information Technology sector. Rwanda is now one of Africa's leading technological hubs as high value for innovation and creativity is transforming the economy, and leading to the emergence of key businesses that are accelerating growth in the east African Nation.
Prime Minister Mamonhan Singh of India is one of the Architects of Indian's present economic transformation, his singular move to bring innovation to the Indian economy by moving it from the 'Licence Raj' era to a Capitalist driven economy has set the pathway for the Nation's economic advancement.
The Information Technology advancement, Agricultural revolution, Manufacturing Sector development and Strategic Industrialization has seen a huge level of Foreign Direct Investment in the country and the emergence of key Indian Businesses and Brands in the Globe.
Brazil is also a force in the Innovation Drive as the Former President Fernando Cardoso set the pace for the transformation from a Debt ridden Nation to a key economic driver with the 'Real Stabilization plan'. It also encouraged the strategic development of Brazilian businesses especially Small Medium Enterprises (SME'S) which have helped to tackle unemployment in the country.
The Danish Government since the era of Prime Minister Hans Vogh Rasmussen to current Premier Ms Helle Thorning Schmidt has continued to show commitment and high value for Innovation, Research and Development and Information Communication Technology(ICT) and has been able to commercialize as a way of generating revenue.
Iceland under the present Leadership of Ms Johanna Siguroardottir is another Interesting example of Innovation and National Transformation as the Government has continued to show commitment in the area of investing in Research and Development, which takes 2.8 percent of its GDP. This has created a conducive environment for the start up of technologically driven businesses and services that are driving the economy.
The Chinese Government under the Leadership of Mr Hu Jintao has demonstrated resilience and value for the Innovative culture and creativity which has facilitated the growth of many Chinese Brands and Businesses competing in the Globe.
Peter f. Drucker asserts that 'Innovation is the specific instrument of entepreneurship'. The Act that endows resources with a new capacity to create wealth'. In the aforementioned Nations Rwanda, UAE, Brazil, India, South Korea, China, Denmark, China, the Governments in partnership with the private sector have structured a model to encourage and drive the innovation culture in economies, which has served as a catalyst to Small Medium Enterprises.
These Countries understand that to be relevant and competitive in the Global market they have to value innovation and creativity that will bring radical changes to their Political Economic Landscape.
In all of these Nigeria cannot afford to be a spectator if she is to become a key player in the globe we have a great opportunity to rediscover our potentials as a Nation that can also contribute immensely to the growth of technology.
The Federal , State and Local Governments in partnership with the organized private sector should set up an Innovation Development fund (IDF) managed by the Ministries of Science/Technology and Information Technology to encourage innovative minded Nigerians whose inventions and ideas can take our economy to the next level.