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Nov 13

Regional Inclusive Innovation Policy Forum in Beijing: Inclusive Innovation for Sustainable Growth

“What is inclusive innovation? In China, scientists developed a multi-functional diagnosis table, which integrates diverse healthcare checks into one bed. And it only costs $5,000, significantly lower than other medical equipments with similar functions. In the Philippines, a contact center has been set up for farmers and fishermen to get professional advices in agriculture and fisheries technologies, marketing and sales, pest and disease management, etc., through phone calls, SMS, online live chat, online forum or email. In Thailand, a lifelong education and development center is open for all, where the tuition fee is 400 hours of community service and planting 400 trees. Those cases are examples of Inclusive Innovation.

China has been keen on promoting innovation to sustain its growth. The Global Competitiveness Report 2011-2012 ranked China 29th out of 142 economies in its innovation index, which is the top ranking among BRICS. But this has, so far, much focused on innovations at the technological frontier. The Ministry of Finance of China and the World Bank Group recently organized the Regional Inclusive Innovation Policy Forum in Beijing, to share international and China’s experiences in “inclusive innovation” and discuss how to incorporate the idea into the government’s innovation-led growth strategy.

“Innovation could be a key driver not only for increasing productivity and competitiveness, but for reducing inequality and poverty,” said Hamid Alavi, a senior private sector development specialist at the World Bank.
With the rapid growth of emerging economies, disparities have also increased in these countries. “Inclusive innovation is about utilizing innovation to serve the needs of people at the economic base of the pyramid,” said Kurt Larsen, a senior education specialist with the World Bank Institute (WBI), “giving them access to basic goods, services and livelihood opportunities.””

Source: http://www.worldbank.org/en/news/feature/2012/06/21/beijing-forum-promotes-inclusive-innovation-for-sustainable-growth

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