Are grants truly fueling tech innovation, or are they just political vanity metrics? 🤔
At yesterday's Economist Impact Croatia Business Summit, our founder Mislav stirred the pot with this bold question. He challenged the conventional wisdom on how governments support tech innovation.
Mislav argued that while grants—common in the EU—allow politicians to claim they're backing innovation, they often shift focus away from creating real value. Instead, they can create dependency on government funding and reduce market engagement for startups.
But what happens when governments take the leap to become the first client? Look at the examples of the US Department of Defense, NASA, Singapore, and Israel. By acting as early adopters, these governments provide innovators with crucial market validation. Startups begin generating revenue and can improve their products based on real-world feedback.
It's easy for governments to distribute grants and feel they've done their part. Becoming a first client, however, is challenging. It requires a shift in mindset and building trust—something many countries have yet to embrace.
At Mindsmiths, we're on a mission to change this narrative. As the world's first relationship AI company, we're working to reimagine how governments interact with their citizens. We aim to transform unfriendly bureaucratic machines into supportive networks that serve as the first line of assistance, truly fostering innovation and value creation.
Let's rethink how we support innovation and focus on creating real impact.