Building IP-FY | Patent Agent | Head - IPR Cell - MSME and Startups Forum - Bharat | I help Startups and MSMEs identify, protect and leverage on their intellectual property
Making Innovation Policy Work for Development – WIPO Report Main Recommendations for Effective Innovation Policy for Development 1. Embrace Economic Complexity and Relatedness - Build on Existing Capabilities: Focus on leveraging existing scientific, technological, and production capabilities to diversify into more complex industries, ensuring a gradual and sustainable transition. - Smart Specialization: Adopt strategies that identify and invest in local capabilities, fostering entrepreneurial discovery and prioritizing investments that build on these strengths. 2. Strengthen Innovation Ecosystems - Support STI Systems: Invest in science, technology, and innovation (STI) systems, including universities, research institutes, and public research organizations. - Public Funding and Policy Incentives: Provide R&D subsidies, tax credits, and other financial incentives to encourage private sector investment in innovation. 3. Foster Knowledge Diffusion and Labor Mobility - Promote Knowledge Transfer: Facilitate the movement of skilled labor and the diffusion of tacit knowledge through policies supporting labor mobility and international collaboration. - Encourage Collaboration: Strengthen linkages between academia, industry, and government to ensure scientific research translates into technological advancements and commercial products. 4. Tailor Policies to Local Contexts - Context-Specific Strategies: Design innovation policies tailored to the specific economic, social, and technological contexts of each country or region. - Regional Focus: Implement policies at the regional or local level to address specific needs and opportunities. 5. Enhance Capabilities in High-Complexity Fields - Target High-Complexity Capabilities: Focus on developing capabilities in high-complexity fields such as advanced materials, biotechnology, and ICTs. - Incremental Diversification: Encourage incremental diversification by building on related capabilities, ensuring new industries are supported by existing strengths and knowledge. 6. Monitor and Evaluate Policy Impact - Continuous Evaluation: Establish mechanisms for continuous evaluation and adjustment of innovation policies to ensure they remain effective and responsive to changing conditions. - Learning from Success and Failure: Analyze both successful and unsuccessful policy interventions to learn from past experiences and improve future policy design. 7. Address Global Challenges through Innovation - Climate Change and Sustainability: Develop and deploy technologies that address global challenges such as climate change, incentivizing the development of carbon-reducing technologies and supporting sustainable industrial practices. - Health and Security: Prioritize innovations that improve public health and national security, such as vaccine development and semiconductor manufacturing, through targeted public support and funding. #wipo #innovation #policies