RESEARCH, INNOVATION AND ENTREPRENEURSHIP: ESSENTIALS FOR SOCIO-ECONOMIC TRANSFORMATION

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1 RESEARCH, INNOVATION AND ENTREPRENEURSHIP: ESSENTIALS FOR SOCIO-ECONOMIC TRANSFORMATION BY Salome Guchu Ministry of Higher Education, Science and Technology 1

2 OUTLINE Introduction Towards a Knowledge based economy Research, Innovation and Entrepreneurship ST&I essentials for socio-economic transformation Building an Innovative and Entrepreneurial Culture 2

3 INTRODUCTION Nation s socio-economic transformation rests on an innovation-driven growth. In Kenya s long-term development blueprint, Vision the main goal is to transform into a knowledge-based economy Key assets that drive a knowledge-based economy include advanced research, patents and high quality relevant graduates. 3

4 Contd Current Status: Kenya is still a factor-driven economy Source: The Global Competitiveness Report , World Economic Forum 4

5 A KNOWLEDGE BASED ECONOMY Must have research that leads to increased products Products Prototypes Always ensure there is growth in the overlapping interrelationship IP (Patents, trademarks, Industrial designs, Utility Models) Publications Scientific Research: Basic & Applied 5

6 Must have a complete cycle of knowledge to money Transformation of money into knowledge Transformation of knowledge into money Dedicate to reinvesting innovation returns in knowledge creation 6

7 THE JOURNEY: KNOWLEDGE TO MONEY KNOWLEDGE MONEY Is it a smooth straight forward progression? NO 7

8 THE JOURNEY Valley of Death Scientific Research Innovations Darwinian Sea Viable Businesses Inventions & New Businesses 8

9 KNOWLEDGE BASED ECONOMY Strongly rooted in Research, Innovation and Entrepreneurship 9

10 RESEARCH, INNOVATION AND ENTREPRENEURSHIP What are the ST&I Essentials for Socioeconomic Transformation? 10

11 i. ST&I POLICY The guiding principle FIVE Key Components ST&I for Policy: Customization to the needs of national socio-economic transformation programme e.g. is it customized to support Kenya Vision 2030 Policy for ST&I: Measures to strengthen nation s ST&I capacity and capability in terms of institutions, mandates, personnel, funding and linkages must be part of ST&I policy Private Sector buy in: Participation and commitment of both public and private sector in implementation and success of nation s socio-economic transformation programme. ST&I Governance: Ensure effective consultation, coordination, collaboration and harmonization of ST&I. ST&I and Community: Supportive and knowledgeable society is key for advancement of ST&I in a country 11

12 ii. NATIONAL INNOVATION SYSTEM Involve various ST&I actors in academia, industry and Government >>> To ensure a well developed interface Knowledge generation and acquisition A Well developed interface Knowledge utilization and commercialization 12

13 Dynamic and effective interaction among various ST&I actors A must for innovative and entrepreneurial Society Innovation Support (Technology commercialization offices/centres, S&T parks, Incubators, clusters,networks) Industry and Business community (Manufacturers, Service providers, customers) Web of Interaction Academia (Universities, RIs, TVETs) Financial Sector (Venture capitalists, Banks, Business angels, investors) Government (Policy coordination, regulatory and administrative environment, R&D Funding) 13

14 iii. ROLE OF INSTITUTIONS OF HIGHER LEARNING Recognize that wealth is generated through creating and harnessing the value of knowledge. Embrace the complete cycle of innovation and entrepreneurship: Generation, utilization, dissemination and translation of knowledge. Provide solutions through real world experiences Generate Knowledge Translate Knowledge (Innovation and Entrepreneurship)) Disseminate Knowledge 14

15 Generate adequate human capital taking in to account quality and relevancy to the needs of the country. Ensure provision of a complete human resource pyramid to move national ST&I agenda Champions Advisors Popularisers Planners Managers Educators Practitioners 15

16 iv. SMART PARTNERSHIPS AND COLLABORATIONS Global Partnerships and collaborations enhance access to international frontiers of science and technology Interact to Secure high levels of scientific advances and technological progress >>> Connect Globally to Develop Locally and Regionally 16

17 iv. POLITICAL COMMITMENT Bedrock without which the desired socio-economic transformation cannot be achieved. Allocation of funds Provision of suitable environment To ensure generation of innovative human capital and effective implementation of national ST&I agenda in line with Policy 17

18 BUILDING AND SUSTAINING AN INNOVATIVE & ENTREPRENEURIAL CULTURE: GETTING IT RIGHT 18

19 i. Team work: Always understand that everyone matters, therefore MUST seek to work together with others. 19

20 ii. Be Solution oriented: Focus on creating solutions and not on avoiding failure. Should expect and accept failures may come but be willing to persevere.

21 iii. Be Customer driven: Understand that Customers are key Customers validate ideas to have value. 21

22 iv. Must Learn and adhere to policy and regulations iv. Be Honest and transparent vi. Ensure clarity in communication: Must communicate your ideas clearly. 22

23 vii. Networking and connectivity: Avoid insulation and seek ways to partner with others globally. Sharing information increases ones ability to fill in knowledge gaps. No man is an Island, entire of itself; every man is a piece of the Continent, a part of the main John Donne ( ), Meditation XVII 23

24 Do not be encumbered by history. Go off and do something wonderful. -Dr Robert Noyce, Intel Co-founder ( ) 24

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