presentation done by mark t mc cord

The Road to Prosperity is Paved with

Innovation: Embracing the Prosperity

Pathway

By

Mark T. McCord, CCE

Senior Manager

TCI Global Competitiveness Confernce:

Delhi, India

Fear the Box

It is safe to

think and

operate inside operate inside

the box….but

will it promote

innovation and

prosperity?


Delhi, India

The Answer is Outside the Box but Most People

Never Find It

Thinking and

acting outside the

box is important,

but when but when

challenges arise,

most people go

back to the box

where it is safe

and there is little

risk.


Delhi, India

The Secret to Innovation: Get Rid of

the Box

When you get rid

of the box, there

is no security on

which to rely.

You have to You have to

embrace

innovation, take

risks, and be

accountable.


Delhi, India

What is innovation?• Knowledge and competence

used in a manner that is

new to the economy or

society


Delhi, India

What is Prosperity?

Prosperity is wealth of

spirit…it includes money,

education, quality of life, education, quality of life,

freedom,

empowerment, and

much more.


Delhi, India

Linking Innovation and Prosperity

• If it isn’t broken, fix it

anyway.

• Begin with the end in

mind.

• Acceleration is the key.

• Beware: Innovation’s

“dirty little secret”.


Delhi, India

The Pathway to Prosperity

• Innovation drives productivity.

• Productivity builds competitiveness.

• Competitiveness creates prosperity.

• Prosperity is sustained through innovation.• Prosperity is sustained through innovation.


Delhi, India

The Prosperity Pathway’s Importance

• Prosperity creates

economic, social, and

political stability.

• Countries must continue

to innovate to sustain

prosperity.

• Innovation must permeate

society.


Delhi, India

Challenges to Innovation in Emerging

Markets

• Lack of educational attainment.

• Unstable business environments.

• Weak information infrastructure.

• Unwillingness to take risks.• Unwillingness to take risks.

• Lack of financial capacity for

commercialization.

TCI Global Competitiveness

Confernce: Delhi, India

The Path to Innovation for Emerging

Markets

• EMs must improve the welfare of their citizens in

terms of health and quality of life.

• EMs must develop competitive industries.

• EMs should utilize foreign technologies to build local • EMs should utilize foreign technologies to build local

knowledge.

• EMs should focus on the adoption of national

innovation strategies to promote specific targeted

actions that will result in prosperity.



Path to Innovation for Emerging

Markets

• EMs must stimulate enterprise innovation.

• EMs must create flexible and autonomous

agencies to support productivity,

competitiveness, and innovation.competitiveness, and innovation.



Innovation Methodology

• Develop a strategy both on the national level and in targeted

sectors.

• Develop a world-class workforce that supports the strategy.

• Develop a practical mechanism to support the strategy.

• Develop a supportive enabling environment.• Develop a supportive enabling environment.

• Support business development.

• Support research and development.

• Provide access to financing.


Delhi, India

What are Innovation Clusters?

Consist of public sector, private sector,

academia, donor, and NGO representatives

that are committed to strategic and broad-

based ACTION to build a culture of innovation based ACTION to build a culture of innovation

that will lead to prosperity.



A Cluster is an Eco-System

Innovation clusters are

eco-systems that are

born, mature, and

eventually transform or

cease to exist. They



cease to exist. They

exist while there is a

need…devoid of

hierarchy and rigid

structure.

These are not Your Father’s Clusters!

• Industrial clusters value “output”, innovation

clusters value “throughput”.

• Industrial clusters were about

production, innovation clusters are about production, innovation clusters are about

knowledge.

• Industrial clusters were spatial, innovation

clusters are global.

• Industrial clusters created the box, innovation

clusters tear up the box.



Innovation Clusters Are…..

• Eco-systems that have a life cycle and are strengthened by individuals and

organizations that support innovation and prosperity.

• Designed to connect ideas, individuals, organizations, and resources both

within and outside Jordan to implement a plan based on five areas of

focus.

• Mechanisms to create synergy between individuals, government, • Mechanisms to create synergy between individuals, government,

organizations, academia, and international support organizations.

• Managed by train professionals that will serve as guides, facilitators, and

economic developers to help each cluster achieve its goals.



Innovation Clusters are Not…..

• Registered organizations that have hierarchy, bylaws,

and a governance structure.

• Platforms for individual interests.

• Money pits.• Money pits.

• Duplicative of programs or organizations that are

already doing great things.

• Another mechanism to strategize and complain.



Ideas open for

collaboration

with others

Ideas are

Best ideas

rise to the

top

Communities

grow around

Strategy

Developed

Start

Stakeholders at all

levels participate

and collaborate

Ideas

captured

and sorted

Integrating Innovation Into Clusters

Ideas are

rated

topgrow around

ideas

People are

recognized

Ideas

executed

Deliver

Cluster connects ideas

with potential sources

of financing and

technical assistance to

ensure implementation.

Cluster refines program and defines the next, more focused

innovation challenges

Don’t Stop Thinking About Tomorrow

Be curious. Do not accept the status Be curious. Do not accept the status

quo. Eradicate the phrase “This is the

way it is done in Jordan” from your

vocabulary.


Delhi, India

Conclusions on Innovation and

Prosperity

• Prosperity trickles down not up.

• Innovation is like cellular division.

• Every day without innovation is another day of

falling behind.falling behind.


Delhi, India

Questions?Questions?


Delhi, India

presentation done by mark t mc cord

Business