Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

World Bank Group : Inclusive Innovation for Inclusive Growth

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/12/2013 | 08:27am CET

World Bank advises China on development of an inclusive innovation strategy

BEIJING, December 12, 2013 - As inclusive innovation can expand poor people's access to basic goods and service, a new report advises policymakers to develop a strategy to promote inclusive innovation in China. Inclusive innovation is any innovation that leads to affordable access to quality goods and services for the poor on a sustainable basis and with extensive outreach.   

Inclusive Innovation for Sustainable Inclusive Growth, a joint study by the World Bank and the State Information Center (SIC) of China, aims to help build awareness and set the stage for the potential implementation and operationalization of inclusive innovation policy in China. The report introduces the concept of inclusive innovation and its relevance for China, discusses the country's current landscape for inclusive innovation, presents international experience and examples, and outlines some policy options for consideration by the Chinese authorities.

"Inclusive innovation is of high relevance for China, but the concept is only now recognized," said Klaus Rohland, World Bank Country Director for China. "While China has emphasized frontier innovation so far, more efforts can be made in pursuing inclusive innovation to address the increasing disparity in access to basic goods and services."

An "inclusive innovation strategy" is a set of policies that connects excluded populations to a nation's innovation system. It complements frontier innovation by increasing the purchasing power and enhancing income-generating opportunities for the poor population.

"Inclusive innovation will be an important complement to China's national innovation system. It is crucial to the bottom-up approach of indigenous innovation," said Pu Yufei, Director-General of SIC's Comprehensive Management Department.

Public support should focus on the creation of a functioning innovation infrastructure. The role of the government should be to facilitate, support, incentivize and leverage the strengths of all stakeholders in order to create sustainable inclusive solutions with significant outreach at maximum efficiency with the least possible burden on the public resources. Contributions from the private sector, the research and academic community, NGOs, and global partnerships - as well as the poor population itself are essential to an effective inclusive innovation system.

"China has a strong enabling environment for inclusive innovation. But it also needs to expand in scope, coverage, quality, and efficiency to sufficiently serve other disadvantaged groups such as migrant workers," said Wang Jun, World Bank Lead Financial Specialist and task team leader of the report. "As the key provider of public services, the government could benefit from pursuing a well-articulated inclusive innovation strategy and use inclusive innovation as a powerful tool to significantly reduce the burden on the fiscal budget and improve the supply of affordable quality basic goods and services," he added.

The report lays out some potential options for the public policy interventions including:

  • An integrated national inclusive innovation policy and required institutional systems;
  • A facile regulatory system and supportive public procurement policy;
  • A dedicated fund to support inclusive innovation including private risk capital for pro-poor solutions;
  • Incentives to leverage strengths and comparative advantages of all stakeholders, especially the private sector;
  • Mandates for public research system to channel the very best technical and scientific expertise towards inclusive innovation;
  • Dedicated support to grassroots innovators to deepen and expand their innovation capacity;
  • Collaboration with national, regional and global STI organizations to leverage global talent, technology and resources; 
  • Grand Challenge and recognition for game changing inclusive innovations to target specific goals- encouraging risk taking, experimentation and recognizing failures; and
  • Independent and regular monitoring and assessment of policies and programs to maximize efficiency and impact, and benefit from lessons learned. 

The report was presented and discussed at a joint workshop organized by the World Bank and SIC in Beijing on December 11, 2013.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
04:04p DGAP-AFR : KPS AG: Vorabbekanntmachung über die Veröffentlichung von Finanzberichten gemäß § 37v, 37w, 37y WpHG
04:04p DGAP-AFR : KPS AG: Preliminary announcement of the publication of financial reports according to Articles 37v, 37w, 37y of the WpHG
04:04p BROOKFIELD ASSET MANAGEMENT INC. : Notice of 2016 Q4 Results Conference Call and Webcast
04:04p 44 Iconic Hotels Inducted into Historic Hotels Worldwide in 2016
04:03p ALTAGAS : Canada's AltaGas to jointly build natgas processing plant
04:03p DIRECTOR DEALINGS : Two AVEVA Non-Executive Directors Buy Shares
04:02p Euro zone consumer confidence rises less than expected in January
04:02p Wireless Charging Market Report 2017 - Global $37.2 Billion Opportunity Analysis and Industry Forecast 2014-2022 - Market to Grow at CAGR of 44.7% - Research and Markets
04:02p EarthWater Sponsors "Big D Climb" Supporting Leukemia & Lymphoma Society and Blood Cancer Research
04:01p REPORT : (Special Security Division established to protect CPEC projects)
Latest news
Advertisement
Hot News 
-8.15%LAMPRELL : Rig builder Lamprell sees lower revenue, tightens purse strings
-2.12%PHILIPS LIGHTING : sees brighter 2017 as fourth-quarter profit disappoints
-2.51%ESSENTRA : sees full-year operating profit near lower end of forecast
1.10%HAMMERSON : Sainsbury's chairman reprimanded for using employee on country home
2.37%ANGLO AMERICAN : sees incremental gains as trading unit hits cruising speed
Most Read News
04:07a SAMSUNG ELECTRONICS : says batteries caused Note 7 fires, may delay new phone launch
09:35a TRUMP TO COMPANY EXECUTIVES : We think we can cut regulations by 75 percent
12:16aDJNEWS HIGHLIGHTS : Top Energy News of the Day
08:38a MCDONALD : fourth-quarter U.S. comparable sales fall less than expected
01:31a CGG : Reduction of certain vessel charter cash costs and related issuance of $58.6 million of senior notes
Most recommended articles
01/17DJS&P 500, Nasdaq Futures -- Technical Analysis
09:55a DOW JONES INDUSTRIAL AVERAGE : Oil falls as signs of U.S. output rise overshadow OPEC-led cuts
09:43a TSX falls as lower oil weighs on energy stocks
09:35a TRUMP TO COMPANY EXECUTIVES : We think we can cut regulations by 75 percent
09:34a BLACKSTONE LP : Canada's Trudeau, ministers to discuss Trump plans for NAFTA