The road to prosperity is paved with innovation

2. 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

3. Fear the Box
It is safe to
think and
operate insideoperate inside
the box….but
will it promote
innovation and
prosperity?
TCI Global Competitiveness Confernce:
Delhi, India

4. The Answer is Outside the Box but Most People
Never Find It
Thinking and
acting outside the
box is important,
but whenbut when
challenges arise,
most people go
back to the box
where it is safe
and there is little
risk.
TCI Global Competitiveness Confernce:
Delhi, India

5. 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 toYou have to
embrace
innovation, take
risks, and be
accountable.
TCI Global Competitiveness Confernce:
Delhi, India

6. What is innovation?
• Knowledge and competence
used in a manner that is
new to the economy or
society
TCI Global Competitiveness Confernce:
Delhi, India

7. What is Prosperity?
Prosperity is wealth of
spirit…it includes money,
education, quality of life,education, quality of life,
freedom,
empowerment, and
much more.
TCI Global Competitiveness Confernce:
Delhi, India

8. 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”.
TCI Global Competitiveness Confernce:
Delhi, India

9. The Pathway to Prosperity
• Innovation drives productivity.
• Productivity builds competitiveness.
• Competitiveness creates prosperity.
• Prosperity is sustained through innovation.• Prosperity is sustained through innovation.
TCI Global Competitiveness Confernce:
Delhi, India

10. The Prosperity Pathway’s Importance
• Prosperity creates
economic, social, and
political stability.
• Countries must continue
to innovate to sustain
prosperity.
• Innovation must permeate
society.
TCI Global Competitiveness Confernce:
Delhi, India

11. 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

12. 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.
TCI Global Competitiveness
Confernce: Delhi, India

13. 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.
TCI Global Competitiveness
Confernce: Delhi, India

14. 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.
TCI Global Competitiveness Confernce:
Delhi, India

15. 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 innovationbased ACTION to build a culture of innovation
that will lead to prosperity.
TCI Global Competitiveness
Confernce: Delhi, India

16. A Cluster is an Eco-System
Innovation clusters are
eco-systems that are
born, mature, and
eventually transform or
cease to exist. They
TCI Global Competitiveness
Confernce: Delhi, India
cease to exist. They
exist while there is a
need…devoid of
hierarchy and rigid
structure.

17. These are not Your Father’s Clusters!
• Industrial clusters value “output”, innovation
clusters value “throughput”.
• Industrial clusters were about
production, innovation clusters are aboutproduction, innovation clusters are about
knowledge.
• Industrial clusters were spatial, innovation
clusters are global.
• Industrial clusters created the box, innovation
clusters tear up the box.
TCI Global Competitiveness
Confernce: Delhi, India

18. 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.
TCI Global Competitiveness
Confernce: Delhi, India

19. 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.
TCI Global Competitiveness
Confernce: Delhi, India

20. 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

21. Don’t Stop Thinking About Tomorrow
Be curious. Do not accept the statusBe curious. Do not accept the status
quo. Eradicate the phrase “This is the
way it is done in Jordan” from your
vocabulary.
TCI Global Competitiveness Confernce:
Delhi, India

22. 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.
TCI Global Competitiveness Confernce:
Delhi, India

23. Questions?Questions?
TCI Global Competitiveness Confernce:
Delhi, India