[Challenge:Future] Innovate and Inspire


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[Challenge:Future] Innovate and Inspire

  1. 1. Innovate & InspireTeam Name: Dig this…Team Leader: Gayathri Kamarajan (Anna University, India)Team Members: Prashanth Prakash (Anna University, India)Selected EE : SloveniaCountry
  2. 2. EASTERN EUROPE(EE) After analyzing the Macro Economic condition things were clear. With the increase in ICT and globalization, the only issue we and the future are going to face is a sustainable living.What`s there in EE?People: The workforce here is well educated and more productive. They are ambitious and fluent in foreign languages.Technology: A lot of people think that Eastern Europe has less technological advancements. However, these countries are technically advanced when compared to WestServing as a host for an attractive market of the future, Eastern Europewill have successful organizations in the years to come
  3. 3. WHY SLOVENIA? High Purchasing Power (About 90% of EU average) An excellent geographical position serving as a gateway to South EastEurope. Hydroelectricity (Slovenia has one of the richest water resources in Europe)and Nuclear energy are its powerful assets The first country to undergo a transition from borrower status to a donorstatus in 2007 Most of the revenue generated are from offering services and Tourism
  4. 4. PROBLEMS OF SLOVENIA (EE) Less Financial Less Freedom Competition Brain Drain No (or) Less Local Clients Uneven Structural Bureaucracy reforms Issues Less Investment Low Labor in R & D Freedom High Drop-out rate Productivity Gap (almost 15%)
  5. 5. These Highlights are from various online sources where we studied about Slovenian economic Condition “The banking system remains fragile The Bank of Slovenia uses the threat of fines to despite the second recapitalization of force its foreign scholarship holders to return. the largest bank in June,” the European Getting experienced Slovenians to return to Commission Slovenia or at least collaborate with Slovenia is something that needs to be motivated, not compelled.According to Dr Aljaž Ule, assistant professor at the Faculty With no minimum capitalof Economics and Econometrics at the University of required, launching a businessAmsterdam and the Faculty of Mathematics, Science and takes only six days, but it stillInformation Technology at the University of Primorska. The takes almost 200 days toproblem has a lot to do with brain return. complete all of the necessary licensing requirements. Economic expert Ales Ahčan pointed out the lack of structural reforms (pension, health, tax), resulting in Slovenia, in his opinion uncompetitive.
  6. 6. Economist Joze Damjan expressed that the fallin GDP by expecting somewhat surprising as itseems "dramatic scale of the decline ineconomic activity." This is lower by 2.8percent, resulting in a negative year."As long as we levy a superior best draft horse,we will lose these towing horse and even morebehind the majority" Src: http://www.heritage.org/index/country/sloveniaExpenditure on R&D as % of GDP: 2,1 (2010)Gross expenditures on R&D (GERD) (mio EUR) 746 (2010)Number of research organizations: 630 (2010)R&D personnel in head count: 17.972 (2010)Researchers in FTE: 7,7703 (2010)Researchers (FTE) per 1000 persons in employment: 9.4 (2010)Source: Statistical Office of the RS (Slovenia in Figures publications)The above graph shows the comparison of the Investment freedom of UK (Blue) VsChina (Green) and Slovenia (Red) The black dots represent the world average
  7. 7. Vision for Future SloveniaAs the title of the vision says Innovate and Inspire, the slovenian economy has tofind new innovation methods in order to sustain in the future.Innovation can happen anywhere at any time and can be done by anybody. Allthey need is a little inspiration and focus.Companies have now started to focus on managing energy efficiently andcreating sustainable solutions.In a data driven era, emerging technologies such as green engineering andBiomimicry are expected to pave way for a sustainable future.
  8. 8. Its easier to fight for a principle than to live up to them – Alfred Adler Instead of fighting for a sustainable future, we must have to take a step forward for executing them With the help from Local people and co-operation from professionals, an innovative idea can turn into a successful Business organization The organization that helps in innovation must also inspire people to apply it.Image Src: www.therightplanet.com
  9. 9. Future SloveniaA lot of online courses that are available must be used effectively. Educateyourself in the field you wish and come up with innovative ideas and inspire othersto do soForm a local group and brainstorm ideas for creating a successful organizationThe group has to meet regularly and come up with ideas which are feasible toimplement Better FutureLocal development Better Communication Sustainable Solutions methods