LECTURE 6: THE INSTITUTIONAL ASPECT OF NSI
by
Dr. Olga Mikheeva, UCL Institute for Innovation and Public Purpose, UK
&
Dr. Manuel Gonzalo, Universidad Nacional de General Sarmiento, Brazil.
CHAIR:
Professor Joseph K.J., Gulati Institute of Finance and Taxation (GIFT), India
B. Å. Lundvall | Alan Freeman
07 Jan, 2:00 pm – 3:00 pm GMT
Online
LECTURE 1: FREEMAN CENTENARY LECTURE 'Innovation System Research and Economic Development '
by
Professor Bengt-Åke Lundvall, Aalborg University, Denmark.
The session is chaired by Professor Alan Freeman, Director - Geopolitical Economy Research Group (GERG).
Rajesh G.K. & Swati M. | Francisco Louça
21 Jan, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE -3: ORIGINS OF INNOVATION SYSTEMS
by
Dr. Rajesh G.K. Gandhigram University, India
&
Dr. Swati Mehta, Guru Nanak Dev University, India.
CHAIR:
Professor Francisco Louça, ISEG University of Lisbon
+240 more
Innovation and creativity produce new technology, entrepreneurship turns ideas and innovations into manifest everyday practice. It can be argued that entrepreneurship is the process by which the future is created from ideas and innovations. This study unit will use the creation of a new venture as a method of entrepreneurship, so called Quasi-Enterprise model of Private-Public-Partnership. The course will simulate the development of a new venture through the creative practices of the participants. In the process key theories and ideas will be presented and discussed. The structure is designed to support the kind of learning required, a cognitive structure emphasizing key concepts, themes and intellectual abilities. The module covers some fundamental concepts and trends in research in the field. Linkages are made with innovation, creativity and foresight. The module then explores the processes of entrepreneurship in the discovery, evaluation, and the exploitation of opportunities. This follows a logical sequence from initial ideas and innovation through the emergence and evaluation of the opportunity into a planned and shaped activity and into the implementation process.
João Tavares & Verónica R. | Giovanni Dosi
13 Jan, 2:00 pm – 3:00 pm GMT
Online
LECTURE-2: The Economics of Technological Change
by
Dr. João Marcos Hausmann Tavares, Universidade Federal Fluminense, Brazil
&
Dr. Verónica Robert, CONICET - UNSAM, Argentina.
CHAIR:
Professor Giovanni Dosi, Institute of Economics Scuola Superiore Sant'Anna, Pisa.
Moderator: Dr. Nanditha M.
Lourenço F. & Nimita P. | Edward Lorenz
28 Jan, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE-4: THEORETICAL FOUNDATIONS OF NATIONAL SYSTEMS OF INNOVATION
by
Dr. Lourenço Galvão Diniz Faria, Copenhagen University, Denmark.
&
Dr. Nimita Pandey, Indian Institute of Science, Bangalore.
CHAIR:
Professor Edward Lorenz, Aalborg University, Denmark & University of Johannesburg, SA.
+177 more
LECTURE 6: THE INSTITUTIONAL ASPECT OF NSI
by
Dr. Olga Mikheeva, UCL Institute for Innovation and Public Purpose, UK
&
Dr. Manuel Gonzalo, Universidad Nacional de General Sarmiento, Brazil.
CHAIR:
Professor Joseph K.J., Gulati Institute of Finance and Taxation (GIFT), India
B. Å. Lundvall | Alan Freeman
07 Jan, 2:00 pm – 3:00 pm GMT
Online
LECTURE 1: FREEMAN CENTENARY LECTURE 'Innovation System Research and Economic Development '
by
Professor Bengt-Åke Lundvall, Aalborg University, Denmark.
The session is chaired by Professor Alan Freeman, Director - Geopolitical Economy Research Group (GERG).
Rajesh G.K. & Swati M. | Francisco Louça
21 Jan, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE -3: ORIGINS OF INNOVATION SYSTEMS
by
Dr. Rajesh G.K. Gandhigram University, India
&
Dr. Swati Mehta, Guru Nanak Dev University, India.
CHAIR:
Professor Francisco Louça, ISEG University of Lisbon
+240 more
Innovation and creativity produce new technology, entrepreneurship turns ideas and innovations into manifest everyday practice. It can be argued that entrepreneurship is the process by which the future is created from ideas and innovations. This study unit will use the creation of a new venture as a method of entrepreneurship, so called Quasi-Enterprise model of Private-Public-Partnership. The course will simulate the development of a new venture through the creative practices of the participants. In the process key theories and ideas will be presented and discussed. The structure is designed to support the kind of learning required, a cognitive structure emphasizing key concepts, themes and intellectual abilities. The module covers some fundamental concepts and trends in research in the field. Linkages are made with innovation, creativity and foresight. The module then explores the processes of entrepreneurship in the discovery, evaluation, and the exploitation of opportunities. This follows a logical sequence from initial ideas and innovation through the emergence and evaluation of the opportunity into a planned and shaped activity and into the implementation process.
João Tavares & Verónica R. | Giovanni Dosi
13 Jan, 2:00 pm – 3:00 pm GMT
Online
LECTURE-2: The Economics of Technological Change
by
Dr. João Marcos Hausmann Tavares, Universidade Federal Fluminense, Brazil
&
Dr. Verónica Robert, CONICET - UNSAM, Argentina.
CHAIR:
Professor Giovanni Dosi, Institute of Economics Scuola Superiore Sant'Anna, Pisa.
Moderator: Dr. Nanditha M.
Lourenço F. & Nimita P. | Edward Lorenz
28 Jan, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE-4: THEORETICAL FOUNDATIONS OF NATIONAL SYSTEMS OF INNOVATION
by
Dr. Lourenço Galvão Diniz Faria, Copenhagen University, Denmark.
&
Dr. Nimita Pandey, Indian Institute of Science, Bangalore.
CHAIR:
Professor Edward Lorenz, Aalborg University, Denmark & University of Johannesburg, SA.
+177 more
Clark's Model is an Economic theory/hypothesis that provides a description of three type of activities (Primary Sector, Secondary Sector, Tertiary Sector, Quaternary/Quinary Sector) essential to all societies
1. What is Creative Destruction?
a. Creative Destruction and Marxism
b. Creative Destruction and Schumpeter
c. Creative Destruction and Laissez-Faire Economics
2. Cases of Creative Destruction
3. Problems of Creative Destruction
4. Creative Destruction vs Economic Destruction
26 Feb, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE-8: APPLICATION OF NATIONAL SYSTEMS OF INNOVATION
by
Dr. Kenneth Fung, UOW Malaysia KDU
&
Dr. Gifty Boakye Appiah, KNUST, Kumasi, Ghana.
CHAIR:
Professor Mammo Muchie, Tshwane University of Technology, South Africa
Clark's Model is an Economic theory/hypothesis that provides a description of three type of activities (Primary Sector, Secondary Sector, Tertiary Sector, Quaternary/Quinary Sector) essential to all societies
1. What is Creative Destruction?
a. Creative Destruction and Marxism
b. Creative Destruction and Schumpeter
c. Creative Destruction and Laissez-Faire Economics
2. Cases of Creative Destruction
3. Problems of Creative Destruction
4. Creative Destruction vs Economic Destruction
26 Feb, 2:00 pm – 3:00 pm GMT
ZOOM online
LECTURE-8: APPLICATION OF NATIONAL SYSTEMS OF INNOVATION
by
Dr. Kenneth Fung, UOW Malaysia KDU
&
Dr. Gifty Boakye Appiah, KNUST, Kumasi, Ghana.
CHAIR:
Professor Mammo Muchie, Tshwane University of Technology, South Africa
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All of this illustrated with link prediction over knowledge graphs, but the argument is general.
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Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
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If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
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The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
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Session Overview
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Wbb mit 2010_class_1_pt_o---ry_innovation_role
1. CLASS I –
THE DRIVERS BEHIND SCIENCE
AND TECHNOLOGY SUPPORT
William B. Bonvillian
Director, MIT Washington Office
Seminar
FUNDAMENTALS OF SCIENCE AND
TECHNOLOGY PUBLIC
POLICYMAKING
2. Opening -
• Class Organization: Aim of class – summary of syllabus
• Your backgrounds, interests; Mine
• What do you want to get from class?
• One Key – you talk, you don’t learn unless you talk, and talk to each other
not just me –
• have to read - need you in the discussion
-------
• Innovation is about people – people not institutions innovate - Craig
Venter story
-------
• Points in Class One: review Solow and Romer – basic growth theory;
Jorgenson – role of innovation in 90’s;
• Merrill Lynch – way investors look at innovation for investment
• Note emerging debate on comparative advantage of competitor nations
• Review 2 elements of DIRECT innovation policy – R&D and Education
• Review elements of INDIRECT innovation policy
• Look at Innovation as an ecosystem
• Look at the “valley of death” between R&D
3. General Background - Definitions
• Science – understanding the natural world – out of “natural philosophy” of
the 16th-19th centuries – observes natural world – discovery oriented
th th
• Technology – System to organize scientific and technical knowledge to
achieve a practical purpose – “systems” include technical advance plus
models to implement that advance – moves from observation to
implementation
• Research – increasing scientific OR technical knowledge or both
• Invention – applying research knowledge to create a practical idea/device
• Innovation – built on scientific discovery and breakthrough invention(s) – is
the system of Research, Invention, & Development using both science and
technology to commercialize (spread advances into societal use) –
• or: “intersection of invention and insight leading to the creation of social and
economic value” (NII)
• Innovation System – the ecosystem for developing innovation – operates at
2 levels: the institutional actors, and the face-to-face groups
• Innovation Wave – 40/50 year cycle of innovation based on radical,
breakthrough, disruptive invention, then applications piled on this,
productivity rises, then long period of incremental invention
• “Valley of Death” – where invention and innovation usually dies - gap
between research and development – institutions often not in place to
bridge this gap, and move idea into development prototyping and
production, then invention into innovation
[source for some of these – Prof. Charles Weiss, G’town]
4. Relationship Between Science and
Technology:
* Before mid-19th century – technology based on
“tinkering” not science – telegraph, RR - early
technology gives rise to early technology
*Now: basic science gives rise to technology –
lasers
•but Dr. Lee Buchannan, ex-DARPA Deputy
Director– “I get nothing from basic science –
could drop that science funding and never
miss it”
* Now: technology gives rise to science – IBM
scanning tunneling microscope, nanotechnology
6. Robert M. Solow – Growth Theory
(NY, Oxford Univ. Press 2000)
- Prof. of Eco., MIT, Nobel Prize 1987, Nat’l Medal Tech.
• Solow Attacks Classical Economic Theory – of
Roy Harrod, Evsey Domar:
– Q: When is an economy capable of steady growth?
– Classical Answer: When national savings rate (income
saved)= capital/output ratio + rate of labor force
growth
• Have to keep capital plant and equip. in balance
with labor supply
• Static view: 3 factors – labor supply/capital
supply/savings rate – have to fix these rations
into balance
• Capitalism: just periods of alternating worsening
unemployment and labor shortages
7. 2. Solow’s Rethinking:
• Solow: “the story told by these [Classical]
models felt wrong”
• Harrod had a hint – vague generalizations about
“entrepreneurial behavior”
• Classical Model: recipe for doubling rate of
growth was simply to double the national
savings rate, perhaps through the public budget
(Keynes) – throw money at it
• Economic development: Classical: “key to
transition from slow growth to fast growth was
sustained growth in the savings rate”
• But Solow: “ I thought about replacing the
capital and labor output “with a richer and more
realistic representation of technology” – a new
theory of production not just output levels
8. 3. Solow’s Basic Finding:
• The Rate of growth is independent of the
savings (investment) rate
• Old “growth theory was mechanical” – simply
“a description of flows and stocks of goods”
• Solow’s finding of “technological flexibility…
opened up growth theory to a wider variety of
real world facts”
-----
• Basic Growth theory – Solow in 1957:
– “Gross output per hour of work in the US doubled
between ’09 and ’49’ [productivity gain]
– “7/8’s of that increase could be attributed to
‘technical change in the largest sense’”
– “all the remaining 1/8 could be attributed to a
conventional increase in capital intensity
9. 4. Unpacking Solow – Dennison:
• Reviewed US growth ’29-’82 to break out Solow’s
broad term “technical progress”:
– 25% increased labor output
– 16% increased education qualification of average worker
– 12% growth of capital [same as Solow]
– 11% “improved allocation of resources” [ex.- shift of labor
from agriculture to high productivity industry]
– 11% economies of scale
– 34% growth of knowledge or technical progress [Dennison’s
narrow definition]
Total: 109% [extra 9% is misc.factors that reduce growth]
Dennison basically confirms Solow’s broad “technical progress”
total
Solow reduces Dennison’s factors to 3 broad factors
- “straight labor”, “straight capital” and “technical change”
- argues that technology and related innovation is 2/3’s of
growth
- “technology remains the dominant engine of growth” –
human capital (talent) is part of that and in second place
10. 5. TRANSLATION OF SOLOW:
• Solow attacks classical economics and transforms growth
theory – sees capitalism and growth as dynamic
• We see his point – RR’s canals electricity telegraph,
telephone, aerospace, computing, internet, all transform
growth
• Pattern: initial technology advance – yields new
applications, which pile on to broaden the advance –
which yields productivity gains throughout economy –
which yields real growth in wages, income
• Solow’s basic point about classical economics: “No
amount of statistical evidence will make a statement
invulnerable to common sense”
• The good news: you can increase your rate of economic
growth through technological advance – you can
improve real incomes/societal wellbeing
11. 6. Under Solow, what is the role of
Capital? -- A Supporting Player
• “technological progress …could find its way into actual production
only with the use of new and different capital equipment”
• Therefore the effectiveness of innovation in increasing output would
be paced by the rate of gross investment”
• So: much faster transfer of new technology into production with
investment
-----
• Comment: Q-what kind of investment? Angel, Venture Capital IPO’s,
general equity, lending? Which types, which mix, most impt. to
innovation?
• And doesn’t technical advance yield investment, not just the other
way around? ie, VC sitting out the last 4 years
-----
• Comment: Boom & Bust: Periods of boom and stagnation can and
do appear due to Keynesian and classical unemployment – Q: can
accelerating the rate of technological advance/innovation reduce the
“bust’ period?
– Implication: innovation capacity is a key
– A healthy innovation system is a key to growth
12. 7. Solow - Exogenous Growth
• Solow sees the power of technological advance
as an economic force, but he doesn’t see how to
measure it
• He’s stuck with the traditional toolset of both
classical and neoclassical economics - capital
supply and labor supply measures and market
movements
• He’s not ready to measure innovation system
elements
• He therefore treats tech innovation as
“exogenous” - as outside the understood
economic system and outside of metrics
13. 8. Solow’s Warning:
* Ex. – there was little economic growth in
medieval Europe because so little technical
advance – economy was a capture economy --
piracy, war were ways to capture wealth
* Solow Quoting Frost:
“Most of the change we think we see in life is
due to truths being in an out of favor”
* p.xxvi: ‘social institutions and social norms
evolve… so economic behavior will surely evolve
with them”
* So: “the permanent substructure of applicable
economics cannot be so very large”
14. Paul M. Romer – Prof. of Economics,
Stanford --“Endogenous Technological Change”
(Journal of Political Economy, vol 98, pp. 72-102 (1990)
BASIC POINTS
• Growth model – growth is driven by technological change
• which is driven by researchers who are profit maximizing agents
at the immediate pre-commercial stage
• Technology is not a conventional good and not a “public good” –
it is a “non-rival” potentially excludable good, so it won’t support
price-taking competition, it’s more like monopolistic competition
• The stock of human capital (talent) determines the rate of growth
• Given that role, too little human capital is devoted to research (the
major input into technology, so behind growth)
• Growth theory is therefore ENDOGENOUS - part of the economic
system not outside it
• Integration into world markets increases access to human capital
and technology and therefore increases growth
• A large population is not enough to generate growth, the key is the
size of human capital (talent)