Innovation key to growth says expert

Abu Dhabi, November 24, 2011

Innovation correlates with productivity growth which is associated with international competitiveness, according to an expert.

New technology and practices are key to GDP per capita growth, said Dr Kamiel Gabriel, research division manager at Abu Dhabi Education Council.

‘The decisive ‘factor of production’ now is neither capital nor land nor labour – it is a knowledge-based society that excels in innovation,” he said at the Insead Policy Breakfast.

The seminar titled ‘Innovation in Higher Education: Pathway to Building an Innovation-driven Society,’ was hosted by Insead, a leading international business school, along with the Abu Dhabi Education Council (Adec).

He argued that in a knowledge-based economy, science is an essential resource that delivers “supply”; while society delivers “demand”. 

"Education alone is not enough to foster economic growth; education needs be relevant and delivered in the most effective way, and this is why we need to continue updating our educational systems,” added Dr Sami Mahroum, academic and executive director, innovation and policy initiative, Insead.

Insead’s Policy Breakfasts are a series of early morning seminars that focuses on current policy issues through the lenses of academics and practitioners in industry and government.  The series is aimed at professionals concerned with government policy. – TradeArabia News Service

Tags: growth | innovation | Insead |