I often get asked about the pace of innovation in different countries or their ability to innovate. Many such questions come from people whose awareness of global issues is sadly lacking and who represent so called developed countries. The answer I give to them is the same as the one I give to those in less developed countries who are seeking inspiration and motivation for their efforts.
My own personal definition of Innovation is purely based on Human Capital so I choose a metaphor that involves people. Think of Innovation as a race, but with a difference. Some runners have an advantage in that they start further ahead, perhaps because of a time or resource advantage and some start with varying degrees of disadvantage.
Those initially at the front may be well trained and have the latest sparkly gear but they are running almost as fast as they can – improvements being measured only in small amounts. Our runners at the rear will acquire the trappings of leading athletes such as running gear, coaches etc in due course.
There are still two very important factors to consider. How long is the race and how fast can those at the back run? The race we are in is, I believe, a long one with sustainability and resilience to crises being key. So, the longer race will provide greater opportunity for less developed countries to narrow the gap. If their natural talent is greater than developed countries, the race could be close.
My word of warning to those in the lead currently is never underestimate the opposition and look over your shoulder once in a while. My words of encouragement to those at the rear is to believe in your talent.