Book #3 – Innovation Nation

A few days ago I finished my 3rd book in the past 6 weeks – I am on a tear! Innovation Nation written by John Kao delivers a message about the urgent requirement for a comprehensive strategy to reignite the innovative engine of the United States. He feels alarmed by the nation’s ever-duller cutting edge. He delivers clear examples of nations who in the latter half of the 20th century have caught up and surpassed the economies of established players in the global landscape. For example, Singapore has sprinted ahead of far larger countries that lack the island nation’s disciplined commitment to innovation leadership. Singapore’s Bipolis research center is run by Philip Yeo who is also know as the serial kidnapper. He seeks out eager, young high-tech students, who come to Singapore from all over the world, and offers them scholarships to the best U.S. and European universities. They receive $750K USD over 5 years of study. Other initiatives to foster world class education in Singapore include the “global schoolhouse,” with a cluster of the world’s best educational institutions including MIT, Duke, NYU, and the University of Chicago’s Graduate School of Business.

John also writes about other nations which have plans formulated through productive collaboration at the most senior levels of government. Ireland used to be one of the poorest nations in Western Europe. Since 1985, its GDP has tripled and it is now among the wealthiest. Finland has the same population as metropolitan Atlanta. But today, it is a world leader in technology, symbolized by Nokia, maker of the planet’s most ubiquitous cell phones, with 35% of the global market share. And why is Finland so accomplished you ask? Because they invest in human capital. Finland has an exemplary education system. They spend 6.4% of their GDP on education, compared to 5.7% for the USA. University students receive financial grants, housing allowances, and government-guaranteed loans which would make the paltry Canadian government loans look like petty cash. As a result, Finland is now widely credited with producing the world’s best students in the world’s best schools….wow!!!!

But what is the lesson to be learned from all of this? Well, for one, size does not matter in the global competitive landscape. Competition for qualified competent human capital is fierce. How does a nation compete? It requires a two pronged attack. Invest in education; and make its pastures attractive to the best and brightest people of the world.

Mozambique unfortunately is falling behind on both fronts. The number of street youth I see on a daily basis is troubling. One idea I have been bouncing around is getting a youth drop in shelter setup. These are pretty common in Toronto. They offer a place to wash up, eat a decent meal, talk to councilors and get a good night’s rest in a safe environment. Well, at least safer then on the streets.