Kathleen Kingscott is putting innovation at the forefront of both the national and global agenda. As Director for Worldwide Innovation Policy at IBM, she directs IBM’s global public policy team for innovation, science and technology. Kingscott focuses on the issues central to creating market conditions that encourage investment and growth.

“Innovation is more than a matter of creativity or inventiveness,” she says. “It’s the economic engine that experts say has generated the productivity responsible for half of GDP growth over the past half century.”

Kingscott however, is not one to rest on the laurels of success. She points out that innovation has become a common thread as more and more nations are quickly adapting national innovation strategies and replicating the structural advantages that have driven growth in the developed world. “In emerging markets, lower labor or manufacturing costs and aggressive investments in education have effectively changed the rules of the game,” observes Kingscott.

Much like the business entrepreneur, new participants are creating their plans based on the successes and best practices of the developed world. “The globalization of commerce, communication and knowledge has enabled many more countries to develop serious approaches to innovation today,” she explains.

Advancing the New Innovation Imperative Through her initiatives at IBM and the Washington, DC-based National Innovation Initiative, Kingscott works closely with government leaders to help build innovation policy. “Many leaders today want to be real advocates for innovation,” she says. “And they are beginning to develop strategic partnerships across all sectors – industry, academia, labor and government.”

Encouragingly, Kingscott sees many countries investing in the talent and health of their nations through innovation strategies. She believes that much of the investment should target strengthening education, skill development, research and cyberinfrastructure. “The service industry, in particular, represents high economic growth potential and is ripe for innovation,” she suggests.

According to Kingscott, “Accessibility is an important tool to unlock talent around the globe. When governments adopt globally harmonized standards,” she adds, “we naturally expand the talent and innovation pool.”

Kingscott sees amazing opportunity for growth in the 21st century. She points to the perfect storm for innovation being created by our increasingly networked world being married with open standards in information technology and the new business designs they foster. These developments enable global scale collaboration between businesses, industries, economies, governments and universities—a societal revolution, she explains.

The next step will be the strategic choices organizations make in this competitive global environment, Kingscott says. “Will they choose to innovate in high-value products and services, or on standardized, commoditized lines. Either way works, but you have to choose. The biggest danger is to be caught in the middle without a plan. Insightful, committed leadership and strong partnerships are critical.”

Business, Economic forum, Innovation, Economy