A Knowledge Economy, therefore, cannot only be entrepreneurial-or-innovator-led, because Brazil had plenty of those and it wasn’t working. It must engage the public sector, too.
Political rhetoric is rife globally. The British went to the polls Thursday. In the US, Hillary Clinton is changing her position on gay marriage, free trade and immigration, with sound bites aplenty, as she readies herself to fight to become America’s first female President.
‘Five-Year Plans’ and ‘Big Visions’ are just some of the refrains. One bugbear that really grates, though, is that fuzzy promise of the Knowledge Economy.
But just what is a Knowledge Economy and does Kenya understand everything it takes to get there? Will it be Government-led, entrepreneur-led - or will the innovator lead us there?
We need only to look at international success stories. Look to what I call the IIB examples: India, Israel and Brazil.
Just look at India’s not-for-profit industry association, NASSCOM, and its impact. Started in 1988, it now boasts 1,400 members and represents 95 per cent of the IT-BPO sector’s revenues.
It has driven local and, crucially, global initiatives that have catapulted India to an international colossus in the global IT arena: its IT-BPO sector now equates to $88 billion, 2.7m direct jobs and a 7.5 per cent contribution to GDP.
Technology
Look, too, at Israel’s aggressive technology incubation programme. Started in 1992, its primary aim was to turn innovative technological ideas — too risky and not yet ready for private investment — into viable start-up companies.
Now for the ‘B’ in that triumvirate: Brazil. The South American nation boasted leading Research & Development (R&D), twinned with a vibrant entrepreneurial culture, but few investors to turn start-ups into commercialised successes.
In 2001, public sector company, FINEP, whose role is to foster science, tech and innovation across the ecosystem, established INOVAR — the Brazilian innovation agency. It has played a crucial role in any Knowledge Economy — that of the catalyst.
Not unlike Kenya, with venture capital flows running dry.
A Knowledge Economy, therefore, cannot only be entrepreneurial-or-innovator-led, because Brazil had plenty of those and it wasn’t working. It must engage the public sector, too.
Even some of the most developed nations in the world — America, for example — are investing in cultivating networks that help to create co-innovation, which will fuel knowledge sharing.
For Kenya, Government, entrepreneurs and innovators must come together to turn the invisible — the dream into the visible.
Macharia is founder and CEO, Seven Seas Technologies Group
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