Nur­tur­ing In­no­va­tion

Arabnet - The Quarterly - - Business -

‘I think that tal­ent here [in the MENA] is won­der­ful, but prob­a­bly needs a lit­tle bit of help, in terms of giv­ing en­trepreneurs the right plat­form so that they can re­ally cre­ate glob­ally scal­able busi­nesses,’ said Ste­wart. Through the cre­ation of ac­cel­er­a­tors, VC arms and in­cu­ba­tors; cor­po­rate in­vest­ment pro­grams in the MENA to­day, while still in their in­fancy, are grow­ing steadily, cre­at­ing an ecosys­tem that is en­abling in­no­va­tion, nur­tur­ing prof­itable new en­ti­ties, and in­fus­ing en­trepreneurism into the cor­po­rates’ op­er­a­tions. The fol­low­ing state­ment made by Pro­fes­sor Bruno Lan­vin, co-au­thor of The Global In­no­va­tion In­dex is an apt de­scrip­tion of in­no­va­tion in the re­gion: ‘In­no­va­tion is about in­fra­struc­ture that en­ables in­no­va­tion to hap­pen. The West of­ten says that the mar­ket should de­ter­mine what should be built, that is not so, cre­ativ­ity and in­no­va­tion need help.’

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