Innovation and disruption: we need more
Updated: Dec 3, 2019
“The businesses that will succeed are the ones that are prepared to disrupt themselves.” A clear message from Callaghan innovation in their useful report, Callaghan inCite, 2017.
New Zealand needs to harness the power of innovation to make sure we’re not sitting on the sidelines. And our efforts should go into niches – what Shaun Hendy calls the weird stuff. How? Spend more – far more – on R and D. NZ only spends 1.3% of GDP on R and D, compared with an OECD average of 2.4%.
The report again: “Doubling or tripling the contribution of dairy or tourism is not the answer, given their respective demands on land, water and infrastructure, and their poor productivity returns.” Valuable and sobering insights.