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Meeting the Needs of Research and Innovation of the Private Sector: The Malta Chamber’s Perspective by Malta Chamber President David G. Curmi Friday, 7.

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Presentation on theme: "Meeting the Needs of Research and Innovation of the Private Sector: The Malta Chamber’s Perspective by Malta Chamber President David G. Curmi Friday, 7."— Presentation transcript:

1 Meeting the Needs of Research and Innovation of the Private Sector: The Malta Chamber’s Perspective by Malta Chamber President David G. Curmi Friday, 7 th February 2014

2 Agenda 1. Global Innovation 2. Where does Malta stand? 3. What are the needs of the Private Sector?

3 1. Global Innovation

4 Innovation in Textbooks  Innovation: Government’s many roles in fostering innovation. 1. Tax Policies 2. Legal Policies 3. Fiscal Policies  Country Analysis: Comparative analysis of polices in 15 different countries.

5 Innovation in Entrepreneurship

6 What do we do next ? To paraphrase Oscar Wilde, we need to believe in the impossible. (Satya Nadella, newly appointed CEO at Microsoft. FT 5 February 2014)  46 years old.  3 rd CEO at Microsoft in its 39 year history.  Selected from over 100 potential candidates including Ford’s CEO and Oracle’s President.  Base Salary $1.2m total package $18m.

7 Innovation is a mindset

8 8 Innovation is a Mindset Case Study 1- Hyundai 1975: Pony Source: Financial Times, January 2014 “…like a Honda Civic built in a back alley by an inebriated blacksmith” Canada’s Globe and Mail

9 9 Innovation is a Mindset Case Study1 - Hyundai Source: Financial Times, January 2014 “It doesn’t rattle. BMW can’t do this. We can’t do this.” CEO VolksWagen 5th largest global car manufacturer Switch from growth to profitability Focus on R&D Focus on brand development

10 10 Innovation is a Mindset Case study 2 – HollySys Control and safety systems Culture driven by R&D Profits over growth Winning contracts outside of China Chosen as sole supplier of control systems to Hong Kong and Singapore underground and rail systems. Mechanical & electrical solutions Industrialautomation Rail transportation Source: HollySys website, September 2013

11 11 Total domestic R&D expenditure Emerging markets have yet to embrace R&D… Source: Goldman Sachs International, November 2013. Data as at 2010 or latest available The importance of Innovation € per capita

12 12...however, China is playing catch up Source: World Bank, November 2013 The importance of Innovation In ‘000s Number of patents by area of residence

13 Some Global Stories  The number of Chinese students currently enrolled in U.S. colleges and universities = Population of the Maltese Islands.  ASEAN – (association of 10 Southeast Asian Nations) 620 million people, $2.2 trillion GDP, the most important 21 Century global growth engine.  57.4% of patents registered by Microsoft named immigrants as inventors of the patent.  China has recognized the importance of patents and is now registering more patents then the U.S.  4% of the world’s entrepreneurs create 40% of its wealth.  The playing field in terms of cost is levelling out fast – investment will ultimately go to countries that innovate.

14 2. Where does Malta stand?

15 Where does Malta stand? (1)  According to the latest Innovation Union Scoreboard 2013, Malta remains a moderate innovator with a below-average performance.  Malta holds one of the lowest number of tertiary science and technology (STEM) graduates in Europe, with an average of 3.1%.  Growth rates were seen in relation to:  new doctorate graduates (+16.9%);  community trademarks (+16.6%);  SME’s introduction of innovative products and processes (+19%).

16 Where does Malta stand? (2)  In relation to financing and support, we are still lagging behind other member states due to the non-existence of equity finance.  In 2012 Malta’s expenditure on R&D is 0.84% of GDP (EU 2020 target 0.67% but this will be increased to 2%).  Very little progress is seen with regard to the entrepreneurship and intellectual assets indicators, such as:  In-house innovation;  Collaborative projects between innovative SMEs;  Registration of community designs;  Patent Cooperation Treaty (PCT) patent applications.

17 Where does Malta stand? (3)  The Malta Chamber RTDI Committee has:  successfully evaluated the local situation;  formulated a strategic document which points out what urgently needs to be done.  The Committee is composed of representatives of the sectors of: manufacturing; ICT; legal consultancy.

18 Where does Malta stand? (4)  An extensive document entitled ‘Meeting the RTDI Needs of Industry’ was drafted by the Chamber’s RTDI Committee.  This is segmented into the following eight sections:  Innovation Management Techniques;  Research and Development Processes;  Education Preparedness;  Links between Academia and Business;  Innovation Value Chain and Infrastructure;  Access to Finance;  Technology Transfer and Licensing;  Intellectual Property Rights.

19 3. What are the private Sector’s needs?

20 What are the needs of the private sector? (1)  A country and politicians that think Global.  A renewed focus on research and innovation.  Restore trust and confidence in business – restoring trust is critical to growing economies.  More support for start-ups.  Accelerate the development of high impact entrepreneurs and visionaries.  Source global talent.  Encourage talent mobility.

21 What are the needs of the private sector? (2)  The Malta Chamber calls for the importance that in the new programming period all EU member states allocate a higher share of their structural funds to:  R&D;  innovation;  education;  infrastructure.  The issue of industry-academia linkage has been debated for a long time.  The Malta Chamber suggests University researchers are given the required flexibility for direct postings in local enterprises.  The Malta Chamber believes in promoting partnerships between industry, academia and foreign institutions.

22 What are the needs of the private sector? (3)  Education and skills are key enablers for innovation to flourish in enterprises.  Investment in R&D is to be coupled with a long-term strategy preparing our future generations with the required skills.  The Malta Chamber believes that there needs to be an integrated approach and converging instruments to transform innovative ideas into marketable solutions: - Introduce programmes that promote seed funding for research-based projects. - Focus on the need for funding programmes to sustain R&D under the new EU programming period 2014-2020. - Highlight the need for appropriate funding programmes under the MCST National R&I Programme.

23 What are the needs of the private sector? (4)  The Malta Chamber looks forward to the introduction of the Horizon 2020 package in Malta.  This is the EU’s biggest ever research and innovation programme.  We are satisfied that the Commission has taken a new approach and has introduced the brand-new SME funding instrument.  Intellectual Property Rights are what gives investors and creators not only the protection they deserve, but also the main tool with which to capitalise on their creations.  We propose to join the existing efforts by the Industrial Property Directorate to raise awareness of intellectual property rights at a local level.

24 “The people who are crazy enough to think they can change the world are the ones who do.” Apple “Think Different” Commercial 1997

25 Thank you

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