The OECD has published a revised version of its Innovation Strategy – The Innovation Imperative: Contributing to Productivity, Growth and Well-Being. The report calls on governments to stop policies that unduly favour incumbents, given that young firms are crucial in driving innovation, job creation and growth. With the digital economy and the sharing economy changing the business landscape by allowing new ideas and business models to emerge, it is more urgent than ever to give young firms the means to experiment with new technologies and organisational models. The report also calls on policy makers to think long-term, to provide more grants and fewer tax incentives, and to learn from experience through greater monitoring and evaluation. Furthermore, the report calls attention to the role of skills, an open and competitive business environment, access and participation in the digital economy, and the need for countries to adapt policies to their specific national and sector challenges.
