From The Wall Street Journal
“Innovation – identified by MIT economist and Nobel laureate Robert Solow as the driver of long-term, sustainable economic growth and prosperity – has been a hallmark of the Massachusetts Institute of Technology since its inception.” Thus starts The MIT Innovation Initiative: Sustaining and Extending a Legacy of Innovation, the preliminary report of a yearlong effort to define the innovation needed to address some of the world’s most challenging problems. Released earlier this month, the report was developed by the MIT Innovation Initiative, launched a year ago by MIT President Rafael Reif.
I found the report quite interesting, both because I’ve been closely involved with innovation activities through a great part of my career, and because since 2005 I’ve been affiliated with MIT. Beyond MIT, the report should be of value to anyone interested in the growing importance of innovation to institutions, economies and societies around the world.
A decade ago I was part of the National Innovation Initiative, a major effort convened by the Council on Competitiveness to develop a U.S. innovation agenda. Its final report Innovate America: Thriving in a World of Challenge and Change, was released in December of 2004. The report did an excellent job in explaining the role innovation plays in U.S. competitiveness. It included more than 60 detailed recommendations in three major areas: talent, investment and infrastructure.