“Science, technology and innovation (STI) are universally recognized as key drivers for economic growth, improving prosperity, and essential components for achieving the Sustainable Development Goals (SDGs)” – UN Conference on Trade and Development (2019)
A few months ago I wrote down some thoughts and questions after being inspired by political events where I live (Guernsey) and internationally (e.g. US). In both jurisdictions, the balance of power has dramatically shifted for different reasons but both against a backdrop of major crises including health (COVID), rising inequality, and skills gaps.
In essence, I was trying to think through answering 2 key questions for the new Government and ecosystem players (e.g.businesses, investors, educators etc): what are some key STI areas of focus, and what questions would I ask?
I have since shared the memo with various stakeholders in the ecosystem, and now I thought it would make sense to post it publicly here. If you have any feedback, be sure to let me know
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Research, analysis and policy development opportunities and questions for the new Government and ecosystem players (e.g. businesses, investors, educators etc)
Business case for an STI economy: the importance of ‘science, technology and innovation’ for Guernsey’s future in driving economic growth and improved prosperity for all citizens
- Key STI trends, opportunities and challenges
- What is STI/digital, why important, global best practices
- Why important for Gsy?
- Defining and measuring Guernsey’s existing STI/digital economy
- Benefits and impacts to economy, society, prosperity and infrastructure
- Jobs, skills, human capital and education
- Role of stakeholders e.g. education, govt, business, people etc
- Building blocks, what is needed? E.g.
- Policy and regulatory frameworks
- Institutional setting and governance
- Entrepreneurial ecosystems and access to finance
- Human capital
- Technical/ICT & R&D infrastructure
- Relevance of Sustainability, Green Finance, Solar/Wind, FinTech, RiskTech, RegTech, GovTech
- Role of tax policy, skills, FDI, govt, business etc
- Strategic options for Guernsey
Resources – A FRAMEWORK for Science, Technology and Innovation Policy Reviews: UN Conference on Trade and Development
http://www.oecd.org/innovation/inno/
OECD (2020) A Common Framework for Measuring The Digital Economy
ICT Infrastructure: Reshaping SURE Telecoms as a strategic asset to benefit the future of Guernsey and investigating the promise of new tech e.g. fibre, 5G etc
- What is SURE’s current investment model, business strategy etc with regard to infrastructure, network performance and speeds, pricing and tariffs etc
- How does it fit with Guernsey’s requirements, strategy and vision for the future?
- To what extent does the existing relationship with Sure/Cicra/others need to be reshaped?
- What is the overall technology vision of Guernsey? E.g. the most digitally-enabled small island economy in the world? KPIs?
- What are the existing telco infrastructure challenges and market opportunities? E.g. connectivity, fibre, 5G etc
- What are the key ICT indicators/KPIs for Guernsey?
- How good or bad is the current network/asset performance? Where is the evidence?
- To what extent does Sure need to be incentivised to improve performance?
- How will that benefit Guernsey? E.g. access, education, WFH, FDI, economic growth etc
- What are the different levers to pull that can assist that?
- What are the roles of the key stakeholders and to what extent does this need reshaping? E.g. Cicra,
- What are some example ownership models from around the world that should be considered?
Resource – 14 Key ICT Indicators
Smarter e-Government: Transforming public sector services to improve efficiency and effectiveness
- Agilisys IT procurement: What was the promise vs reality, where is the accountability and island benefit (e.g. jobs, knowledge etc), what is the road ahead, and what needs to change
- What is the current status of the Agilysys IT procurement, what are the benefits (e.g. local jobs) vs costs, what is the roadmap
- Current status and how successful has it been, why?
- What was the scope of the original deal that was signed? How did that change over time?
- How much has been spent by the SOG?
- What have been the benefits? E.g. local jobs, tax payer savings etc
- How is the vendor managed, programme governed, quality assurance provided, risks/issues etc
- Strategic options and recommendations
- Role of new ways of working and thinking e.g. agile, design, lean
- e-Gov/Future Digital Services
- What is the latest vision and roadmap forward? Is it good enough?
- In 2017 FDS was championed with a delayed and time-consuming procurement process which say Agilysys hired – what is the status?
- What are the roadblocks, challenges vs opportunities
- E.g. SOG IT procurement decision-making and processes
- What can we learn from other e-gov national leaders e.g. Estonia
- What are the big opportunities/challenges?
- What are the areas of focus?
- What is required to move forward?
- What are the costs/benefits?
Digital skills: how to re/upskill the population to be fit for the future
- What digital skills does Guernsey need?
- E.g. Data Analysis, Business Analysis, CS/Software Engineering, Product Development, Agile, PM, UX/UI, Google etc
- What courses should be created?
- For which groups e.g. school-leavers vs mid-level vs later stage
- How to deliver this?
- Best practice models from similar jurisdictions
- Who to deliver this?
- How much to deliver this?
Entrepreneurship and innovation ecosystems: what is the Innovation & Growth vision for Guernsey PLC? How to create a more efficient, attractive and collaborative system:
- What new tax policies, incentives and regulatory changes are needed to drive the captial/FDI and other behaviours? E.g. EIS
- How to encourage businesses to invest in R&D?
- How to encourage angels/HNWI/funds/businesses/VC etc reallocate investments into start-ups?
- Build on my article here – https://andrewessa.com/2020/08/28/digital-ecosystems-tzars-puzzle-pieces-the-halo-effect/
- What is the Innovation vision for Guernsey PLC
- Baselining and measurement
- What is Guernsey’s approach and how effective is it?
- Strengths/weaknesses
- Challenges/opportunities
- Actors in the ecosystem
- What is best practice in small or island communities and competing off-shore jurisdictions?
- What have Jersey done? cost/benefit?
- What can we learn from them and other nations?
- What could we improve?
- What needs to happen?
- Ecosystem pillars: how effective are the current actors and what needs to change
- Tax, finance and incentives
- The role of tax policy, tax credits, R&D, and other incentives
- Access to capital, finance
- Guernsey Innovation Fund
- What has been invested in to date?
- What type of investments and how much?
- What mix of businesses e.g. local vs overseas, maturity etc
- What returns, benefits to date?
- Who is involved in the fund, what governance etc
- What is success?
- How does it compare to other small community or island ‘sovereign’ investment funds?
- What is ‘best practice’ in this space?
- Human capital strategies – from cradle to grave
- Understanding the digital/skills crisis e.g. PwC report
- Practical solutions to solve it
- Alignment with Guernsey PLC strategic vision
- Baselining, what new skills, how to up/reskill, what incentives for businesses and people
- Life-long learning
- More flexible access to skills and talent
- Immigration policies
- Digital Greenhouse
- Current vs future state
- Cost/benefit
- Challenges/opportunities
- Recommendations
- Governance
- Effectiveness of current system
- What changes are needed
- What models, what structure, what responsibilities etc e.g. Guernsey Innovation
- Corporate innovation
- How to incentivise investments in skills and new ventures
- International cooperation
- Role of collaboration including within the Bailiwick
- New business opportunities
- The role of new ‘market creation innovation’ (MCI) policies- see below
- Relevance of Sustainability, Green Finance, Solar/Wind, FinTech, RiskTech, RegTech, GovTech
- Regulatory innovation models e.g. sandboxes
Resource – OECD Review of Innovation Policy – New Zealand (2007)
Other sample areas of ‘innovation policy’ to explore:
- Environment: Sustainability, ESG and climate change
- What is best practice around the world in small island or communities
- What are some potential or viable new business opportunities
- Assess current state of initiatives (e.g. Green Funds)
- Evaluate new initiatives e.g. Wind, solar etc
- International collaboration and trade
- How important is it to be more market-focused and rethink and prioritise international partnerships/affairs? E.g. Jersey
- A colleague and partner Chris Brock covers some of this topic in a recent report here
- Regulatory, governance and risk innovation: to what extent do the various regulatory bodies and related private/public sector organisations (e.g. GFSC, Cicra, TISE, DPO etc) need to adopt a more balanced and innovative approach to regulation and new business? How to accelerate existing initiatives and opportunities? e.g. Green Finance
- What is the nature of the current approach?
- How to balance bureaucracy/risk-adversity in the Guernsey ecosystem but at same time encourage innovation, FDI and new businesses?
- What are best practice examples of innovative regulatory/risk models from competing or similar jurisdictions or around the world?
- To what extent could this be useful in Guernsey?
- How is the wider market evolving and how will this impact Guernsey?
- What are the pros/cons and opportunities/threats?
- What new business opportunities a more innovative approaches enable? E.g. FinTech, RegTec
- What are practical recommendations forward and for which actors
- Role of market-creating innovations to drive prosperity AND economic growth (MCI): What is the opportunity for Guernsey to incubate market-creating innovations for local use and export? And how can Guernsey facilitate the development of MCIs across different sectors – e.g. FS, Infrastructure, Transport, Environment etc – for local use and export to improve income inequality and other social/economic benefits?
Resources:
https://hbr.org/2019/01/cracking-frontier-markets
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