Innovation Growth Lab 2017 Annual Conference | By Teri Richter

Pictures from: link https://storify.com/nesta_uk/igl2017

Photo Credit: https://storify.com/nesta_uk/igl2017

Working in a robot economy, evidence based innovation and overcoming policy barrier in entrepreneurship

On the 13th and 14th June 2017, the Annual Innovation Growth Lab conference was held in Barcelona Spain hosted by Nesta in partnership with the Ewing Marion Kauffman Foundation, the World Bank Group, COTEC Fundación para la Innovación, La Caixa Foundation and the Inter-American Development Bank. The Allan Gray Orbis Foundation was represented at the event which brought together around 250 individuals from policy makers, to practitioners and researchers from over 30 countries all passionate about working towards increasing innovation, supporting high growth entrepreneurship and accelerating business growth.

The key aim of the IGL2017 conference included:[1]

  • Learning about the next generation of innovation and entrepreneurship policies.
  • Engaging in wide-ranging discussions on crucial policy challenges including automation, inclusive economic growth, directing public innovation funding, and smart regulation to support innovation.
  • Improving organisation’s capability to design policies that deliver measurable impact, using different tools such as randomised controlled trials and big data.
  • Meeting a global community of peers to learn from and share experiences with.

The IGL conference created a platform for engaging discussions and creative ideas on how to encourage and develop innovation and entrepreneurial opportunities and growth, practical engagement between policy makers and practitioners and academics sharing their experiences and learnings of completed, as well as ongoing randomised controlled trials in the entrepreneurial development space. Each session provided useful take-aways:

Key take-aways from the IGL Main conference

The conference investigated the future of work in a robot economy, specifically suggesting ways in which policy experiments can aid in better understanding the potential impact of job loss compared to the value creation of these entrepreneurial innovations. A central theme to the future of work discussions centred around the need for a creative and growth orientated mindset, which will influence the skills and experience in the future economy. The most important mindset was proposed to be the mindset to learn. This notion links strongly to research being conducted at the Foundation around entrepreneurial mindset and the need to identify opportunities and act on these in a rapidly changing environment.

Key take-aways from the IGL Policy and Practice Learning Lab

The working sessions allowed for engagement between policy makers and programme implementers to share their experiences of challenges in innovation and growth and propose solutions to address barriers facing entrepreneurs. The emphasis on the need for implementing organisations to represent and become more heavily involved in advocacy and policy discussions was of key importance.

Key take-aways from the IGL Research Meeting

The research meeting emphasised not only the importance of experimentation and using experimental research designs such as randomised control trails, however also gave an opportunity to engage directly with researchers currently implementing these trials on entrepreneurial design interventions. These engagements allowed the opportunity to share research ideas as well as future collaborations and best practices.

Overall, the conference allowed for great discussions and sharing of ideas and learning, which emphasised that research is at the heart of entrepreneurial and policy development. Reporting solely on the amount of funding allocated and spent fails to understand the impact of interventions, delivery of results and generation of economic growth. Talking specifically about failure is useful to building the entrepreneurial development sector and can be more valuable than surface level successes. Innovation requires evidence.

To best assist entrepreneurs in their start up and growth, the sector needs to identify key policies that are barriers to entrepreneurs and advocate to remove these. It is important to note that simply developing and upskilling entrepreneurs is not sufficient to aid their growth and development.

Learnings for the Foundation

The strongest messages from the IGL conference that directly relate to entrepreneurial development organisations and apply to the Foundation centred around the need to strengthen empirical research and evaluation practices and sharing organisational and sector-wide learnings, as well as contributing to identifying and addressing policy barriers and gaps that impede entrepreneurial growth.

[1] http://www.nesta.org.uk/event/innovation-growth-lab-global-conference-2017