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Sangha “Estidama Hub” Joins NEOM in Celebration of Innovation Day

On 19th April 2021, in celebration of innovation day, Sangha “Estidama Hub” along

passionate entrepreneurs joined a panel of experts to discuss the role of innovation and development as a mean to support the achievement of the SDGs.

According to the United Nations conference report, The role of innovation and technology for sustainable development, innovation and diffusion of new technologies are crucial for economic growth. They lead to increased productivity and to the creation of wealth and economic well-being, including decent and green jobs. Innovation and technology are also instrumental to promoting the structural transformation of economies, at different stages of development. By implication, they are also key to enhanced competitiveness.

Countries can improve their innovative capacity by benchmarking their performance and leveraging their strengths and addressing weaknesses in innovation, and by learning from best practices in countries who are emerging as innovation leaders at all income levels. This is essential for creating an enabling environment for inclusive and sustainable economic growth. Tools exist for policymakers to use to inform the development of their national innovation policies. For example, the Global Innovation Index (GII) published annually by WIPO, Cornell University, INSEAD provides an annual benchmarking of national innovation performance of 141 economies around the world, and helps to identify and analyse global innovation trends and best practices. The key strategic recommendations drawn from UNIDO’s Industrial Development Report 2016 on “The Role of Technology and Innovation in Inclusive and Sustainable Industrial Development” also provide key tools for policy-makers.

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