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STPI Team Heads to the UK for Exchange Exploring Technology Innovation Index Applications

2020/02/20

UNESCO research points to the fact that technology policies establish, institute, and implement plans to empower countries to fulfill their technological potential, meet comprehensive development goals, and attain greater prestige. The primary function of these policies is to promote national technological advancement by using a variety of institutions and governmental guidelines, improving overall competitiveness, and boosting economic growth. The processes that shape these policies include defining policy issues, planning, implementation and supervision, and follow-up evaluations among others. These are all aimed at ensuring the effective achievement of technology policy goals.

 

In an ever more digital and globalized world with new technology constantly emerging, innovative technology policy planners need to consider the impact of foresight technology and assess the current application and development of innovative technology in policy assessment frameworks. Apart from using previously acquired quantitative statistics and qualitative indices, turning data from the digitization process into measurable indicators is yet another tool that can be put to use when determining future technological policy goals.

 

With this in mind, the STPI team headed to the UK for research exchange and to explore the applications and limitations of technology innovation indices in policy goal formulation, and the international evaluation frameworks put forward by major global think tanks. The team also looked into how best to apply economic models to the planning and evaluation of technology policy goals.

 

When applying technology indices to policy goal assessment, the levels of suitability and consistencies between the indices and policy goals need to be considered. A diverse approach also needs to be taken in order to observe the various features of each policy goal further. When applying technological indices or economic models to the planning, monitoring, and assessment of technology policy goals, the levels of suitability and consistencies between the goals, models, and indices need to be taken into account. Aside from this, a diverse approach must once again be taken to monitor the variables these goals entail.

 

While engaged in discussion at King’s College, the STPI team and their UK counterparts used innovation as a case in point when delineating the fields and scope required for the early stages of policy planning. Their discussions touched on factors such as future potential, current market conditions, and innovative ability. They looked at innovation indices like those of the WEF or IMD which evaluate countries’ innovative strength as a whole. These are often incapable of giving specifics about different fields of innovation or the driving forces behind them, such as personnel and finances. On the other hand, market share can be used as a variable when assessing the current state of innovation, but collecting information about different fields incurs considerable difficulties. Thus, if the goal is to pursue technological innovation, the evaluation index should be further defined during the strategic planning phase.

King’s College nestled within the streets of central London

 

While engaged in dialogue at Loughborough University, the two teams separated the methods used to measure the economic benefits of technological research and development into the CGE model and individual analyses of specific fields. The former can be used to evaluate current situations in their entirety and model future prospects, as well as provide accurate quantitative forecasts of economic benefits (the GDP growth rate). Individual analyses, on the other hand, must define the scope of the economic impact in the initial planning process. Significant factors associated with this impact must also be detailed, while all information collected must be based on a defined domain, in order to prevent insufficient information for assessment or a break in the chain of information when conducting the retrospective analysis.

Loughborough University blessed with classical beauty