The elements of a smart state
Research and development (R&D)
Research and development can result in the discovery of new processes and products which can deliver important social and economic benefits.
Technology diffusion
The extent to which technical information and knowledge is disseminated, and leads to the adoption of new technologies and techniques by users, determines the extent of productivity gains made across all sectors of the economy.
Commercialisation and entrepreneurship
The way ideas from R&D efforts are applied or commercialised determines whether new products and services are developed for consumers. Any new product or process created through the R&D stages must be effectively marketed and distributed if it is to enjoy success. Entrepreneurship is crucial to this success.
Collaboration
Good ideas emerge from – and are implemented through – teamwork, camaraderie, rapport. Enterprises innovate by working in partnership with universities, technological institutes, consulting companies, suppliers and even competitors.
Connectivity
The growing connectedness of the world is a prevailing feature of our times: witness the rapid take-up of the internet, email, mobile phones, ATMs. Physical systems to transfer information and data are essential to innovation.
Networks and alliances
The web of our professional or social relationships allows new ideas and knowledge to be distributed and expanded. Some of these relationships function as informal, evolving networks and alliances in which we simply share ideas and information; other relationships grow into collaborative partnerships that see an idea to fruition.
Knowledge and skills
Analytical and creative thinking, basic skills such as literacy and numeracy, technical skills, communication skills, entrepreneurship and the capacity for lifelong learning – these skills and attitudes determine the rate at which an economy can create better products, or absorb and improve on technology developed elsewhere.
A diverse, dynamic and creative culture
Places that embrace new ideas and new people will support and encourage creativity and risk-taking in innovation.
Last reviewed 19 January 2006