New services and products are seen as the key to economic development as innovations boost growth and increase a country’s competitiveness. Deutsche Bank Research has published an interesting report that highlights how Portugal, Italy and Greece (PIGs) could grow their way out of depression. The report puts a strong emphasis on innovation but also highlights the importance of universities as an enabler and incubator of change. In order to translate inventions and cutting edge research into marketable solutions, networking between universities and industry is seen as vital. However, such an innovation system is highly dependent on skilled workers. The education sector is critical in raising the qualification level of the workers in these countries since this has proved to be an obstacle for productivity growth. This provides more evidence that universities are the main driver of growth: a) through educating people and b) ensuring that university research ultimately reaches and benefits the public.
UWS Innovation is dedicated to this cause and we encourage UWS innovators and potential collaborators to contact us on 02 9685 9742 or at ip@uws.edu.au
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