ICC publishes latest edition of Innovation Principles
ICC has published the latest edition of the ICC Innovation Principles, a guide to the policy frameworks that create and nurture robust innovation ecosystems.
The ICC Innovation Principles provide an overview of the policy framework that businesses of all sizes need to innovate. The principles focus on Innovation Ecosystems, in recognition of the complex and interconnected nature of innovative activity. A call is made for multistakeholder conversations in all policy forums that affect these ecosystems, allowing businesses to show the inner workings of innovation.
Those innovation ecosystems have been transformed in recent years. From an increased focus on data, to the Covid-19 crisis and recovery, innovation has become a recurrent topic for policymakers. The ICC Innovation Principles are launched at a time when innovation is vital for revitalising the global economy, and building back investor confidence.
The principles are separated in four sections:
|Build investor confidence in a trustworthy business environment.||Promote education and training for a robust innovation ecosystems.||Encourage open trade and investment.||Ensure intellectual property systems incentivise both innovation and dissemination.|
Each of these sections responds to a different priority for innovation ecosystems, and they are connected by common themes:
- Resilience. – The Covid-19 pandemic has put all economic actors to the test, it has revealed both the fragility and the value of innovation ecosystems during times of crisis and of economic recovery. Better, more robust ecosystems must be created.
- Stability, predictability, and trust. – Innovation is a risky business, and companies of all sizes need stable and predictable policy frameworks to make the investments that produce innovation.
- Intellectual property protection. – IP is recognized as a cornerstone of innovation ecosystems, both allowing for the creation of innovative ideas and creating the trustworthy business environments that allow that innovation to disseminate.
- SMEs. – Creating an estimated 80% of employment in many countries, SMEs are also a crucial driver of innovation. The Innovation Principles make a call for greater efforts in capacity-building for SMEs and further recognition of their value by policymakers.
ICC Secretary General John W.H. Denton AO said:
“Innovation ecosystems will be a key element in the Covid-19 recovery. Companies and governments must look towards the future as they build back smarter. With the help of our Innovation Principles, ICC will support more resilient business growth, including for SMEs, and ensure the private sector is a partner in forging policy plans for reviving the global economy.”
Ingrid Baele, Chair of the ICC Commission on Intellectual Property and Extended Enterprise Risk Management at Deloitte Consulting & Advisory – Belgium said:
“The 2021 ICC Innovation Principles are a welcome contribution during a challenging time for global innovation. Significant efforts must be made to nurture robust innovation ecosystems, to scale-up the efforts in capacity-building for SMEs, and to create stable, predictable, and trustworthy business environments.
“The ICC IP Commission’s work is closely intertwined with innovation policy. The new edition of the Innovation Principles reflects the importance of IP for innovative activity, as well as the particular value of innovation during a period of global economy recovery. The commission will continue to work in bringing the voice of business to policy discussions.”
Marco Aleman, Assistant Director General, IP and Innovation Ecosystems Sector, World Intellectual Property Organization (WIPO) said:
“The principles identify the importance of public research, corporate innovation investments, the linkages between innovation actors, and intellectual property (IP), as central pillars of healthy and resilient innovation ecosystems. This approach is very much in line with vision, mission, and strategic focus of WIPO DG’s Daren Tang, and in particular, the motivation behind the recent decision to establish the IP and Innovation Ecosystems Sector, which I have the privilege to lead”.