Business Schools need to make innovation management core elements of MBAs. Students need to be made aware of the social and economic importance of innovation and entrepreneurship. Fourth, the government has itself to be innovative. Its policies, regulations and laws need continually to be examined from the perspective of whether they support or constrain innovation. This can sometimes lead to some difficult decisions.
Innovations are more attractive to firms if they have a monopoly, which is conferred by a patent.
Areas like competition law need to recognise sometimes that monopoly can be valuable. And sometimes the best contract for the country is not necessarily the cheapest, it is the most innovative. The quality of the partnerships between government and business is one of the most important aspects of the national innovation system. Both need to work together more effectively. We have to accept that we exist in a world of uncertainty.