National innovation strategy launched

President Arroyo has launched a national innovation strategy in a bid to further boost the economy through technology development.

Science and Technology Secretary Estrella Alabastro said the National Innovation Strategy, dubbed “Filipinnovation,” is a product of public-private partnership that aims to harness the creativity of Filipinos for national competitiveness.

The National Innovation Strategy is being spearheaded by the Department of Science and Technology, in partnership with IBM, Asian Institute of Management Policy Center and the Intellectual Property Office.

Alabastro said the National Innovation Strategy calls for actions in four strategic areas: strengthening Filipino human capital, supporting business incubation and efforts, creating a policy environment among Filipinos, and upgrading the Filipino mindset toward a culture of innovation.

“The vision for Filipinnovation is a Filipino nation having a competitive and multidisciplinary workforce competent in producing value-added, knowledge-based products and services of global standards,” Alabastro said during the launch at the Makati Shangri-La Hotel in Makati City last Monday.

She said the national strategy also aims to create competitive local firms driven by constant innovations brought about by increased research and development, and a public policy environment that ensures continuous innovation not only through executive, legislative and judiciary initiatives but also through local government programs.

Alabastro said the strategy aims to create the Philippines as the “Asian innovation hub.”

Nick Donofrio, vice chairman of the IBM International Foundation, said the country needs more people who are able to understand changes and prepared to deal with opportunities.

He said exposure to innovation should be at a young age when children are intrinsically inquisitive.

The Philippines ranked 49th out of 61 economies in the recent World Competitiveness Yearbook of the Switzerland-based IMD business school.

It also ranked 126th out of 175 countries in the International Finance Corp.’s “Doing Business” survey, and 71th out of 131 economies in the Global Competitiveness Report of the World Economic Forum.

Last year, Mrs. Arroyo created the National Competitiveness Council, which brought together representatives of the private and public sectors in an effort to arrest the country’s slide in world competitiveness rankings.