Why is it important for policymakers to think about inclusive innovation?
For policymakers, prioritizing inclusive innovation is necessary as it drives economic growth by leveraging the potential and representation of diverse populations promoting equality. They have an ethical responsibility to ensure innovation benefits everyone by creating policies that are focused on inclusivity in innovation. Policies supporting inclusive innovation will be effective in bringing together different groups of people and addressing the need and contributions of all underrepresented members fostering community focused growth. This would ultimately result in developing an inclusive innovation ecosystem that ensures access to different resources and equal support for everyone, creating a collaborative environment.
Existing barriers for inclusive innovation.
- There is a lack of communication between policy makers and businesses.
- There is a lack of participatory structure in terms of decisions related to policies.
- Decisions made at national level are not reflective of regional level decisions/policies due to difference in power dynamics.