Global Innovation and Entrepreneurship: Building Key Capabilities for Emerging Economies

PRASETIYA MULYA’S GLOBAL SCHOLAR NETWORK Proudly presents Global Innovation and Entrepreneurship: BUILDING KEY CAPABILITIES FOR EMERGING ECONOMIES August 21, 2014 Grand Hyatt Hotel Jakarta In recent years the world economy continues to be overshadowed by several challenges such as declining levels of economic growth and high unemployment. The global economy requires a strategy for the creation of sustainable economic growth. But the challenges for sustainable economic growth are not something that is easy to deal with. The fact of stagnating or declining populations faced by many countries in the world has been reducing the power of labor force in sustaining economic growth in the long-term economic policy. It is widely believed that innovation is a strategy for a new value creation that is needed in leveraging economic growth, reducing unemployment and increasing the quality of life. Unlike those in developed countries, for most business players in emerging economies, innovation is still a long shot to pursue. The sufficient R&D to Sales ratio as a requirement for becoming innovative is still too expensive for them. Nevertheless, innovation is undeniably an important factor in the development of many emerging economies. For any big players in the emerging economies, investing as much in tangible assets is more preferred in order to build a production system which is more competitive and efficient for sustainable economic growth. But the challenge to create a strong economy today is also being hampered by the emergence of social conflict, the problem on food and energy security, and climate change in many countries. On the other hand, the entrepreneurs are particularly important actors in the process of innovation and economic growth in emerging economies, as they put efforts to turn ideas into commercial applications. The entrepreneurs through their innovative ideas have been creating new jobs and therefore helping the economy to survive and grow. In the context of innovation and global economy, how will the role of entrepreneurship and innovation reshape the global economy? In the globalized world with its technological advancement, how could the link between technology and entrepreneurship make a major contribution in innovation and economic growth in emerging economies? What is the role of government, corporations and academics in fostering entrepreneurship and innovation? To find the answers to all those questions, Prasetiya Mulya Business School with its global scholar network initiates an event presenting prominent speakers to deliver their valuable thoughts. This annual event is a part of Prasetiya Mulya’s tradition and high commitment to always advancing business knowledge & practice. Business leaders from various industry sectors, academics, and policymakers are expected to come and get involved in a meaningful dialog of the event.