Archive for the ‘knowledge-based economy’ Tag

T&T’s knowledge-based economy: Institutional Regime and Innovation System

In the words of Judy Lake, vice president of Information Technology Services at the University of Trinidad and Tobago:

“As a nation, Trinidad now has greater expectations. We don’t want to go back; we don’t know how to go back. The only way is the way forward, the way onwards towards the vast opportunities for creative minds to welcome the era of the knowledge-based economy.”

Indeed.

With Tamana InTech Park, the country is going forward and onwards to a knowledge-based economy.

A knowledge-based economy (KBE) is one in which the production, distribution and use of knowledge are the main drivers of growth, wealth-creation and employment across all industries.

Last week’s blog article examined Trinidad and Tobago’s readiness for ushering in a new era of a knowledge-based economy by looking at two of the four World Bank pillars:
(1) ICT Infrastructure
(2) Education and Skills

Now we’ll look at the final two pillars:
(3) Economical and Institutional Regime
(4) Innovation System

How does Trinidad and Tobago measure up to other countries in these World Bank pillars?

How will Tamana InTech Park bolster the nation’s economy?

How does the Trinidad & Tobago Innovation Centre (TTIC) at Tamana InTech Park fit into the national innovation system?

Click here to read the article published today in the Trinidad Express, part 2 of the articles series, discussing the final two of the four World Bank Pillars: (3) Economical and Institutional Regime and (4) Innovation System.

T&T’s knowledge-based economy: ICT and upskilling

Tamana InTech Park is the single most important initiative to date by the Government of Trinidad & Tobago in the quest to transform the economy from its historical dependence on oil and gas.

Tamana InTech Park is helping the country to move away from its reliance on a commodity-based economy and invest in developing a knowledge-based economy (KBE).

A knowledge-based economy (KBE) is one in which the production, distribution and use of knowledge are the main drivers of growth, wealth-creation and employment across all industries.

The World Bank has identified the four pillars of a KBE as :
(1) Information and Communication Technology Infrastructure (ICT)
(2) Education and Skills
(3) Economical and Institutional Regime
(4) Innovation System

The countries recognised as the best examples of KBEs are Sweden, the United States, Korea and Finland.

It is no coincidence that these are also the most innovative countries in the world.

So how does Trinidad and Tobago measure up to the World Bank pillars?

Click here to read the article published today in the Trinidad Express, discussing the first two of the four World Bank Pillars: (1) Information and Communication Infrastructure and (2) Education and Skills.