Even as constituent-led innovations drive corporate and government priorities, investment in education and knowledge is paramount and will play pivotal role in outlining the impact of collaborative innovation across various spheres, especially in the Arab world, a discussion at the conclusion of the 2008 World Summit of Innovation and Entrepreneurship (WSIE) held in Dubai, emphasized. Organized under the patronage of Sheikh Hamdan Bin Mohammed Bin Rashid Al-Maktoum, crown prince of Dubai, the 2008 WSIE held at Jumeirah Beach Hotel has brought together over 800 delegates from all walks of life. Starting the debate on the “Customer Innovation Joy: In Human-Centered Design We Trust', Roland Berger, co-founder and director, Digital World Foundation and CEO of NEMATRIX Research, said: “We are part of a revolutionary phase in mankind and innovation is going ahead at an incredible pace. The need of the hour is efficiency as the human race tries to tackle the impending challenges ahead.” David Rolston, CEO of Forterra, shed light on the virtual communities and how they are gaining importance worldwide in redefining the teams, tasks and organizations. He said: “It is incredible how the virtual communities can help get people together using virtual capabilities. Here, we are talking about realistic avatars - which help in developing a sense of personal presence, a step ahead of video conferencing that we experience today.” Padmasree Warrior, chief technology officer at Cisco Systems, said innovation in a smart way is the buzzword. “Urbanization is not going to slow down - with nearly three billion people, i.e., 50 percent of global population living in cities today. This figure is expected to go up to 60 percent by 2030. It is also true that urban areas consume 75 percent of the global energy resources and emit 80 percent of greenhouse gas. Hence, it is paramount to develop smart IT-enabled cities to work around this global challenge.” She added that “Cisco has initiated the connected-urban development, which focuses on supporting telecommunications across geographies, optimizing private transportation, promoting public transportation and reducing the municipal CO2 emissions. To bring about this change, innovative partnership is the key.” Talking about collaborative investment and how knowledge can shape innovation, Hisham El-Sharif, chairman of RITSEC, said: “We all believe in a better world and we have something to offer. Investing in knowledge is the only way ahead for us to achieve innovation. It is vital that we all put our hands together to collectively build the first investment bank in knowledge. And when we are talking of nearly 325 million people across the Arab world - two-thirds of whom are under 30 years of age, investment in knowledge assumes added significance.” Abdul Rahman Tarbzouni, representing the Saudi Entrepreneurs and Technology leaders' Association, said it is necessary for the Arab youth to change the mindset. “We may have access to the best of knowledge, but we need to look for a shift in mindset to become entrepreneurial. If there is any kind of investment that we are talking about, it has to be an investment in the change of attitude. We need to step back to our fundamentals.” Mishal Kanoo, chairman of Kanoo Group, shed light on the critical elements to innovating family businesses. “Tradition is important but it should not hamper innovation. Self censorship stops innovation in family businesses, the biggest economic powerhouse in the region,” he said. Sam Hamdan - chairman and chief strategist of Global Leadership Team and architect of WSIE, added: “The Summit provided an unparalleled experience to facilitate a change of perspective that has forever changed the way everyone looks at their businesses, partnerships and for that matter, the society at large. The charter of Innovation for Peace, designed in a city distinguished for innovation and entrepreneurship, is the perfect roadmap to achieve lasting peace across the world.” Kari Stefansson, President and CEO of decode Genetics, talked about how personal genetic profiles can revolutionize healthcare and Lizbeth Goodman, director of Smartlab, spoke on how new technology tools can have social impacts. __
