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Every once in a while I come across a commentator who really understands the dynamics of economic development. This writer is chief executive at the Economic Development Association of New Zealand:
Economic development is much more than just the various projects and programmes that play out at various levels around the country. Fundamentally, it is about the conversations with businesses about their needs and how that information then filters back up to shape policy.
Take the example of skill shortages. If the tertiary education system (university-level education) is to solve future skill needs, it will require focused talks with businesses about what those skill needs are going to be in, say, five years. If those talks do not happen, education and training become decoupled from business need. No one wins.
More broadly, we need to build connectivity within the innovation system. This involves creating meaningful, continuing links between business, research and educational institutions, which must be based on high trust levels, and all parties need to see the value in the process.
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