Government Summit to present dynamic role of public sector as driver of innovation

Dubai, February 7, 2015: The third Government Summit, which begins on February 9 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, will offer a new perspective to the government sector, presenting it as more dynamic than the private sector in terms of innovation.

In a workshop on ‘The Entrepreneurial Government’ on the first day of the Summit, Professor Mariana Mazzucato, a leading innovation economist, will explain how the government sector acts as the source of innovation. In her recent book, ‘The Entrepreneurial State: Debunking Private vs. Public Sector Myths’, Mazzucato challenges the image of the public sector as lethargic compared to the dynamic image of the private sector. She cites historical examples in her book to show how some of the most high risk and courageous investments that led to revolutions in information technology, biotechnology and nanotechnology, were sparked by public sector institutions.

The third Government Summit, organized under the theme ‘Shaping Future Governments’, offers a global platform that brings together prominent experts and specialists to discuss the most relevant issues related to the lives of people such as health, education and future governments in an effort to create citizen happiness and well-being of the community at all levels.

Mazzucato, who is Professor in the Economics of Innovation in the Science Policy Research Unit (SPRU) of the University of Sussex – UK, has substantiated her argument about public sector as the driving force of innovation, citing examples such as the Internet, which was outcome of projects funded by US Department of Defense, and GPS which began as a US military program called Navstar. Even Siri, the iPhone’s voice-recognizing personal assistant, is the result of government research project while the touchscreen, so commonly used today on mobile devices, is the product of research at the University of Delaware funded by the National Science Foundation and the CIA, she states in her book.

During the workshop, Mazzucato will illustrate the practical role that governments can adopt to guide the market rather than getting confined to the funding role. She asserts that there is a lot of emphasis on partnership between the public and private sector but governments have an important role in minimizing the risks in this trend.

Mariana will also talk about the public sector's ability to take risks to convert unfeasible ideas to reality. She would argue for new mechanism that allows the public sector to redeem part of the profit from the projects financed by the government.

The third edition of the Government Summit will be attended by more than 3000 participants. On the occasion, over 100 high-profile speakers, including world leaders, decision-makers, ministers, CEOs, thought leaders in government innovation, government officials and experts, will share ideas and visions on the future of government services, taking part in more than 50 interactive sessions.