For a country to be innovative, investment and the development of ideas are not enough, the process begins at school and with the creation of public policies to develop skills and guarantee a good quality of learning.
Education and innovation have a very strong link that, although it is not 100% linear, an adequate educational level has a positive impact, specifically on the number of annual patents in each country and the reduction of inequality levels, said Raúl Martínez Solares , CEO of Fibra Educa.
Innovation, he explained during his participation in the “Global Forum on Innovation, Creativity and Development” -held on the occasion of the International Day of Creativity and Innovation 2022, which was held yesterday-, creates a virtuous circle by reducing costs and improving the quality of education, as well as accessibility and speeding up accelerated change processes such as the ones we are now experiencing.
“In Mexico, we have an educational regulation that makes it very difficult to adapt study plans and this prevents universities from modifying study plans in accordance with a changing environment that requires young people to have better tools to face the challenges of their professional life” , he stated.
He explained that in countries like Mexico, innovation in education faces an obstacle derived from unequal access to technology. Unlike other emerging economies, where innovation is used, even by people from low income sectors, this is not the case in Mexico, since access is very limited.
If innovation is promoted and work is done from early stages of education, the economy improves because the birth of entrepreneurs who seek innovative solutions to society’s problems is encouraged. There is the opportunity for economic growth and the birth of companies and jobs, especially in the health and education sectors, fundamental pillars to combat extreme poverty.
entrepreneurial potential
Francisco Casanueva, CEO and Chairman of the Board of Directors of Endeavor Mexico, agreed that when there is a culture of innovation in the country, entrepreneurial potential soars, generating business models that impact the lives of citizens.
Proof of this is the fintech sector, where entrepreneurs have created innovative models in different sectors, positioning Mexico as one of the leading countries on the subject.
He indicated that this type of entrepreneurs have the mission of promoting financial inclusion, digitalization of financial services and democratization of access to savings and investment tools. This has allowed the fintech community to generate an operating volume of more than 6.5 million dollars, according to the Fintech Thermometer, prepared by Endeavor.
He highlighted that, thanks to this innovation, in Mexico there are already several “unicorns” that were born during the pandemic, as well as 441 entrepreneurial firms. Mexico and Brazil aim to be the most mature ecosystems in Latin America due to the number of firms, investment size, number of “unicorns” and potential companies.
“We were behind Brazil, but Mexico has made a huge advance quickly and recently,” he said.
To continue growing, he stressed, the opportunity sectors are payments and consumer loans. Only 23% focus on unbanked individuals and SMEs.
Innovation policies
Martínez Solares mentioned that in order to promote an innovative environment, three aspects of public policy are required. The first is the creation of programs that allow the expansion of basic skills among the student population, for example, basic knowledge that not only improves the skills of the field, but also contributes to the development of human knowledge.
The second is to establish public policies that rapidly promote the comprehensive improvement of quality in education, always focusing on students and creating conditions that empower teachers with better tools and teaching skills.
Finally, there is the promotion of public policies aimed at investment in secondary and higher education, both public and private, and in services such as infrastructure.
“The evidence shows that innovation linked to the promotion of entrepreneurship favors growth,” he concluded.