The National Innovation Framework is a unique programme of creating innovation ecosystems to transform the landscape of the Mauritian economy. The success of this Framework is contingent on the following features:
- Sustainable Roadmap for Growth: The National Innovation Framework seeks to create a roadmap which spells out the long-term policy for the nation and the State. The very nature of the Framework is to create a sustainable plan for a balanced development. The Framework recognizes the prudence in following such a policy. The Framework seeks to invigorate the economy, by balancing the interests of Mauritius as seen from four perspectives – at the National level, Industry level, Company level and People level.
- Private Funding for Programmes: The Framework moves away from the traditional understanding of progress where the State becomes the chief driver of growth. The downside of a policy which is financially spearheaded by the State usually ends up committing too much of the tax-payers money into risky-laden projects. Such a policy poses a threat to the stability of the economy and can be politically disruptive in case of a bad investment. The Framework instead focuses on creating avenues to nurture the interests of the industry to fill this vacuum of funding innovative businesses. By inviting such investors who have the appetite to invest into innovative businesses and enterprises, the State would free up essential public money and spend it on more urgent socio-economic needs of the people. Such a policy will add to the vitality of the economy which will keep it and the interests of the people insulated from the risk of funding such start-ups. This in turn would contribute to ensuring stability of the economy.
- Integrated and Coordinated Growth: The Framework sets out a plan for Innovation based on integrated growth. The programmes for innovation call for coordinated efforts between the Industry and Academia and between different disciplines. R&D efforts would also be deeply rooted in an alliance between market players and academics. Such a balanced and concerted programme will ensure that Innovation becomes an organic part of the Mauritian economy.
- Accountability of Innovators: The National Innovation Framework does not simply lay down certain programmes and schemes to be follow It creates a web of policies and aims, programmes to implement them, incentives to encourage people to participate and to develop scoreboards to evaluate the programmes after implementation. This entire network of initiatives ensures accountability of the market players and the policy makers.
The NIF is paving the way to the implementation of national measures such as tax and other individual as well as corporative incentives which can enhance the efforts of public as well as private bodies in investing in R&D and other innovation mechanisms.