The Nova Scotia Inclusive Innovation Monitor
What does Nova Scotia’s economic future look like?
To imagine where we might go, we should look at where we are today and ask some serious questions of ourselves. Questions like, who is participating in, benefitting from, and making decisions about our communities and how we generate wealth? Who has been included in creating the economic and social fabric around us, and who has been marginalized in the process? Where do we need to intentionally engage to do better, and who needs to be included? And what is the role of innovation and entrepreneurship in building a vibrant society and economy?
The volatility of the last year has highlighted many fault lines that we ignored in the past, from unequal access to quality health care to job insecurity, especially for women. In the last decade alone, we have experienced two major recessions, the concentration of wealth in the hands of fewer people, changes in the skills needed to find a job, and the acceleration of populism. Moreover, more recent social movements such as Black Lives Matter, #MeToo, and a global pandemic have highlighted both the fragility and strengths of our society. We have learned that not everyone has benefited from previous innovation and economic agendas.
As an organization dedicated to fostering a prosperous Nova Scotia through inclusive innovation-driven entrepreneurship, we commissioned an examination of Nova Scotia’s innovation economy to shed light on what we are doing well and where we need to do better.
Information is the first step toward a better, more inclusive, future. We invite you to download the Inclusive Innovation Monitor here to learn more.
Join the conversation on Nova Scotia’s inclusive innovation economy by following us on social media, subscribing to The ONSIDE podcast or attending one of our events.
We also invite you to check out the Canadian Inclusive Innovation Monitor, including reviewing all of the statistics and metrics that make up the monitor.
You can also learn more about the Brookfield Institute here.
The Brookfield Institute is now part of The Dias at Toronto Metropolitan University.
Click the image above to download the Inclusive Innovation Monitor.
Nova Scotia is a dynamic place to live and start a business, with more people deciding to make it their home every year. But in order to keep this growth going, Nova Scotia needs a strong economic strategy that focuses on innovation—and on inclusion.
This strategy for the future needs to consider key questions about Nova Scotia today: Who is participating in, contributing to, benefitting from, and making decisions about Nova Scotia’s society and how wealth is generated? Where has meaningful inclusion happened, and where have efforts fallen short?
The Nova Scotia Inclusive Innovation Monitor draws on data from Brookfield Institute for Innovation + Entrepreneurship national project to paint a picture of inclusive innovation in the province, identifying shortfalls, successes and opportunities. This dashboard aims to inform the work of Nova Scotia’s public, private, and nonprofit sector leaders as they seek to build a bright future for all Nova Scotians.
Inclusive Innovation Indicators
We believe innovation is inclusive when….
Opportunities exist for all people to participate as workers (in good jobs with decent wages and security), entrepreneurs (if they choose), and consumers (with sufficient resources to lead good lives).
Fair distributions of the benefits and harm produced by innovation—including more attention to and management of where and to whom the economic and social gains of innovation and growth flow, and who bears the burden of market failures and negative externalities.
Opportunities for people to participate in decision-making about the priorities, direction, and regulation of innovation.
We look at 3 key pillars when evaluating inclusive innovation:
Opportunities
Which resources or conditions support innovation, and who has access to them? Metrics such as educational attainment, financing, and research provide indications.
Activity
Which pursuits and processes foster innovation? Who is participating? Metrics on innovation development, technology adoption, entrepreneurship, and the labour force.
Outcomes
What are the results of innovative activity, and who is benefiting? Metrics include economic output (e.g., GDP), wages, income and wealth distribution, and mobility.