Nicholas A. Bloom, an economics professor at Stanford School of Humanities and Sciences, came up with an evidence-based toolkit for governments looking to create innovation.
The new toolkit, which aims to teach governments about which policies that are backed by research, is in collaboration with economists Heidi Williams of Stanford University and John Van Reenen of the Massachusetts Institute of Technology.
In a recent paper in the Journal of Economic Perspectives, there are five policies that Bloom and his colleagues say that can effectively drive innovation.
These five policies include: 1) Offering tax incentives for R&D; 2) Promoting free trade; 3) Supporting skilled migration; 4) Training workers in STEM fields; and 5) Directing grants for R&D.
Bloom and his colleagues also found three policies that may go toward increasing innovation but not evidence-supported, such as: 1) Providing incentives for University researchers; 2) Engaging in intellectual property reform; and 3) Embarking on mission-oriented projects. Read the Entire Article
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Rivaayat is an initiative by Shri Ram College of Commerce, Delhi to revive various dying art form and solve innumerable problems faced by the artisans. Rivaayat began with reviving a 20,000-year-old art form of pottery that is a means of survival for 600 families residing in Uttam Nagar, Delhi.