The government's "Perspective Plan of Bangladesh 2021-2041" has identified innovation as a key enabler to accelerate our economic growth. It aims at increasing the contribution of total factor productivity (TFP) to economic growth from the current 0.3 percent to 4.5 percent in 2041. Any improvement in TFP contribution essentially requires technological innovation, leading to the commercialisation of research results and ideas in the form of products, processes, services, etc. Indeed, as Robert Solow – the 1987 Nobel Prize winner in economics – states, "Technological innovation is the ultimate source of productivity and economic growth."
Image: The role of universities in creating innovation is vital. VISUAL: EHSANUR RAZA RONNY - https://www.thedailystar.net
