11.2b What forms of venture support grow innovative and inclusive businesses in developing countries, and what market access barriers do LMICs face in adopting critical technologies?
Background
Innovation has contributed to significant strides in development, from agricultural output in the green revolution, to financial inclusion and accessible services with mobile money and pay-as-you-go business models. FCDO researches and invests in cutting edge technology and innovation to test and scale new ideas, approaches, technologies and business models with the potential to accelerate progress on international development.
FCDO works at the forefront of advances in technology and innovation, in partnership with countries, NGOs and the private sector to strengthen the enabling environment for innovation, to build innovation ecosystems and technology capacity, and to grow the evidence-base on the effectiveness of new use cases. Without the right policies, regulation, responsibility and safety frameworks, and inclusive and behavioural design principles, new technologies can also bring disruption, cause harm and exacerbate inequalities. Creating a responsible and inclusive environment for safe technology development, that protects the most vulnerable, including women and girls and people with disabilities, while encouraging innovation to thrive, is a complex challenge faced by governments, especially those in LMICs.
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Topics
- economy, business and finance
- business information
- economic globalisation
- telecommunication service
- entrepreneurship
- small and medium enterprise
- politics
- government policy
- economic development incentive
- regulation of industry
- science and technology
- technology and engineering
- artificial intelligence
- society
Related UKRI funded projects
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The Diffusion of Innovation in Low Income Countries
Technological innovation is a key element of industrialisation and catch-up in developing countries. Since innovation is costly, risky and path-dependent, groundbreaking innovation is highly concentrated in a few rich co...
Funded by: ESRC
Lead research organisation: University of Oxford
Why might this be relevant?
The project specifically focuses on barriers to innovation creation and diffusion in LICs, which directly addresses the question.
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EU SDG Driven Innovation Ecosystems
SDG-Driven Innovation Ecosystems is a practice-based international consortium comprising the Global Steering Group for Impact Investing (GSG) and affiliated National Advisory Boards (NABs) for Impact investing in Israel ...
Funded by: Horizon Europe Guarantee
Lead research organisation: THE GLOBAL STEERING GROUP FOR IMPACT INVESTMENT
Why might this be relevant?
The project addresses scaling innovative solutions to the UN SDGs, which is related to growing innovative businesses in developing countries.
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KTN – DFID GCRF Africa Support
Global Alliance Africa is a six-year project jointly funded by UK Aid through Innovate UK (GCRF) and FCDO. The overall objectives of Global Alliance Africa are to build stronger UK-African and Pan-African knowledge and i...
Funded by: Innovate UK
Lead research organisation: KNOWLEDGE TRANSFER NETWORK LIMITED
Why might this be relevant?
The project focuses on building knowledge and innovation partnerships in Africa, which is relevant to growing innovative businesses in developing countries.