Globalization and new technologies are creating new opportunities for growth. Information and communications technology speeds up access and rate of return on this knowledge. The result is improved product quality, reduced cost, better adaptation to consumer needs, and new products. The more advanced economies are taking a leading role in this process. On the downside, there is also an increasing digital, scientific, and technological divide between the more developed countries that are taking advantage of knowledge, science, and technology for economic well being, and the less developed countries that are not adequately participating in this revolution. With their high literacy rates and highly developed educational infrastructure, the countries of Europe and Central Asia (ECA) are widely seen as well-poised for transformation into knowledge-based economies. Yet the global knowledge economy poses enormous challenges to governments and societies that seek to join it.
In recognition of this challenge, in 2002, the ECA Region of the World Bank – in partnership with the European Commission and the OECD – organized the first Knowledge Economy Forum (KEF) in Paris, focusing on national knowledge economy strategies. Since then, the Forum has become an annual event involving all ECA client countries. Between 2003 and 2006, the KEF took place in Finland, Hungary, Turkey, and the Czech Republic. The audience has grown and matured. The 2007 Forum, held in Cambridge (U.K.) in partnership with Cambridge University and the regional authorities, focused on policies for innovation and technology acquisition. The KEF series encouraged ECA client countries to develop knowledge economy strategies based on a value-added approach, rather than facing the difficulties or impossibility of competing through low labor costs with other regions (East Asia and South Asia). The next KEF will focus on Technology Absorption by Innovative Firms, with an emphasis on SMEs.
"Enterprise Incubator Foundation (EIF), established as a part of the WB Enterprise Incubator LIL project, to support the domestic IT sector, was instrumental to the industry’s continued double-digit growth during the last 5 years. Specifically, EIF activities aimed to increasing the quality and number of IT professionals, initiating investment projects in R&D and innovation-driven start-ups, and implementing business development and marketing programs to promote the image of Armenia as a knowledge-based nation."
"The Knowledge Economy Forum organized by the WB in Cambridge provided EIF with an excellent opportunity to participate not only as a member of the Armenian delegation, but also as a presenter sharing its accumulated knowledge and experience in the region with other ECA countries. The Forum’s format and design were very effective in facilitating such a dialogue. In summary, we can say that the Cambridge Forum has played an important role in shaping EIF future strategy and designing of a new ICT strategy in Armenia."
—Bagrat Yengibaryan, Director, Enterprise Incubator Foundation, Republic of Armenia
"The Cambridge event was an ‘eye opener’ for delegates from countries that are at the starting point in strategizing the use of their intellectual property – countries where the government can now afford to promote innovation and technologies by investing in science and education but is in need of better guidance on how to utilize the product. Cambridge showed brilliant examples of how it can be done if strategically planned and supported by the government at the right time. It is just a matter of learning from those experiences"
—Namig Tagiyev, Director of Institute for Economic Reforms, Ministry of Economic Development of Azerbaijan
Dialogue and experience sharing by key stakeholders in ECA countries: 80 senior level officials from key ministries; technical and research institutes, academia, and private sector representing 25 countries participated in the Cambridge Forum.
Dissemination of knowledge economy research: more than 40 presentations were made at the Cambridge Forum.
The events helped garner interest by client countries in adopting policies and generating and implementing knowledge economy strategies. For example, Azerbaijan and Georgia expressed their interest in support of knowledge economy projects similar to those presented at the Cambridge Forum.
The model of Knowledge Economy Fora is being replicated in client countries. With World Bank assistance and participation, Armenia and Ukraine have organized targeted Knowledge Economy Seminars.
Co–Sponsors
British Council
University of Cambridge
East of England Development Agency
Greater Cambridge Partnership
Organizers, ECSPF
Mr. Fernando Montes-Negret, Sector Director, ECSPF
Ms. Natasha Kapil, Knowledge Economy Forum VII Co-Team Leader, ECSPF
Ms. Tatiana Segal, Knowledge Economy Forum VII Co-Team Leader, ECSPF
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