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Innovation
Innovation is seen as an important catalyst for the development of the Falklands’ economy and a national priority for the islands. FIDC aims to promote and encourage innovation across the Falklands’ business community and Government through a new period of collaboration.
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Innovation
The Innovation Strategy
A phase of stakeholder consultation took place in October 2015, which centred around an Innovation Workshop. An Innovation Questionnaire was also produced to capture the views of those who were unable to attend the workshop. The workshop was structured in a way to gather information regarding the current environment for innovation in the Falklands, barriers that prevent innovation, how innovation can be encouraged, identifying innovation opportunities and the key factors needed to deliver a national innovation strategy. A total of 31 individuals, from both the public and private sectors, attended the workshop. The workshop was led by the Innovation Manager, assisted by six facilitators.
Research and Development - R&D
The Innovation Strategy hopes to encourage more Research and Development (R&D) in the islands as it can be considered very beneficial for economies, i.e. businesses and customers. R&D consists of investing in activities that a business chooses to conduct with the intention of unearthing a discovery that can either lead to the development of new products or services, or to improvement of their existing products or services. R&D is one of the means by which business can experience future growth by developing new products or services to improve and expand their operations, all based on fulfilling their customer’s needs.
About the FIDC
FIDC acts as the national economic development agency for the Falkland Islands and is tasked to develop the commercial sector of the Falkland Islands by being one of the principal partners delivering the Economic, Rural and Tourism Development Strategies.
To help drive sustainable economic growth and assist in the creation of new jobs and opportunities, FIDC provides various forms of support and assistance to the Falkland’s business community.
Working towards a highly successful, diverse and sustainable economy for the Falkland Islands
Development Corporation