What Mahabir Pun gets wrong about innovation: Nepal must first build the ecosystem
Summary
Mahabir Pun's call for Nepal to spend 2% of GDP on R&D overlooks the need to first build an innovation ecosystem with capable institutions and commercial partners. Nepal must focus on applied research and industrial learning to foster economic growth.
Key Points
- Mahabir Pun advocates for Nepal to spend 2% of GDP on research and development to reduce reliance on imported ideas and talent export.
- The article argues that high R&D spending in developed countries is driven mainly by private firms with the capacity to commercialize discoveries, which Nepal lacks.
- Nepal should prioritize applied research that solves local problems and fosters collaboration between universities and the private sector instead of mimicking rich nations' R&D ratios.
- Building an innovation ecosystem with competitive firms, capable universities, and market rewards for risk is essential before increasing R&D spending in Nepal.
