Economic Transformation Strategy

CHAPTER 2 / BROAD STRATEGY FOR DEVELOPMENT GOALS AND STRATEGIES GOAL 1: AN ENABLING ENVIRONMENT FOR RESEARCH AND DEVELOPMENT This goal focuses on enhancing the current environment for the promotion of research and development within the country. R&D is vital for obtaining new knowledge and for the seamless integration of new and relevant technologies within our society. In addition, appropriate research can aid in the formation of sound policies for the betterment of the people. Strategies 1.1: Incentivise relevant stakeholders to promote a research culture. Provision of incentives to relevant stakeholders for R&D purposes can act as a motivation and a catalyst in fostering a research culture across all sectors. The promotion of such a culture can serve as a tool for policy formulation and to en- sure aid in informed decision-making across all levels of government. The achievement of such a strategy would require the development of a National Innovation System which would provide people, enterprises and institutions access to technology and information which is essential to innovation on the national level. 1.2: Facilitate the creation of incubators. The creation of incubators for business and technology would facilitate new and start-up businesses to build the neces- sary capacities in an effort to increase their survival rate. Such an institution would provide services such as manage- ment training and office space. Incubators are regarded as a key driver for national economic development. 1.3: Facilitate the creation of a physical and virtual co-working space (OASIS). This is primarily aimed at attracting ta- lents, knowledge and skills in an effort to build networks globally. This could instill an innovation and entrepreneurship culture within our society which could help address the problems faced by our small island state. This will further allow more investment opportunities and new start-ups. GOAL 2: A KNOWLEDGE-BASED, INNOVATION-ORIENTED ECONOMY WITH THE INTEGRATION OF STI ACROSS ALL SECTORS AND PROGRAMMES. The attainment of an economy which is characterised by the recognition of knowledge as a source of competitiveness and the increasing importance of science, research, technology, and innovation in knowledge creation. It is also cha- racterised by the use of computers and the internet to generate, share, and apply knowledge. Hence, with this goal, Seychelles aims towards a higher dependency on knowledge, information and high skill levels. Strategies 2.1: Engage a wide proportion of the population, especially the youth, as innovators and end-users of relevant and appropriate STI for Seychelles. Successful attainment of Goal 2 requires a sharp penetration of science, research, and technology in all sectors. The education system can be utilised as a starting point for such an infiltration by increa- sing the number of STI-oriented programmes being provided at school level. Key indicators and targets Science, technology and innovation for development 64 Indicator Data source GERD as a percentage NISTI of GDP Baseline Target 0.4% 1.5% (2017)

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