Denmark - Innovationsfonden

Denmark
Economy, Education & Skills and Innovation
Dr. Daniel F. Muzyka
President and CEO, The Conference Board of Canada.
March 2015
conferenceboard.ca
Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
2
1
There are three kinds of lies:
lies, damned lies and statistics.
Benjamin Disraeli
3
Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
4
2
Denmark’s Real GDP Growth
per cent change
4.0
3.0
2.0
1.0
0.0
-1.0
Denmark is in slow gear like most of
the developed world but is doing
better than many of its neighbours
-2.0
-3.0
-4.0
-5.0
-6.0
-7.0
07
08
09
10
11
12
13
14
15f
16f
Source: IMF.
5
6
3
7
Denmark’s Inflation
per cent
4.0
3.0
2.0
1.0
0.0
07
08
09
10
11
12
13
14
15f
16f
Source: IMF
8
4
Denmark’s Unemployment Rate
per cent
8.0
7.0
6.0
5.0
4.0
3.0
07
08
09
10
11
12
13
14
15f
16f
Source: IMF.
9
Denmark’s Debt
gross debt as a share of GDP
50.0
45.0
40.0
35.0
30.0
25.0
20.0
07
08
09
10
11
12
13
14
15f
16f
Source: IMF.
10
5
Denmark’s Fiscal Position
billions of krone
70.0
60.0
50.0
The Krone will continue to be under
pressure, particularly if the country
takes action for long-term success
40.0
30.0
20.0
10.0
0.0
-10.0
-20.0
-30.0
-40.0
07
08
09
10
11
12
13
14
15f
16f
Source: IMF.
11
World Real GDP Growth
per cent change
4.0
3.0
2.0
1.0
0.0
15f
13
14f
11
12
09
2010
08
07
06
05
04
03
02
01
99
2000
98
97
96
95
94
93
92
-2.0
1991
-1.0
Source: Consensus Economics
12
6
Denmark’s Export Markets
per cent of total
14
12
10
8
Denmark needs to continue to
diversify its export markets
into higher growth areas of
the world
6
4
2
0
Japan
Italy
China
Norway
US
UK
Germany
Sweden
Source: MIT.
13
2014 World Economic Forum Global Competitiveness
14
7
DENMARK’s Overall Competitiveness Ranking,
2014: 15th (2013: 14th)
Denmark (17th)
Denmark (9th)
•  Labour market efficiency
Denmark (13th)
• Health and primary
education (25)
• Institutions (16)
• Infrastructure (21)
• Macroeconomic
environment (16)
(12)
•  Financial markets (27)
•  Market size (54)
•  Goods market efficiency (23)
•  Higher Ed. & training (10)
•  Technological readiness (6)
Efficiency
Enhancers for
Competitiveness
•  Innovation (11)
• Business sophist. (11)
Innovation
and Business
Sophistication
Factors for
Competitiveness
Basic
Requirements
for Competitiveness
15
Source: The World Economic Forum, Global Competitiveness Report 2014-2015
DENMARK: Most problematic factors for
doing business (2014)
Source: The World Economic Forum, Global Competitiveness Report 2014-2015
16
8
Denmark’s Agenda
•  Denmark is a successful nation
•  The country has entered a period of slow growth
•  Denmark is better positioned than some
•  Its key resource is its people and what they can do
•  Education, skills and innovation are key assets
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Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
18
9
Education & Skills Report Card
• 
• 
• 
Overall, Denmark scores a “D” and ranks 13th among 16 peer
OECD countries.
Education & Skills indicators distinguish between three levels
of attainment: K-12, post-secondary education, and adults
and work.
Results
•  Denmark ranks low on students’ skills indicators
(reading, math, and science).
•  Scores “B” grades on university attainment and share
of PhD graduates.
•  “C” grade performer on share of science, math,
computer science, and engineering graduates.
•  Adult skills: relatively high share of adults with highlevel numeracy and problem-solving skills. Ranks
poorly on adult literacy skills.
19
20
10
Student Performance
Category
High-Level
Inadequate
Reading skills
D (16/16)
C (13/16)
Mathematics
skills
D (13/16)
C (10/16)
Science skills
D (15/16)
C (13/16)
21
22
11
23
24
12
Adult Performance
Category
High-Level
Inadequate
D (12/15)
C (10/15)
Numeracy skills
A (7/15)
B (7/15)
Problem-solving
skills
B (7/14)
C (8/14)
Literacy skills
25
Denmark Education
•  The older generation is doing relatively well
•  The next generation appears to have
opportunities for improvement
•  An increased emphasis on science and math
may be one of those opportunities
Denmark is competitive in education but has
some opportunities for improvement
26
13
Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
27
What is innovation?
Innovation Value Chain
Discovery
Development
Application
Social and
Economic Impact
Extension
Technologies
Products
Business
Concepts
Solutions
Value
Ideas
28
14
Innovation Report Card
A’s
B’s
C’s
D’s
1. Switzerland
4. Denmark
8. Ireland
11. Germany
2. Sweden
5. Netherlands
9. Japan
12. Australia
3. US
6. UK
10. France
13. Canada
7. Finland
14. Norway
15. Austria
16. Belgium
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Innovation Report Card
• 
• 
• 
Overall, Denmark scores a “B” grade and ranks 4th
among 16 peer OECD countries.
Innovation framework includes indicators that examine
the creation, diffusion, and transformation of ideas.
Results
•  Well-connected: scores an “A” on connectivity
(broadband and fixed wireless).
•  Denmark ranks relatively high on R&D spending
(public and business) and ICT investment, but
scores “C” on venture capital investment.
•  Also scores “C” grades on patents, trademarks,
new firm density, knowledge-based services, and
medium- and high-tech manufacturing.
•  Poorest performance is on export market share
indicators (electronics, aerospace,
pharmaceuticals, and instruments) – scale issue.
30
15
Denmark Innovation Report Card
The A’s
31
Sources: The Conference Board of Canada; OECD.
32
16
Sources: The Conference Board of Canada; OECD.
33
Sources: The Conference Board of Canada; OECD.
34
17
Denmark Innovation Report Card
The B’s
35
Sources: The Conference Board of Canada; National Science Board.
36
18
Sources: The Conference Board of Canada; OECD.
37
Sources: The Conference Board of Canada; OECD.
38
19
Sources: The Conference Board of Canada; OECD.
39
Denmark Innovation
The C’s
40
20
Sources: The Conference Board of Canada; OECD.
41
Sources: The Conference Board of Canada; OECD.
42
21
Sources: The Conference Board of Canada; OECD.
43
Sources: The Conference Board of Canada; OECD.
44
22
Sources: The Conference Board of Canada; World Bank.
45
Sources: The Conference Board of Canada; OECD.
46
23
Sources: The Conference Board of Canada; OECD.
47
Denmark Innovation
•  Investment in innovation is largely there
•  Ease of entrepreneurship and supports in place
•  Issues of scale and industry diversity
•  Risk capital an issue
•  Denmark is positioned relatively well: spirit willing
48
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Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
49
Lessons from innovative eco-systems
•  Desire
•  Initiative
•  Training
•  Coordination
•  Investment
•  Communication
•  Rewards
50
25
Lessons from innovative organisations
•  Focus: growth, renewal and opportunity
•  Leadership and culture: promoting, nurturing and protecting
•  Innovation management: sourcing and developing
•  Support: knowledge, communications and resources
•  Organisational agility: changing and reconfiguring
•  Measurement and selection: metrics and evaluation
51
Agenda
•  Introduction
•  Denmark by the numbers
•  Education in Denmark
•  Innovation in Denmark
•  Implications
•  Summary
52
26
Bottom Line
• Denmark needs to maintain speed and maybe
“kick it up” a gear
• A shared ambition may be helpful in some areas
• Some further investment in education may be in
order
53
Bottom Line
• Persistent demand of and support for innovation is
required
• Continued corporate focus on innovation and value
creation is in order
• Each of you needs to continue your contribution
Denmark is relatively well positioned for the future
but more demands are coming:
complacency is any wealthy country’s worst enemy
54
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