The Changing Nature of Work: 30 signals to consider for a sustainable future

SIGNAL 29. State-driven entrepreneurship

With respect to entrepreneurship, private firms usually receive a great deal of attention and are given credit for all the positive outcomes, mainly economic growth and widespread excitement about new products and services. Although this attention is well deserved, the unconditional trust put in the private sector distracts from the achievements of public entities that also create significant value. 

In some cases, public entrepreneurship is the real engine behind today’s most impressive innovations such as the famous iPhone, but most people believe that they are intellectual products of tech geniuses backed up by venture capitalists. The truth is, governments all over the world play a major role in not just creating enabling conditions for innovation and entrepreneurship, but also actively funding research and 42 .The Changing Nature of Work development (R&D), which leads to impressive products and services. Some of the new technologies are directly sold by public entities, and others are licensed to private firms that create new products based on these technologies. And sometimes, innovations are jointly produced by public and private entities, usually through public-private partnerships (PPPs), which reflects the complementary qualities of both sectors. Another common way for the state to support entrepreneurship is setting up innovation agencies that draft national innovation strategies and create new initiatives to stimulate innovation and entrepreneurship, mostly through wide-ranging incentives including seed funding, challenge prizes, incubation and co-investment.

As seen with the recent pandemic, the private sector is much more fragile than previously thought, especially when shocks of unprecedented levels occur. With this in mind, we should soon expect to see a larger role for, and wider recognition of, state entrepreneurship, especially in relation to missionoriented innovations that are inclusive and sustainable. Despite their perceived lack of creativity and slow decision-making, the pursuit of opportunity for social good lies at the heart of how states operate. Their continued success will rely on whether and how fast they can create the appropriate internal conditions for exploration and experimentation.

Check out the next signal, #30: Policy Development.

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The Changing Nature of Work: 30 signals to consider for a sustainable future

Work helps sustain livelihoods and largely determines the quality of life. Its changing nature is at the frontier of development. This report is the result of a broad horizon scanning by six UNDP Accelerator Labs across Europe and the Commonwealth of Independent States.  They reveal 30 signals that shape the “where, who, how, and why” of the changing nature of work. From the impact of COVID-19 on the workforce to new work models and entrepreneurial ecosystems, the authors explore opportunities and threats, as well as solutions from local contexts that can be scaled up into positive answers to the challenges people around the world are facing.  Download the full report here.