Let me be honest right away: that innovation climate worries me with my view on the coalition agreement in outline and the new cabinet. The Netherlands was already late in getting involved in stimulating the innovation climate and the current cabinet does not seem to be making any extra progress with that. And that while innovation is the oxygen of the economy of tomorrow, of the day after tomorrow even. Much more attention is really needed for innovative entrepreneurship as the engine of the future earning capacity of the Netherlands.
Enough innovation potential
It is not due to the innovation potential in our region. When visiting entrepreneurs, I am always amazed by all the beautiful things in terms of innovation that are happening in Noord-Holland happen with new technology, green energy and sustainable food supply. For example, I recently visited a company that grows algae to partially replace meat. The mission of this entrepreneur is that products will soon contain only 25 percent meat; a shift that the consumer does not notice. Precisely because many of these types of innovations take place under the radar, it is up to us to help entrepreneurs get their solution market-ready and into the spotlight. With the ultimate goal that they can make the impact they are aiming for.
Ministry of Entrepreneurship
A well-known problem with emerging innovations is that the private market often does not dare to invest. In such a case, persevering with public support is crucial to prevent a promising product or project from failing. In view of the coalition agreement, I honestly do not see a structure for this emerging in the near future. Just look at the names of the ministries: why do we still not have a ministry for Innovation? I look with some envy at Sweden, where the Ministry of Economic Affairs is called the Ministry of Entrepreneurship. In the Netherlands too, it would be good if we valued the importance of innovation more highly and viewed our economy through a different lens.
One success makes up for the rest
Public money is of course tax money. I therefore understand the resistance that people feel when that money goes to companies that subsequently fail. Yet this is part of it if you – like us – invest in the very first phase of innovative entrepreneurs. After all, they still have to go through a whole organizational and market development. The reality is that most of them will not make it, but success compensates for all investments in companies that have gone bankrupt. That is how the game works. It is important that we explain why we are investing in this early phase and why this is good for the future earning capacity of North Holland. What helps with this are the practical examples of bankrupt companies whose technology is being further developed elsewhere.
Keep looking far ahead
It is also crucial that we all continue to look far ahead. Entrepreneurs, politicians and investors must concern themselves even more with the North Holland of the future than with that of today. Only in this way can we be prepared for a new economy of tomorrow. North Holland has no fewer than 450,000 entrepreneurs, from the cheesemonger around the corner to innovative entrepreneurial family businesses. How do we help them further and what is needed for that? We must continue to ask ourselves that question.
Well deserved holiday
Before we collectively consider this issue again, it is now time for a well-deserved holiday. I wish everyone relaxing weeks – with friends, family or solo, abroad or at home and perhaps even in familiar North Holland. If you want to stay informed about us: ROM InWest continues to operate on LinkedIn, so please follow us there.
