Trend Transformative innovation policy is becoming a global science, technology and innovation norm

Summary

Traditional innovation policy focused on correcting market failures through R&D investment and system failures through stronger networks. As it became clear that better growth indicators do not solve grand social problems such as climate change and polarisation, a paradox of growth emerged. Transformative innovation policy, which directs innovation toward social value and sustainability, has risen internationally in response. The OECD, UNESCO and other international bodies are moving it from academic discourse into the implementation of global STI norms aimed at shared goals and system-wide paradigm change as a global public good. The framework stresses value-based directionality, multi-stakeholder inclusiveness that guarantees participation by civil society, NGOs and marginalised groups, and systemic coordination through policy mixes rather than silos.