Inclusive Competitiveness explained
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National competitiveness is defined as the set of institutions, policies and factors that determine a country's productivity and prosperity. Regional competitiveness refers to a region's ability to offer an attractive environment for firms and residents to live and work, as measured by the European Union's Regional Competitiveness Index. Inclusive Competitiveness applies this framework to disconnected populations within a region to improve their performance in today's innovation economy. It borrows the factors that promote regional competitiveness to benefit disconnected communities typically excluded from such plans.
Inclusive Competitiveness explained
- 1. ScaleUp Partners LLC | 516 Southeast Morrison Street, Portland Oregon 97214 | partners@scaleuppartners.com What is Inclusive Competitiveness? National Competitiveness is defined by the World Economic Forum as the set of institutions, policies and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the level of prosperity that can be earned by an economy. The Global Competitiveness Index assesses the landscape of 144 economies, providing insight into the drivers of their productivity and prosperity Regional competitiveness is defined by the European Union’s Regional Competitiveness Index, as the ability to offer an attractive and sustainable environment for firms and residents to live and work. The RCI is an economic formula comprised of 11 pillars applied to 27 member states. It assumes a close link between competitiveness and prosperity and factors in dimensions that national indicators cannot capture: Institutions & Infrastructure, K-12, Higher Education & Life-long Learning, Health, Labor Market, Tech-readiness & Local Innovation Ecosystems. Inclusive Competitiveness borrows from regional competitiveness and applies the definition to a subset of disconnected populations within a targeted region. It is an interdisciplinary framework to create community systems that improve the performance of disconnected Americans within today’s Innovation Economy. The same factors that promote regional competitiveness can be applied to disconnected communities that are typically not included in regional competitiveness plans. This paradigm is shifting. The Ohio Board of Regents last year unanimously adopted our Inclusive Competitiveness policy report and recommended approach. WHY #INCLUSIONMATTERS Business productivity plays a major role in regional competitiveness. And the fastest growing business startup landscape is among Black and Latino entrepreneurs at 60% and 44% respectively, compared to the national average of 18%. Yet, all black-owned and Latino-owned businesses combined produce less than 3% GDP and a mere 1% of job growth. These two populations alone will comprise 42% of America’s population by mid-century. Johnathan Holifield, architect of Inclusive Competitiveness, says, “America simply cannot reach her highest competitiveness goals with so much of the population producing so little.” Portland is creating a regional competitiveness plan that prioritizes the cultivation and inclusion of all its local talent. Still, efforts remain fragmented in various isolated community sectors. ScaleUp Partners works with leaders across community, business and government sectors in building shared vision, strategy and action that create the opportunity for building Inclusive Competitiveness frameworks.