FINNOV

Financing Innovation and Growth: Reforming a Dysfunctional System

The final conference of the FP7 FINNOV project (Finance, Innovation & Growth, www.finnov-fp7.eu), focused on the need for finance to be reformed so that it serves innovation and value creation - rather than innovation serving finance and too much value destruction. Our motto is: finance for creative destruction not destructive creation.

Download the detailed conference programme

February 1, 2012 (House of Commons, Westminster, London, 4-6pm)

On Feb 1st the conference opened at the House of Commons, Westminster, with 4 themes being discussed by keynote speakers, followed by a debate:

1. Welcome: Finance for Innovation vs. Innovation for Finance (video)
   Prof Mariana Mazzucato (FINNOV Coordinator, University of Sussex) (transcription)
    
2. Finance, Innovation and the UK Growth Strategy (video)
   The Rt Hon David Willetts MP(Minister of State, Universities and Science, Department for Business, Innovation and Skills (transcription)
    
3. The New Innovation Economy: Productive Business and Active Government (video)
   Ms Chi Onwurah MP (British Member of Parliament and Shadow Minister for Innovation and Science) (transcription)
    
4. Finance, Innovation and the EC Horizon 2020 Strategy (video)
   Dr Peter Dröll(Head of Unit, Policy Development for Industrial Innovation, DG Enterprise and Industry, European Commission)
    
5. Driving the Post-Crisis Recovery (video)
   Chair: MrPaul Mason (BBC Newsnight Economics Editor)
   Prof Giovanni Dosi (Sant’Anna School of Advanced Studies) 
   Prof Alan Hughes (Cambridge University) 
   Prof Bill Lazonick (Bordeaux University)
   Prof Stan Metcalfe (Manchester University) 
   Dr Paul Nightingale (Sussex University)
   Prof Carlota Perez (Tallinn University, LSE and FINNOV Advisory Board)
   Ms Vicky Pryce (FTI Consulting)

February 2, 2012 (Italian Cultural Institute, London, 9am-6.30pm)

On Feb 2nd the conference continued at the Italian Cultural Institute highlighting FINNOV results on the connections between financial markets and the real economy. Presentations were split into three sessions:

1. FINNOV Highlights and Introduction (video)
   Prof Mariana Mazzucato (FINNOV Coordinator, University of Sussex) (presentation)
   Mr Dominik Sobczak (European Commission FP7 Project Officer) (presentation)
    
2. Session 1: Economic Performance: Misleading Indicators and Distorted Incentives  
   Prof Giovanni Dosi (Sant’Anna School of Advanced Studies) (video, presentation)
   Prof Mariana Mazzucato (University of Sussex) (video, presentation)
   Prof Bill Lazonick (University of Bordeaux) (video, presentation)
   Prof Alan Shipman (The Open University) (video)
   Chair: Mr Tony Clayton (Intellectual Property Office)
   Discussant: Ms Vicky Pryce (FTI Consulting) (video)
    
3. Fool’s Gold, the Media and the Financial Crisis  (video) 
   Dr Gillian Tett (Financial Times)
   Discussant: Dr Samah El-Shahat (Al Jazeera English)
    
4. Session 2: Venture Capital and Public Research: Where are the Googles?
   Dr Andrea Mina (Cambridge University) (video, presentation)
   Dr Matthieu Montalban (Bordeaux University) (video, presentation)
   Dr Paul Nightingale (Sussex University) (video, presentation)
   Chair: Mr James Fierro (Recipco Capacity Exchange, Ltd)
   Discussant: Prof Keith Smith (Department for Business, Innovation and Skills) (video)
    
5. Session 3: Financial Fragility and the Next Bubble
   Prof Ronald Dore (LSE) (video, presentation)
   Prof Mauro Gallegati (Polytechnic University of Marche) (video, presentation)
   Prof Mary O'Sullivan (University of Geneva and FINNOV Advisory Board) (video, presentation)
   Dr Petr Zemcik (CERGE-EI) (video, presentation)
   Chair: Sir Geoffrey Owen (LSE, FT, and FINNOV Advisory Board) 
   Discussant: Mr Dimitri Zenghelis (LSE, Cisco Advisor) (video)
6. Keynote and Discussion: Financial Bubbles, Crises and the Role of Government in Unleashing Golden Ages
   Prof Carlota Perez (Tallinn University of Technology, LSE and FINNOV Advisory Board) (video, presentation)
   Discussant: Prof Leonardo Burlamaqui (Ford Foundation) (video)