The Covid pandemic had a significant impact on innovation in healthcare, but there are signs that the changes might be proving short-lived. For instance, investment in medtech startups halved during 2022 compared to 2021.
A recent study suggests, however, that the collaborative and open approach to innovation that came to the fore during the pandemic might have a better chance of enduring. The researchers analyze 218 different studies on innovation during the pandemic.
Changes to how we innovate
“During the unprecedented times of COVID-19, many frugal innovations have been set up,” the researchers explain. “For instance, India refitted trains into hospital wards, and China constructed a hospital with a 1000-bed capacity.”
The pandemic also saw growth in the use of open data, which helped to promote better exchange of information, while numerous publicly-facing websites were developed to inform the public about the spread of the virus and reduce misinformation. The researchers were also pleased with the use of scientific evidence in policy making.
“The use of scientific evidence is pertinent and visible in policy making, which reflects that policy-related documents have exclusive citations from published academic research articles,” the authors explain. “It is evident from the COVID-19 pandemic that scientific research reflects upon the socioeconomic aspects of policy decision-making.”
Smarter policy
The authors are confident that science, technology, and innovation can significantly help in the creation of smart strategies to allow society to better prepare for whatever crises might lurk around the corner, whether related to cyberattacks or climate change. Indeed, they believe that they form the bedrock of so-called “shock agility”.
“Following the extraordinary use of real-time granular data (e.g. movement data, pulse surveys) and big data visualization and analysis tools during the pandemic, new tools for science, technology and innovation policy may become more important,” the authors conclude. “As a result, science, technology and innovation policy responses may become more flexible, targeted, and ultimately more effective. Unconventional policy methods, such as techniques that embed strategic foresight inside policymaking.”
They urge policymakers to take a systemic approach to innovation, and develop policies that have an impact on the entire system rather than just one component or activity. When it comes to accelerating the shift to green mobility, for example, this necessitates investing in suitable technologies. If this can be achieved, then they’re confident that the pandemic will be one crisis that didn’t go to waste.
