Abstract
Indonesia's National Innovation Policy requires consistent support from the private sector participation to raise its knowledge-based economic growth and become one of the top 15 powerful countries in the world by 2045, as declared by the Presidential decree. The low participation rate of private industries in R&D activities is a cause for concern for the government, as an effort to improve the country's social and economic performance must be a shared responsibility. This chapter looks into how the private sector participation in innovative effort plays an essential role in improving the country's economic performance. The challenges that lie ahead in achieving the goals of National Innovation Policy rest with both the government and the private sector.
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