Innovate & InspireTeam Name: Dig this…

Team Leader: Gayathri Kamarajan (Anna University, India)

Team Members: Prashanth Prakash (Anna University, India)

Selected EE : Slovenia

Country

EASTERN EUROPE(EE)

After analyzing the Macro Economic condition things were clear.

With the increase in ICT and globalization, the only issue we and

the future are going to face is a sustainable living.

What`s there in EE?

People: The workforce here is well educated and more productive.

They are ambitious and fluent in foreign languages.

Technology: A lot of people think that Eastern Europe has less

technological advancements. However, these countries

are technically advanced when compared to West

Serving as a host for an attractive market of the future, Eastern Europe will have successful organizations in the years to come

WHY SLOVENIA?

High Purchasing Power (About 90% of EU average)

An excellent geographical position serving as a gateway to South East

Europe.

Hydroelectricity (Slovenia has one of the richest water resources in Europe)

and Nuclear energy are its powerful assets

The first country to undergo a transition from borrower status to a donor

status in 2007

Most of the revenue generated are from offering services and Tourism

No (or) Less

Local Clients

Bureaucracy

Issues

Low Labor

Freedom

Uneven Structural

reforms

Brain Drain

Less

Competition

Less Financial

Freedom

Productivity Gap

Less Investment

in R & D

PROBLEMS OF SLOVENIA (EE)

High Drop-out rate

(almost 15%)

These Highlights are from various online sources where we studied

about Slovenian economic Condition

“The banking system remains fragile despite the second recapitalization of the largest bank in June,” the European Commission

According to Dr Aljaž Ule, assistant professor at the Faculty of Economics and Econometrics at the University of Amsterdam and the Faculty of Mathematics, Science and Information Technology at the University of Primorska. The problem has a lot to do with 'brain return'.

The Bank of Slovenia uses the threat of fines to force its foreign scholarship holders to return. Getting experienced Slovenians to return to Slovenia or at least collaborate with Slovenia is something that needs to be motivated, not compelled.'

With no minimum capital required, launching a business takes only six days, but it still takes almost 200 days to complete all of the necessary licensing requirements.

Economic expert Ales Ahčan pointed out the lack of structural reforms (pension, health, tax), resulting in Slovenia, in his opinion uncompetitive.

Economist Joze Damjan expressed that the fall in GDP by expecting somewhat surprising as it seems "dramatic scale of the decline in economic activity." This is lower by 2.8 percent, resulting in a negative year.

"As long as we levy a superior best draft horse, we will lose these towing horse and even more behind the majority"

Expenditure on R&D as % of GDP: 2,1 (2010)Gross expenditures on R&D (GERD) (mio EUR) 746 (2010)Number of research organizations: 630 (2010)R&D personnel in head count: 17.972 (2010)Researchers in FTE: 7,7703 (2010)Researchers (FTE) per 1000 persons in employment: 9.4 (2010)Source: Statistical Office of the RS (Slovenia in Figures publications)

The above graph shows the comparison of the Investment freedom of UK (Blue) Vs China (Green) and Slovenia (Red) The black dots represent the world average

Src: http://www.heritage.org/index/country/slovenia

Vision for Future Slovenia

As the title of the vision says Innovate and Inspire, the slovenian economy has to

find new innovation methods in order to sustain in the future.

Innovation can happen anywhere at any time and can be done by anybody. All

they need is a little inspiration and focus.

Companies have now started to focus on managing energy efficiently and

creating sustainable solutions.

In a data driven era, emerging technologies such as green engineering and

Biomimicry are expected to pave way for a sustainable future.

Its easier to fight for a principle than to live up to them – Alfred Adler

Image Src: www.therightplanet.com

Instead of fighting for a

sustainable future, we must have

to take a step forward for

executing them

With the help from Local people

and co-operation from

professionals, an innovative idea

can turn into a successful

Business organization

The organization that helps in

innovation must also inspire

people to apply it.

Future Slovenia

A lot of online courses that are available must be used effectively. Educate

yourself in the field you wish and come up with innovative ideas and inspire others

to do so

Form a local group and brainstorm ideas for creating a successful organization

The group has to meet regularly and come up with ideas which are feasible to

implement

Better Future

Local development Better Communication

methodsSustainable Solutions