Chancellor Rose Tseng
Chamber Column
May 2008
Innovation is key to 21st century prosperity
It was an honor to speak at the annual meeting and international conference of the Association to Advance Collegiate Schools of Business held in Honolulu. I talked about the role of universities in regional prosperity and I’d like to share some of the presentation with you.
You could say UH Hilo is at the center of a big economic experiment. As an economic engine with impact exceeding $144 million and 3,000 new jobs, it’s not hard to see the effect UH Hilo has on the economy. We are the second largest employer in east Hawai’i and the engine for workforce development. We are serving many first generation college students. We are improving the quality of life for individuals, families and communities.
Still, there is much to be done. In comparison to other countries, our nation lags in the proportion of its population who have associate degrees or higher. Because the future of America depends on a workforce proficient in science and technology, the lack of professionals in these fields is a gathering storm unless we act now.
UH Hilo is answering the call. We have pioneering programs in science, technology, engineering and mathematics, or STEM fields. Many of our programs integrate culture, science and technology to prepare students for global challenges.
We also are doing community outreach at UH Hilo’s University Park of Science and Technology, ‘Imiloa Astronomy Education Center, Innovation Center of Hawai’i, and Small Business Development Center.
Our College of Business and Economics is answering our island’s professional workforce needs with progressive programs, internships and a new bachelor’s degree in accounting this fall. Business majors are also able to minor in a science or develop joint degrees with our Pharmacy or other professional programs.
In fact, interdisciplinary programs are the trend in higher education, and UH Hilo is ahead of the curve in partnerships and entrepreneurial programs. Our master’s program in Tropical Conservation Biology & Environmental Science is a great example of partnerships both internally between departments and externally with government agencies.
An article from BizEd, entitled “The Next Economy” (March/April 2006), says the emerging role of business schools is to develop students who are scientifically and technologically literate, skilled in leadership for a diverse workforce, and who can think critically and build sustainable businesses. The greatest need is for business schools to encourage creativity and innovation.
Organizations like the National Governors Association also say that innovation is the key to economic prosperity in local economies and the global marketplace. Innovation combines human, intellectual and financial capital, and we need to enhance all three or our workforce will soon be less educated and less competitive.
UH Hilo and universities across the nation are building a culture of innovation. We are instilling in our students a work ethic that makes them keenly alert to new ideas, gives them the ability to select the right ideas and then take the necessary risks to guide the good ideas to the marketplace. It’s imperative that business leaders of the 21st century encourage innovation and provide incentives to take risks.
I want to thank the Chamber and its members for the tremendous support. When we all work together, great things can happen!
Mahalo and Aloha,
Rose Tseng