Bangladesh has made significant progress in poverty reduction, healthcare, education and women’s empowerment, receiving global recognition for its achievements since its independence. Taking advantage of this momentum, the country has set an ambitious goal of becoming a developed economy by 2041.
Bangladesh’s growth trajectory indicates its potential to achieve Vision 2041. It is not a lofty dream far out of reach. One of the cornerstones for attaining this vision is the development of a knowledge-driven economy.
A knowledge economy aims to capitalise on information and communication technologies, innovation, and knowledge-based sectors to achieve long-term economic growth. The four pillars of the Knowledge Economy Framework are – a) a conducive economic and administrative environment, b) a well-educated and skilled population, c) An effective innovation system and d) appropriate use of information and communication technology.
Based on these frameworks, the Knowledge Economy Index (KEI) considers whether the environment of a country is favourable for the practical application of knowledge for economic development. The KEI is calculated by taking the average of a country’s or region’s normalised performance scores across all these four pillars.
According to the data provided by UNDP, Bangladesh ranked 120th out of 154 countries in the Global Knowledge Index 2021. Switzerland is the world’s leading performer, followed by Sweden, the United States, Finland and the Netherlands.
Among the performance scores for Bangladesh, the score assigned for higher education is 36.6, ICT is 28.3 and research, development and innovation is 19.2.
The life cycle of new technologies and goods is brief in a knowledge economy. This is why research universities, technological hubs, incubators and research parks must collaborate to keep up with and develop a constant flow of new information and innovation.
Conversations need to turn to the universities that populate the country and the role they need to play in helping Bangladesh establish itself as a knowledge-driven economy.
Current situation of universities in Bangladesh
Despite the government policies being rolled out to encourage technology adoption, entrepreneurship and skill development to influence a culture of innovation and creativity across the country, Bangladeshi universities are slow to adapt to their role in the knowledge-driven economy.
According to the University Grants Commission of Bangladesh (UGC), there are 54 public universities and 112 private universities in Bangladesh. These universities are responsible for educating and enlightening the minds of the next generation of leaders.
Though the number of universities in the country is significantly higher, the contribution to research and knowledge generation is not much in comparison. Universities rarely invest in research and innovation, especially the public universities.
The University Grants Commission (UGC) annual report data in 2020 shows that Brac University spent TK55.23 crore, the most on research in 2020, among the public and private universities. In contrast, Dhaka University spent Tk6.61 crore on research.
The presence of a thriving research culture at the universities is essential for the development of a knowledge economy. But attention must also be given to these institutes’ content, curriculum, pedagogy and programs.
Along with the age-old emphasis on STEM (Science, Technology, Engineering, and Mathematics) and the theoretical underpinnings of each discipline, be it business, arts, social sciences or humanities, the curriculum for every discipline should include courses on programming, software development, data analysis, artificial intelligence, machine learning and cybersecurity.
Universities should offer entrepreneurship, design thinking and innovation courses to help students explore and establish their ideas into a viable work model while tackling real-world challenges. Students should also be taught how to gather, analyse and interpret data to make data-driven decisions and generate insights.
Interdisciplinary collaboration in research activities, course curriculum or program development is essential as it can help students get a broader perspective and a more holistic approach to problem resolution.
As soon as they enrol, students in public universities are boxed into separate departments, unable to move across disciplines or select courses of their own choice in their selected discipline. They do not have the option to pursue a double major degree, nor can they major in a subject while minoring in another.
This strict adherence to a specific department from their admission renders it impossible for students to simultaneously gather and accumulate knowledge from various disciplines, thus contributing to one-dimensional thinking. The universities in Bangladesh, particularly the public universities, should encourage and allow interdisciplinary education among their students.
Triple Helix Model
Universities need to establish linkage with the industry as well as the government. Collaboration should not only be limited among universities but also extend to collaborating with the industry and government, therefore adopting the Triple Helix Model of Etzkowitz and Leydesdorff (1997).
The Triple Helix model – involving industry, university and government – emphasises the university’s social and economic significance. Universities need to have established, direct ties with industry to maximise knowledge industrialisation, which serves as the third mission of the universities apart from teaching and research.
Case in point can be South Korea’s Pohang University of Science and Technology (POSTECH) and Sungkyunkwan University (SKKU). The Pohang Steel Company founded POSTECH, which currently has partnerships with the industry and the government, has committed to putting Korea at the forefront of cutting-edge science and technology in the twenty-first century.
As a result of Samsung’s ownership of SKKU and extensive investment over nearly two decades, SKKU has been elevated to the status of one of South Korea’s top universities while closely collaborating with both private and public sectors to foster the effectiveness of the country’s national innovation system (NIS).
Towards SMART Bangladesh and Vision 2041
The concept of a knowledge economy means more than just economic rewards. It also includes a society empowered with knowledge that thrives on innovation, creativity and critical thinking.
As Bangladesh aspires to be a nation where technological growth and progress follow the innovation paradigm instead of the catchup paradigm by leveraging the power of knowledge to manage its difficulties, it needs to be supported by its universities. These universities, in turn, need to move away from their traditional roles as “ivory towers” of knowledge providers and adopt new roles such as generating and commercialising new knowledge.
In the current era of economic transformation, emphasis is placed on universities’ role in stimulating economic growth through industrially relevant research, technology commercialisation, high-tech spin-offs, attracting foreign talent and instilling an entrepreneurial mindset in its graduates. The universities of Bangladesh also need to collectively update and upgrade their philosophy, focus, curriculum, systems and infrastructure to help Bangladesh establish itself as SMART Bangladesh and a knowledge hub in Asia by 2041.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.