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Yehuda “YJ” Draiman - Candidate for Mayor of Los Angeles 2017 YJ Draiman is the lead elected official 4th term, for the Northridge East Neighborhood Council – NENC, he is also the liaison between the NENC and LADWP. As an Energy Efficiency Advocate YJ Draiman is known for his advancement in... More
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  • Creating Jobs Thru Innovation - Conditions - Draiman 0 comments
    Jan 13, 2013 7:22 PM

    Creating Jobs thru Innovation - Conditions

    Conditions to rebuild the American economy!

    Vigorous competition

    Highly competitive markets fuel the speed of innovation. In markets where near monopoly conditions exist, innovation slows to a crawl as the company has no outside force challenging its leadership position.

    Stable economic environment that is pro-business

    The willingness of organizations to invest in the development of innovations is the tied to the economic return they will receive. Therefore stable economic environments (e.g. low inflation, growing GDP, predictable non-burdensome tax regulation, etc) allow for organizations to plan and commit to the long investment cycles needed for breakthrough innovations.

    Availability of risk capital

    Whether it is from within an organization or from venture capitalists, risk capital is a fundamental requirement for innovation. Without it, the idea dies before it even has a chance.

    Transparent regulatory systems

    The regulatory systems need to be open and free from biases. The lack of a transparent regulatory system discourages organizations from developing new innovations since the ability to secure the reward is blocked by others who use influence to prevent a truly competitive marketplace for ideas.

    Ethics and the rule of law

    When some of the conditions are non-existent, innovation can still flourish where there is a moral and ethical structure in place. The core is a legal and judicial system that ensures uniform application of the law to all parties.

    A strong emphasis on education

    The engine that makes innovation happen is our ability to apply human ingenuity to the problems and opportunities that emerge. The education system is critical to nurturing human ingenuity by establishing a foundation of critical and creative thinking skills.

    A strong research and development infrastructure

    Research and development infrastructure is established when the government, universities and industries achieve a high level of alignment, support and cooperation. To achieve this level of support, incentives and rewards need to be in place to encourage the right behaviors.

    Effective protection of intellectual property

    Without an effective intellectual property policy, there is little to no incentive to invent. It is through the guaranteed protection that rewards the risks taken to discover and commercialize breakthroughs.


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