While we may be very lucky here in Canada and may not feel (yet) the effects of the global crisis, some countries are not as lucky.
I just attended a major business conference in Israel, the Globes Conference, and business leaders there seemed to be very concerned by the situation. One of the key speakers, President Shimon Perez, addressed the audience and gave a very insightful speech on some areas where energies should now be focused in order to reduce the effects of the crisis there. More precisely, he suggested that tax exemptions should be provided for investors in the following fields:
1. renewable energies in order to avoid being dependent on oil;
2. innovations pertaining to the creation of new water resources;
3. stem cells research;
4. innovations related to antiterrorism equipments;
5. innovations for advanced teaching equipment.
He mentioned that it is therefore time for innovation and that the crisis calls it. He further mentioned that we should not fall into pessimism since both pessimisms and optimisms die.
The only difference is the way they live.
The key for me here is the fact that the heart of his suggested plan is innovation. Intellectual property is therefore also key since it is there to protect it.