The trend in the past few decades, not just in education, is to break things apart and become an expert in a specific field. This idea has led to the emergence of numerous experts with specializations. When it comes to education, particularly in entrepreneurship, one must excel at identifying and driving innovation. As a result, there are now hundreds of frameworks available on innovation, including the Lean Startup, Business Model Canvas, and Design Thinking, to name a few. These methods have generated countless innovative ideas, ranging from new products to branding. However, innovative ideas cannot thrive on their own. Innovation requires an environment with a support system that starts at the grassroots level.

Nobel Prize winner Edmund Phelps introduced the term “Dynamism” to describe his perspective. According to Phelps, the high level of innovation in the Western world is not solely the result of scientific discoveries combined with entrepreneurship, as believed by Schumpeter. Instead, it is primarily driven by modern values such as individualism, vitalism, and self-expression at the grassroots level. In addition to these values, there must also be problems to solve, as well as support from the government and financial institutions. This comprehensive system is what creates dynamism.

Looking at our country, we see that many people are engaged in business but may not necessarily be entrepreneurial. However, this is not a problem, as a business can become entrepreneurial once the founder applies the principles of innovation. The actual problem lies in the lack of avenues for growth due to an underdeveloped ecosystem. Many people in business are more focused on survival rather than solving market problems. There are also few financial institutions willing to take risks on startups, and business ideation tends to involve copying successful businesses rather than addressing market needs.

Dynamism should not be viewed as a chicken or egg problem with no clear starting point. Efforts to drive dynamism should begin with government initiatives. A prime example is South Korea, which successfully created a global market for its entertainment industry through government lending and substantial investments.

Innovation, and the study thereof, cannot exist in isolation. For it to grow and flourish, it requires an environment that supports it.