3 Ways to Stimulate Innovation on an Island

I live in London, but the Isle of Man is my homeland. It’s a beautiful place to grow up. It’s also a pretty great independent economic microcosm. If you can test out an innovative business on the Isle of Man, and succeed with it, it might just be scalable around the world.

What do you already know about the Isle of Man? The TT motorbike races? Mark Cavendish? The special tax laws?

None of the above? If you’ve spent any time with me, you’ll know that I love to talk about it.

The question everyone asks: is it a country?

No, not exactly. It’s a self-governing British Crown Dependency, which is not part of the UK. It is one of the oldest continuous democratic governments in the world. That’s why I’m so diplomatic.

What’s the vision?

After a recent meeting with the Government Department for Economic Development, it was great to learn that the Island has the ambition to become an international hub for tech and e-business innovation.

Not a lot of people know that e-business is the fastest growing sector of the economy on the Island, and it’s estimated to provide 90% of the economic growth in the Island’s emerging business sectors by 2020.  That’s a lot of growth from tech entrepreneurs.  How can we make it happen?

How the Island can stimulate innovation

  • Increase coworking options

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