How Events Drive Impactful Innovation

Bringing together businesses and researchers at events creates significant value beyond tourism, contributing significantly to the knowledge and creative economy. In episode 9 of our "Backstage Leadership Conversations" podcast series, in collaboration with Abu Dhabi's Department of Culture and Tourism , we learn from James Latham, producer of The Iceberg - an initiative of the Joint Meetings Industry Council - about the pivotal role that face-to-face meetings play in fostering social, economic and regenerative impact and why governments should see events as an essential tool for catalysing innovation.

The MICE (Meetings, Incentives, Conferences and Exhibitions) sector has undergone a significant transformation in recent years, driven by a growing recognition of its potential to create tangible solutions to global challenges. This has been characterised by a renewed emphasis on sustainability, collaboration and innovation. The COVID-19 pandemic prompted this shift, forcing event organisers to reevaluate the purpose and value of events. As a result, the focus has shifted away from purely transactional gatherings towards more purposeful event experiences that contribute to achieving broader societal goals.

Embedding Sustainability in Events

Sustainability has emerged as a key consideration in the MICE sector, guided by the growing recognition of the climate crisis and the need for all industries to contribute to solutions rather than exacerbating this global challenge. With social responsibility increasingly paramount, events must focus on contributing to a broader societal good which benefits local communities. This means focusing on initiatives that promote social justice and protect the environment.

With this in mind, the MICE sector must adopt a holistic approach to evaluating the impact of events, going beyond the traditional metrics of attendance, revenue and economic impact. While these surface-level measures are important, it is equally essential to delve deeper into the underlying purpose and outcomes of events by placing a greater emphasis on measuring and reporting the social, environmental and economic benefits of events. Event organisers must justify the carbon footprint of large-scale conferences and demonstrate the positive impact, or "handprint", they have. The Metro Toronto Convention Centre's clear plan for supporting the Sustainable Development Goals is one notable example of achieving this ambition, supporting the generation of low-carbon renewable electricity, providing food donations for those in need and being a certified 100km partner for sourcing local ingredients as just a few of the actions that showcase their desire to have a positive impact.

By understanding the motivations and goals of attendees, we can uncover the hidden, long-term benefits that often extend far beyond the immediate economic effects. Younger generations, in particular, are increasingly demanding that businesses demonstrate a commitment to sustainable actions and are less likely to support events that do not align with their values and priorities. Therefore, event organisers that prioritise financial gain over social and environmental impact risk alienating their target audience.

A compelling example of the rise in purposefulness within the MICE sector is the World Energy Council's decision to relocate its annual congress to Ukraine following the conclusion of the war with Russia and deferring the planned host by one year. This bold move highlights the sector's potential to leverage its resources and expertise to address pressing challenges. By choosing to hold its congress in Ukraine, the World Energy Council not only demonstrates a clear commitment to transitioning towards sustainable energy solutions but will provide much-needed support to a country facing a humanitarian crisis and act as an opportunity for energy experts and policymakers to come together and discuss strategies for rebuilding Ukraine's energy infrastructure.

Enhancing the Knowledge Economy

Capacity building is an essential component of the MICE sector as it enables organisations and individuals to develop the skills and knowledge needed to succeed in a rapidly changing environment. By investing in training and development, the sector contributes to skills development across the global workforce, raising awareness of emerging trends and helping them to adapt to new challenges.

Having recognised the potential of events to attract investment, knowledge and talent, Abu Dhabi's long-term vision aligns perfectly with its use of events as catalysts for building capacity and driving economic growth. By focusing on sectors that align with its national development goals, Abu Dhabi has been able to leverage events to achieve tangible results, while also enhancing its image as a dynamic and forward-thinking city.

Universities serve as the cornerstone of the knowledge economy, providing the essential foundation for education and learning. By equipping students with the necessary knowledge and skills, universities empower individuals to contribute meaningfully to societal development. Furthermore, universities are at the forefront of research and development, pushing the boundaries of knowledge by generating new ideas which have a profound impact on various industries, for example through technological advancements.

In addition to their academic role, universities also play a critical function in fostering collaboration and partnerships between academia and industry. By facilitating knowledge exchange and joint research projects, universities can help to bridge the gap between theoretical knowledge and practical application. The association sector plays a complementary role in supporting continued professional development by providing a platform for collaboration and advocacy. Offering opportunities for networking and knowledge sharing helps professionals discuss the latest trends and best practices and consider how their role might transform by adopting cutting-edge technologies or tapping into emerging opportunities for business growth.

Events as Catalysts of Innovation

Events provide a unique platform for testing new ideas and driving innovation. By bringing together experts from diverse fields, events can spark creative collaborations and foster the development of innovative solutions to pressing challenges. For example, a fortuitous meeting at a conference in Canberra led to a groundbreaking collaboration between two researchers studying the HPV virus. Their combined efforts resulted in the development of the HPV vaccine, a life-saving medical advancement that has significantly reduced the incidence of cervical cancer worldwide. Moreover, it has had a positive impact on economies by reducing healthcare costs, improving productivity and preventing the devastating consequences of cervical cancer on families and communities. This remarkable achievement highlights the power of collaboration and the transformative impact that events can have on society by bringing professionals together to discuss their ongoing work.

By focusing on the positive impact of events through their role as a platform for knowledge exchange, the MICE sector can build a strong argument to ensure its long-term future. By demonstrating that events contribute to innovation, economic growth and social progress, event organisers can gain the support and trust of future generations.

Key Takeaways

The MICE sector has undergone a significant transformation in recent years, driven by a growing recognition of its potential to create tangible societal impact and to be a force for positive change. As the world becomes increasingly interconnected and complex, events have the power to bring people together, foster collaboration and drive innovation. By adopting a more purposeful and sustainable approach, the MICE sector plays a vital role in addressing global challenges, promoting economic growth and creating a more equitable and sustainable future

Here are the key takeaways:

• The pandemic highlighted the unique role that in-person events play in fostering collaboration, building relationships and driving innovation. As a result, there has been a renewed appreciation for the value of the MICE sector and a recognition of the need to focus on creating more meaningful and impactful outcomes that benefit local communities.
• With increasing concerns about climate change and environmental degradation, event organisers are under pressure to minimise their carbon footprint and adopt more sustainable practices. This requires event organisers to showcase the true value of events by going beyond traditional metrics and evaluating their broader social, economic and environmental impacts.
• Universities play a vital role in driving innovation and enhancing the knowledge economy by providing the essential foundation for education and research. Their role as capacity builders is supported by associations to facilitate ongoing knowledge exchanges and lifelong learning opportunities.
• Investing in training and development ensures a skilled workforce capable of adapting to new challenges and capturing new opportunities. Capacity building can foster creativity and innovation, leading to the development of new products, services and business models.
• By bringing together experts from diverse fields, events can spark creative collaborations and foster the development of innovative solutions to pressing challenges.