How Do You Create a Sustainable Innovation Ecosystem?
Until the 1970/80s the hashtag#research was done in the corporate labs (AT&T, Bell Labs, Dupont, IBM, hashtag#Philips (In the 80s, 6000 PhDs and Scientists in research), Siemens,..), government labs e.g. DARPA in the hashtag#USA and they created innovations like, hashtag#Semiconductors, Radar, hashtag#Nuclear Power, New materials, hashtag#Internet, hashtag#Software, LED, Telco & hashtag#Mobile revolution resulting in companies like Intel, Apple, Microsoft, Amazon, Alphabet, NVidia, ASML, Tencent, Alibaba, that are still driving the economic growth.
After 1970/80s with the downsizing of corporate and governmental funding, the research has been concentrated with the universities with exceptions in Software and AI. New innovations created after 2007/2008 e.g. Sharing platforms, VR, AR, Blockchain, Crypto, NFT, Security and Web3 are struggling to become profitable or achieve decent valuations with exception hashtag#AI, Big Data and Fintech companies. Companies like DiDI, Uber, Snowflake, Crowdstrike are not yet profitable while the market created is very small versus the previous innovation wave.
Why ?
1. The number of creative new ideas based on patents has declined a lot.
2. hashtag#University PhDs and Professors learn to do literature searches and write papers and Landhuis (2016) estimates the annual growth rate of published scientific papers to around 8–9% over the past several decades while product commercialization is largely forgotten.... Universities are proud of their PhD students who become professors but corporate research is seen as second class. At the same time the universities are struggling how to commercialise their research output.
So what to do for successful Innovation?
To create an hashtag#innovation hashtag#ecosystem that will contribute to a hashtag#sustainable hashtag#economic and hashtag#social growth the following ingredients are necessary:
1. A structured collaboration minded ecosystem with the following core participants:
- Corporates & corporate venture funds
- Universities & research institutions
- Venture Capital
- Start-up ecosystem and attraction of reservoir of talents
2. Public-Private partnerships between universities and companies
3. Attractive location and fun environment
4. Creativity and entrepreneurial culture
5. Affordable housing for entrepreneurs
6. Plenty of networking/learning events
7. Supportive government including investing to create the foundational momentum
8. Better selection criteria for the participants of the ecosystem
9. Bureaucracy reduction
10. New incentives for Academics
The experts can conclude what is in place in your location and what needs to be improved/added.
TenX2 focuses on sustainable growth of the innovation ecosystem and please see attached presentation for more info.
TenX2 Business Acceleration - March 2024.pdf
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