This document discusses trends in technology entrepreneurship and innovation. It argues that innovative companies, cultures, ecosystems, universities, individuals and societies are more important than innovation alone. True innovation requires creativity, entrepreneurship and commercialization. Historically, centers of innovation like Amsterdam and Silicon Valley benefited from diversity, openness, and access to global talent. For a region to be innovative, it needs strong corporate investment, scientific literacy, skilled labor markets, and new models for creating value from data. The document suggests Toronto could become a global center for health innovation startups due to its ecosystem of medical innovators and venture capital.
Creating value from amazon rainforests and malaysian investment in ethiopia[1]
Rotman 29.10.12
1. CREATING VALUE
IN THE NEW
CAPITALISM OR
“WE ARE ALL
VENTURE
CAPITALISTS
TODAY”
LECTURE ON TRENDS IN
TECHNOLOGY
ENTREPRENEURSHIP
(ROTMAN OCTOBER 29, 2012)
www.jimdewilde.net
2. INNOVATIVE IS A BETTER ADJECTIVE
THAN INNOVATION IS A NOUN
Innovative companies
Innovative economic cultures
Innovative ecosystems
Innovative universities
Innovative individuals
Innovative societies
3. INNOVATION IS NOT……..
….the same thing as creativity (although there is a Venn diagram
overlap
….the same thing as entrepreneurship (although there is a Venn
diagram overlap
….the same thing as commercialization (although there is a Venn
diagram overlap)
….the same thing as competitiveness (although there is a Venn
diagram overlap
4. AGRA, AMSTERDAM, SILICON
VALLEY
If a visitor from the planet Neptune came to earth and wanted to
be taken to the technological frontier, where would he/she/it go?
In 1300 - Incan Peru?
In 1400 - China
In 1500 - the Moghul Empire
In 1600 - Amsterdam
In 1900 - London/Manchester
In 1990 - Silicon Valley
In 2020 - ????????
5. PETER THE GREAT GOES INCOGNITO
TO AMSTERDAM
The development of science in a world of converging cultures
(Spanish exiles come to Amsterdam)
Moghul Empire is a multilingual diverse centre of learning
Silicon Valley is defined by its Asian, east European presence
(from Brin to Khosla, from Google to TIE, it is access to a global
talent pool)
A place to come to innovate (open society + diversity) is the
historical lesson
Freedom to experiment, freedom to inquire, freedom to make
mistakes and a political economy which sustains this spirit
6. COMPANIES DRIVE
COMMERCIALIZATION
Bausch is to ophthalmology what Eli Lilly is to agricultural
chemistry
Monsanto is to agricultural biotechnology what Nikon and Canon
are to lens innovation
Google, Intel, Apple and Cisco purchase is a significant
percentage of venture capital exits in Silicon Valley
Siemens has 200+ venture capital investments
NEED FOR A STRONG CORPORATE BASE
7. DESIGNING AN INNOVATIVE
ECOSYSTEM
The most scientifically literate society will be the most competitive
in economic terms.
No economy can innovate without corporations which are the
transmission belt for ideas to commercial product
(SIEMENS, MONSANTO, CISCO, ERICSSON, GLAXO, NOVAR
TIS).
Innovation only takes place within a climate of economic security
where people are stakeholders in change so social democratic
societies are more competitive over the longterm than boom-and-
bust economies.
If we have no manufacturing sector, we lose the skills for design
and production which are a critical ingredient of innovation.
8. WHAT TO DO
CAPITAL FORMATION: Networks and capital formation in an era of global
mobility
SCIENTIFIC LITERACY: Scientific literacy: the secret to competitiveness.
LABOUR MARKET STRATEGIES: Social media and labour market
strategies: incubating talent and designing learning networks
NEW VALUE CREATION: Big data and value creation in an era after DeCode
PRODUCTIVITY IN AN AGE IF DISTRACTEDNESS: Technological literacy,
distractedness and longterm productivity.
9. COULD TORONTO BE THE GLOBAL
CENTRE FOR HEALTH INNOVATION
START-UPS -
Ecosystem of medical innovators
History of medical venture capital MDS Ventures becomes
Lumira
Global leadership SANDRA ROTMAN CENTRE
Needing venture capital specialized funds
10. THE SHAPE OF A NEW INDUSTRY
“I am studying healthcare innovation”.
“Mobile health care is an industry”.
A HEALTH EXPERT AT YOUR FINGERTIPS
(Dina Behrman
TELEGRAPH)http://www.telegraph.co.uk/healt
h/9621612/A-health-expert-at-your-fingertips-
the-latest-medical-apps.html
11. OTHER INNOVATORS IN DESIGN AND
MEDICINE
NORTHWESTERN
http://cight.northwestern.edu/global-health-
initiatives/current%20projects1/diagnostic_tools_for_the_developing_world.ht
ml
NEW MEDIA MEDICINE MIT MEDIALAB http://newmed.media.mit.edu/blog
MEDIALAB ePatients http://e-patients.net/archives/2012/01/mit-media-labs-
health-wellness-2012-ten-day-innovation-fest-six-us-centered-projects.html
IMPERIAL COLLEGE (London) Virtual Worlds
http://www1.imperial.ac.uk/surgeryandcancer/divisionofsurgery/research_the
mes/virtualworlds/
12. VENTURE CAPITAL PORTFOLIO STRATEGIES FOR INNOVATION
IN HEALTHCARE - THE ECONOMIC ENVIRONMENT
Frazier Healthcare http://www.frazierhealthcare.com/
Biodesign at STANFORD
http://biodesign.stanford.edu/bdn/supporters/venturepartners.jsp
Partners Innovation Fund
http://rvl.partners.org/investors_and_entrepreneurs/partners_inno
vation_fund
Versant Ventures http://www.versantventures.com/
13. NEW INDUSTRIES BEING
CREATED
Not just new companies, but new industries.
HEALTH INNOVATION is a case study, but just one of many.
BIOREMEDIATION for waste management
NUTRITIONAL analysis for health care
Ontario as a centre of health/nutrition/agriculture/environment
research commercialization