Investing for Growth Thoughts and Reflections on Building an Innovation Economy

Transcription

1 Investing for Growth Thoughts and Reflections on Building an Innovation Economy Idaho Economic Development Association Conference Gordon Jones Founding Dean, College of Innovation & Design Boise State University November 18,

2 Gordon Jones Intro

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4 Goals for today

5 Just for fun.

6 I think there is a world market for maybe five computers. - Thomas Watson, Chairman of IBM, 1943

7 This telephone has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us. - Western Union, Internal Memo, 1876

8 Who the hell wants to hear actors talk? - Harry Warner, Warner Brothers, 1927

9 If I had thought about it, I wouldn t have done the experiment. The literature was full of examples that said you can t do this. - Spencer Silver, on the work that led to the unique adhesives used on 3M Post-It notepads

10 Innovation, Innovators, and Large Organizations

11 Innovation is about Discovery Innovation = Invention / Discovery / Improvement Experimentation is essential If you want consistency focus on standardizing If you want innovation focus on freedom On a related note.. Entrepreneurship is often thought of as starting a new business or creating innovation. But in reality entrepreneurship, in our view, is the pursuit of opportunity beyond the resources you currently control H. Stevenson

12 Change in Ecosystems and Organizations Happen Just Not Quickly! Top 50 Universities a Century Ago Only 2 still on the list What guarantees that your organization will stay relevant over the next 5, 10, 25 years? Innovation ecosystems are created gradually not overnight (Silicon Valley, Boston..)

13 Barriers to Change Structural Cultural Environmental

14 Innovators share core traits Innovators habitually possess a strong internal locus of control They also see opportunity where others see disruption Belief that it is your actions lead to outcomes, not external forces that control outcomes Risk tolerance, willingness to see opportunity where others see disruption Culture has a strong influence on risk-taking and tolerance of failure

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16 Innovation Ecosystem Building: Harvard i-lab Example

17 Boston Ecosystem Government Universities Larger Employers Startups Media Associations Investors Foundations Support Organizations Adapted from: Daniel Isenberg, Babson, 2014

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19 Harvard University

20 A Shift in Thinking

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22 Leading academicians argued that every educated person should know how to put their ideas to use

23 Innovations Flow from Many Fields Science, Behavior & Technology Politics, Law & Public Policy Business Models & the Arts

24 Four Pronged Approach

25 Design Thinking & Innovation Professor Srikant Datar Hands on. Human-centered design Problem framing Breaking cognitive fixedness Ideation & rapid prototyping Learning by doing. Cross-disciplinary. Usability testing & feedback Pitching ideas to stakeholders Implementation Managing innovation

26 Faculty Enabled Industry Collaboration (Leveraging human-centered design) Identify Ways to help individual floors reduce hospital readmissions Solutions to reduce hospital-instigated opioid tolerance? Identify Environmentally friendly housekeeping practices. Products or services to stimulate demand for Disney collectable items (pins) Identify Ways to increase compliance around eczema treatment. Identify New market opportunities, especially (CSA) programs.

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29 Learning by Doing Venture Creation

30 Learning by Doing Industry Collaboration and Workforce Readiness

31 Impact at Harvard goes beyond our work Recruiting top faculty & students Perception of Harvard changing Culture change Crossuniversity community of innovators Platform for piloting future innovation

32 Impact for Boston hold promise for growth Functioning node in Boston ecosystem Expanding number of ventures Spurring potential for economic growth New industry collaboration opptys Further linking talent and Univ. To Boston

33 Selected Lessons Learned (8 total)

34 1. Don t believe the experts.

35 2. It takes an ecosystem and universities can be key catalysts

36 3. Collaboration is the currency of innovation

37 4. Permeability is Good

38 5. If you build it they will (not) come (automatically)

39 6. Don t build another silo

40 7. Build a model that accommodates change

41 8. Model the behavior you wish to produce No access for non-harvard students Open only normal business hours Process centric approach to work Cursory community access Password protected website Minimal collaboration incentive outside of Ivy League

42 Footnote on Boise

43 In closing Today: 20/20 vision Tomorrow: Vision and Goals Questions to consider: Audit / scorecard results of your community vs. peers Where can your organization contribute to the greater innovation ecosystem? In the absence of a key player who or what organizations can serve as substitutes? (ie. no university) What are your resources at your disposal? What unfair advantages does your community have? What is the culture of your organization, community? Watch out: Horserace between ego, pride, and greed Ego preventing collaboration Greed stifling incentives to collaborate.

44 Thank You! )