1. CREATING VALUEIN THE NEWCAPITALISM OR“WE ARE ALLVENTURECAPITALISTSTODAY”LECTURE ON TRENDS INTECHNOLOGYENTREPRENEURSHIP(ROTMAN OCTOBER 29, 2012)www.jimdewilde.net
2. INNOVATIVE IS A BETTER ADJECTIVETHAN 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, SILICONVALLEY 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 INCOGNITOTO 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 DRIVECOMMERCIALIZATION 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 INNOVATIVEECOSYSTEM 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 GLOBALCENTRE FOR HEALTH INNOVATIONSTART-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 ANDMEDICINE 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 INNOVATIONIN 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 BEINGCREATED 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