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.

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