What is Innovation? What drives Innovation?
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This document discusses innovation and its importance. It notes that innovation has become the key driver of economic growth and competitiveness. Innovation is important because it accounts for 2/3 of GDP growth, creates spillover benefits 2-4 times the private return, and allows places to offset disadvantages from low-wages. The document outlines factors that support innovation including R&D assets, human capital, networks, and government support. It also discusses challenges like changing job markets, education challenges, and the future of learning being more self-directed and skills-based. Specific initiatives discussed include efforts around water innovation, driverless cars, and collective action on social issues.
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What is Innovation? What drives Innovation?
- 1. Center for Accelerating Innovation V. 1.3 What is Innovation? What drives innovation? Egils Milbergs Center for Accelerating Innovation February 24, 2016 Puget Sound Green Infrastructure Summit Seattle, Washington
- 2. 1960s & 1970s Advantage is Cost Strategy is “Make it Cheaper” 1980s & 1990s Advantage is Quality Strategy is “Make it Better” 2000s Advantage is Innovation Strategy is “Make something new” Ecosystem Model- Constant adaption to the highest economic value Innovation partnership Zones (IPZs) – National Award Winning Industry Clusters - Popularized by Michael Porter -1990 Changing Paths to Prosperity
- 3. 3 • Central focus of advanced and emerging economies. • 2/3 GDP growth from innovation • Spillovers 2 to 4 times private return • Technology industries pay 70% more • Determines competitiveness rankings. • Offsets low-wage nation advantages • Addresses needs in energy, health, water, transportation, education, etc. Center for Accelerating Innovation Why Innovation is Important
- 5. Buying Local. Buying Global
- 8. A Better and Faster Innovation Model Innovation Ecosystem R&D Assets Universities National Labs Corporate Labs Inventors Transformers Entrepreneurs Incubators Technology Partnerships Funders SBIR Angel/Seed funds Venture Capital Human Capital Talent Pool Education Workforce Development Networks Clusters Associations Social Networks Governments Federal State Local International
- 9. Aerospace Information Technology Biomedical, Incubators Clean Tech, Smart Grid, Biofuels Defense Biotech, Energy Wine, Water Life Sciences, Global Health World’s Largest Innovation Park Food Processing Wind, Solar, Data Centers Marine Food Tourism Marine Energy Agriculture, Composites New Forestry “Twilight” Medical Devices Water Technology Electric Cars Clean IT Drones
- 10. Changing Nature of Work • Disturbing trends • Middle class jobs disappearing • Income inequality • Task outsourcing • Rising cost of education • Growth of 1099 workforce • Tough questions • Can job losers do newly created jobs? • How do you educate people for jobs that don’t exist? • Is career planning an oxymoron? • Is the sequence educate, work, retire model dead? • Is the classroom an obsolete way to learn?
- 11. How susceptible are jobs to automation? 47% of occupations are at risk Oxford Martin Program on the Impacts of Future Technology
- 12. Change in Household Incomes (Seattle-Tacoma-Bellevue 12Egls Milbergs
- 13. The Ill-Prepared Education Pipeline Of 100 students entering 9th grade only 36% go directly into college WA ranks 46th in college continuation rate WA ranks 47th in Bachelor's degree production Bad Implications: Continued skill gaps Lost productivity Need to import talent More poverty High social overhead
- 14. The Future of Learning •K-99 •Relevant/predictive •Self-directed/flexible •Location independent •Social & participatory •Gamification & fun •Micro-credentials •Industry supported The Wearable University?
- 18. Driverless Cars Are Closer Than They Appear
- 19. Transformative Path Outcomes Zero Congestion Zero Deaths Zero Emissions Center for Accelerating Innovation 19 Innovation Shared AutonomousElectric
- 21. Imagine the Really Big One Not If, but When
- 22. Clean Water Innovation Initiative • Goal: A dynamic innovation ecosystem for water • Founders: 17 founding business, government, academic partners. • Objectives: reduce technical and market risk for water innovations • Components: • Water Nexus (Accelerator) • Water Alliance • Water Innovation Fund • Financing: Awarded 3 year EDA grant of $500K (matched $500K) 22
- 24. Collective Sensing Collective Learning Collective Doing Collective Feedback
- 26. Think Big Start Small Act Now!