The document discusses the global economic challenges and opportunities arising from the increasing importance of innovation. It notes that innovation will be the key differentiator of economic success for governments, businesses, and regions. For states and nations to prosper, they must develop innovation hubs and clusters through investment in education, infrastructure, and early-stage funding to commercialize new technologies. The document argues Arkansas needs to develop its innovation capabilities in order to compete globally and ensure long-term economic growth.
Ooty Call Gril 80022//12248 Only For Sex And High Profile Best Gril Sex Avail...
Innovation Futures
1. Global Economic Battlefield of the Future
Jeff Amerine, PMP
University of Arkansas
Innovate Arkansas
November 4, 2010
2. Future “Economic Arms Race”: The Global
Innovation Battleground
Arkansas’ Challenge and Opportunity
Societal Impacts
Workforce Education Implications
3. “But they should not lose sight of innovation: managers know that the future of
their businesses depend on it, and government leaders understand that the long-
term growth prospects of cities and nations are tied to it. Even—perhaps
especially—in times of economic turbulence, innovation remains the most
important differentiator separating economic winners from also-rans.”
André Andonian, Christoph Loos, and Luiz Pires
Building an innovation nation, Mckinsey & Company
5. Advanced Car Batteries
Renewable Energy Storage
Advanced Biofuels
Carbon Capture
Solar Power: Thin Film and Space-based Solar
Source: Michael Totty, Five Technologies that Could Change
Everything , October 29, 2009, Wall Street Journal
Who will win the new global
innovation race in green technologies?
6. Source: Building an innovation nation, André Andonian, Christoph
Loos, and Luiz Pires , Mckinsey & Company
7. Prerequisites
◦ Physical Infrastructure
◦ Rule of Law
◦ Government Stability
◦ Focus: World-class
Technology Sector
◦ Innovation Culture
Innovation Hot Spring
•Small, fast growing hub
•Reliant on a few firms
•Narrowly focused
Source: Building an innovation nation, André Andonian, Christoph
Loos, and Luiz Pires , Mckinsey & Company
8. Source: Building an innovation nation, André Andonian, Christoph
Loos, and Luiz Pires , Mckinsey & Company
http://whatmatters.mckinseydigital.com/flash/innovation_clusters/
Fayetteville, Arkansas
Interactive “Innovation Heat Map” View:
9. Three Growth Paths
Government Incentives
Geographic Differentiators
University Hub
Dynamic Ocean
•Sustained Innovation
•Significant Start-up Churn
•Innovation Culture
•Multiple Sectors/Clusters
Source: Building an innovation nation, André Andonian, Christoph
Loos, and Luiz Pires , Mckinsey & Company
Innovation Hot Spring
•Small, Fast Growing Hub
•Reliant on a Few Firms
•Narrowly Focused
10. Mostly not in Arkansas…but progress is happening
13. $$
Time
Seed Early Growth Mature / Expansion
Angels
Venture Capital
Strategic Investors
Debt Investors
Revenues
Expenses
Mezzanine Finance
Bootstrap – Self Financing
Gov Grants
Concept
Basic Research
Applied Research
Validation – M
kt &
Tech
Patent Application/Licensing
Pre-Seed Funding & Skill Gaps =
Commercialization
Friction Points
Grant Proposal Dev
14. Inadequate Patent &
Technology Understanding
1-2 Big Hits per Decade
Significant Employment,
& Royalties
7 Licenses
$120+ Million in UA Research
30 Invention Disclosures
10 Patent Applications
5 AR
Start-ups
Commercialization
Education & Evangelism
Faculty Tenure / Rewards
Technology & Patent
Validation Funding
Market
Validation Funding
Grant Coaching & Mentoring
Business Plan Competitions
Lack of Researcher
Awareness &
Compliance
Inadequate Market
Understanding
Inadequate Grant Skills
Insufficient Access to Venture Funding
15. Filling the Funding/Skill Gap
UA Validation Fund &
NSF Grants
More Quality
Arkansas
Ventures
• Commercialization Education
• Market Validation
• Technology Validation
• Government Grant Coaching/Mentoring
• Patentability Validation
• Business Plan Competitions
16. Innovation-based economies will prosper
Pace of innovation accelerates and product lifecycles shorten even further
Capital and talent migrate toward innovative regions with high quality of life
Institutional unemployment occurs in stagnate regions
Government, business, and individuals compete globally based on their
“innovation quotient (IQ)”*
Regional workforce education must be visionary, agile, and proactive in
curriculum development, recruitment, and retention
* Source: Mochari, I., (2002) The Innovation Factor: What's Your Innovation Quotient?, Inc. Magazine Online.
17. Filling the Talent/Skill Gap
Sustainable
Economic
Clusters
• Recruiting, Retaining Best and Brightest
• Convert Student Visas to H1B Visas
• Innovation Education
• Government Grant Coaching/Mentoring
• Green Technology Education
• Commercialization Education
• Business Plan Competitions
Curriculum & Policy Imperatives
= “Dynamic
Ocean”
18. Innovation will be the key strategic global differentiator
McKinsey’s “Innovation Heat Map” shows challenges and opportunity for
Arkansas
Green, sustainable technologies will drive the next economic boom
Economic growth requires early-stage funding to bridge the “Valleys of
Death” in the innovation to commercialization process
Regional workforce education must be visionary, agile, and proactive in
curriculum development, recruitment, and retention
19. References
Amerine, J., (2010) NSF PFI Grant Slide Materials.
Andonian, A., Loos, C., & Pires, L. (2009) Building an Innovation Nation, Mckinsey & Company
Online. Retrieved from: http://whatmatters.mckinseydigital.com/innovation/building-an-
innovation-nation
Mochari, I., (2002) The Innovation Factor: What's Your Innovation Quotient?, Inc. Magazine
Online.
Totty, M., (2009) Five Technologies that Could Change Everything , Wall Street Journal, October
29, 2009.
