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InnoCentive CEO’s 2010 Innovation Prediction and Need for Bold Reform

Economist’s The World in 2010 Conference

CSPAN - Innovation in 2010

I recently participated in a panel discussion as part of the Economist’s The World in 2010 event in Washington D.C. Facilitated by Mathew Bishop, Business Editor of The Economist, the panel included: Dean Kamen (Founder, Segway), Kai Huang (Co-Founder, The Guitar Hero), and Rob Carlson (Principal, Biodesic). The panel focused on the state of innovation and predictions for the year. The conversation was both timely and lively. C-SPAN has repeatedly rebroadcast the panel. Worth a watch.

My Innovation Prediction for 2010? That policy makers would finally promote innovation to the forefront of their agendas, in the US and around the world. I noted that overhauls of the entire system are necessary in areas including patent law, immigration and work visa policy, education (particularly in Science, Technology, Engineering, and Medicine), grant making and funding.

We have incredibly important work to do and profound problems to tackle, from curing diseases to climate change, and now is the time for governments to “get it right,” particularly in terms of the structural elements that enable and empower true invention and meaningful progress. Have we created a “land of opportunity” for scientists, inventors, universities, companies, and entrepreneurs? Do we have a culture of collaboration and information sharing? Or have we created an expensive and divisive system of trade secrets, laws, patents, and inefficient investment? The problems exist in academia and other areas as they do in the commercial space. Fresh and bold thinking is crucial and policy makers have an opportunity to offer real leadership.

Epilogue

Now, more than a month since the World in 2010 predictions were made, everyone’s attention is squarely focused on jobs and budget deficits. Clearly governments are faced with difficult choices. I sense that boldness and a willingness to champion a desperately needed innovation agenda will not be rewarded in Washington. Privately I hear that now may be the worst time to push change. Status quo.

In my opinion, courage and focus around innovation is absolutely vital. We need to invest heavily in planting the seeds of recovery and a vibrant future.  Innovation has always driven short and long term growth, INCLUDING jobs growth and GDP expansion. Now is precisely the time to implement a bold and strategic innovation agenda (investment and meaningful policy reform) in the US and around the world. Budget deficits notwithstanding, the “Inconvenient Truth” is that this is the only prudent and sustainable path forward and lawmakers need to step up now more than ever.

What do YOU think?

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  • http://www.thoughts-illustrated.blogspot.com dave davison

    Dwayne: I heartily agree with the need for addressing innovation acros the entire spectrum of US business, government and social enterprises. A study just released by Joint Venture Silicon Valley and The Silicon Valley Economic Development Foundation covering the key indices for 2009, show the Valley as a beacon of innnovation losing its grip- net result except for green and clean tech is a serious measureable decline in innovative solutions, jobs and hope. Your comments to Mike and me during our breakfast several weeks ago about the broken state of the VC “industry” adds further concern about how this unique geographic wellspring of innovation is also losing its necessary early stage funding sources I will send you a pdf copy of the report by email.

  • http://www.hadannahbusiness.com Joe Wallace

    Dwayne: Your assertions are always true in a country that has enjoyed prosperity and prominence as a result of initiative and innovation. What made Detroit the Motor City? Innovation. What caused the slide into what Detroit is now? Decreasing emphasis on invention and innovation. What made Silicon Valley, Boulder, Austin, and Route 128? Innovation, initiative, and available venture funding. The key to all of these resounding successes and others is that triage of innovation, ambition and money. In places where even one of the legs of that stool is missing, decades of decay seem to follow. Middle America has suffered the most because funding is limited. That causes ambitious innovators to “run for the coasts”. Now the coasts are cutting back. That does not bode well for our country. In doing research for another article, I learned that roughly $2 trillion had been lost due to credit contractions. That is triple the stimulus which did very little for what it costs. When venture capital and commercial credit are re-established at their pre-recession levels our country will start to sow the seeds of prosperity again. These seeds will be sown in the locations that have all three legs of the stool of prosperity.

  • http://www.edisoninnovations.com Larry MacDonald

    One of the biggest blockages to innovation, and the least expensive to cure, is the friction that exists within companies and organizations. By friction, I refer to the near impossibility of employees’ intellectual skills being put to use most efficiently. If we can change the proclivity of people from saying and thinking, “no, that can’t be done,” to even “that’s interesting, how can we do that?” we can get back on the innovation curve. Why on earth would an employee, the person who actually has a clue as to what is going on, bother to make any suggestions when they can’t expect a quick, honest, and intelligent review of their suggestion? Why would they question the way things are done when their sincere interest is not rewarded and sought out? Do businesses actively solicit information about what is not working well or what could work better? Does government proactively seek improved methods of accomplishing the goals they are responsible for? How can companies justify taking months to decide trivial matters and expect those submitting suggestions to patiently wait quietly in the corner? Yes, bold reform is needed, but you don’t need to spend billions. Just start at home. Ask questions, listen to the answers, and respond honestly and quickly. If you get a good suggestion, judge it quickly, act on it near instantly and thank the person offering (usually at great risk of humiliation) the suggestion. You want innovation? Honor it. Don’t pretend you know all the answers, ask for help. The great innovators in history innovated in spite of the negative environments that surrounded them. Solutions to most social problems already exist somewhere on the planet. Let’s take our heads out of the sand and be receptive to innovation in all its forms. Innocentive and others like it have developed a valuable mechanism that allows companies to solve problems for a few thousand dollars. Are they taking full advantage of it, or would many in companies prefer to maintain the problem under their control rather than find a solution at a fraction of their budget to solve it? When companies will quickly determine if a solution offered meets their needs you will notice people welcoming the opportunity to be more innovative. Companies like to extend their payable as long as possible, but when it comes to paying for innovation, those who can act quickly and compensate with thanks, as well as money, will find extraordinary rewards. To get innovative you simply have to welcome innovation and make it easy and rewarding. Don’t expect the government to help make any of us more innovative. They can’t. You are either part of the solution or part of the problem. The issue of innovation can be solved at the personal level. Just do it.

  • Philip Studer

    Innovation can stir up progress which is currently locked up due to leadership and managment with their heads in the financial pages rarther than products and potential new products. In days past new products were sought, now the first thought is directed toward what line or factory can be closed.

  • http://www.light2art.de/index_en.html Karl Heinz Knop

    the desperately needed Innovation must be the Innovation in our brains and attitude.
    mankind is on the way to desolate the world by replacing nature with technics by hunting money with absolute avarice. Instaed using the technics to recover this needed nature.

  • Peter G. M. Wuts

    Innovation really begins with the education of our youth. Give them the intellectual tools to solve problems, encouragement to think freely for the common good, and instill a drive for accomplishment and innovation will follow.

  • http://www.brightidea.com Janelle

    Innovation Portals that are tacking some real issues:

    http://www.yourcountryyourcall.com

    http://pedmed.brightidea.com/ideas

    There are ‘profound problems to tackle’ and more and more governments, companies, and organizations are using idea/innovation management software to them gather, prioritize, and implement ideas that seek to solve some very pressing social and economic issues.

  • David

    Innovation in the EU.
    In a remarkably short time, economic globalisation has changed the world’s economic order, bringing with it new challenges and opportunities. This new EU clip shows how you could reinvent Europe through innovation.
    http://www.youtube.com/watch?v=OQlOPZtZtCg

    Cheers

    David

  • http://blog.innocentive.com/2010/04/08/the-next-generation-of-innovation/ Perspectives on Innovation » Blog Archive » The Next Generation of Innovation?

    [...] recently posted a piece about Dwayne Spradlin’s participation in The Economist’s The World in 2010 Event.  One [...]

  • http://www.theacnesolution.Co.CC Sterling Veerkamp

    Great post thx a lot !

  • http://www.aeonity.com/adrian646/blogging-be-fun Latonia Agel

    I reckon there are lots of people like me, who happen across assorted good blogs or sites by chance. Your blog seems to have a solid community and a sound blogosphere presence. Its positive to hold interesting and contrary perspectives on issues.