funding and investment - richard cahoon
TRANSCRIPT
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Session 2A: Funding & Investment
People: the Essential Investment
Dr. Richard S. Cahoon
Science & Technology for Society Forum
Colombo, Sri Lanka
09 September 2016
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Creating and Capitalizing on Innovation: The Essential Investment
• Realizing economic development through innovation is essential to proactively participate the global “knowledge economy”
• Economic development through innovation is a high priority for societies
• Innovation requires a supportive “ecosystem” that facilitates the conversion of ideas into products, services, companies, jobs, revenues
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The Innovation Ecosystem: key elements
• Robust and sustainable R&D programs
• Technology creators, inventors
• New technology, inventions
• Effective IP and related legal system
• Technology implementers
• Efficient links between technology creators and implementers
• Technology commercialization supporters and accelerators
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The Innovation Ecosystem: key elements
• Patient and “friendly” investors
• Entrepreneurs and intrapreneurs
• Creative business models
• Prototypers, programmers, builders, makers
• Market development specialists
• Technology development partners
• Supportive lawyers, bankers, other professional service providers
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Creating and Capitalizing on Innovation: The Essential Investment
Innovation requires
creative and knowledgeable…….
People!
People with
unique talents, skills, attitudes
People make the innovation ecosystem work
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The Innovation Ecosystem: orchestrating the key elements
• The elements are necessary
……… but not sufficient
• An innovation ecosystem without the right type of people……
will simply not function well, if at all
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The Innovation Ecosystem: the most important element
• The critical component is human knowledge ……… energy, attitude, and creativity • The critical component for realizing value from
technology/business innovation: Creatively orchestrating the connection and engagement of the appropriate innovation elements, with right timing, for each technology • Commercializing each technology/invention is unique.
Common themes….. but always unique
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The Innovation Ecosystem: the critical ingredient
People with these skills and attributes:
• Technophiles and “tech savvy”
• Understand IP and its use
• Understand business and how it works
• Knowledge of markets and how they function
• Exposure to the product and market development process
• Understand the process of new technology commercialization
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The Innovation Ecosystem: the critical ingredient
People with these skills and attributes:
• Energetic, optimistic, proactive
• Curious
• Like people
• Team players and collaborative
• Honest and ethical
• Good negotiators
• High-minded
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The Innovation Ecosystem: the critical ingredient
People with these skills and attributes:
• Problem solvers
• “Translators”
• Mediators
• Visionaries
The Technology Transfer Professional
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Building a sustainable Innovation Ecosystem:
A Community of Technology Transfer Professionals • Dedicated to the profession of technology
transfer • Self-development of the profession • Development of standards and ethics • Easily moving between non-profit and for-profit
institutions • Instilling values of philanthropy, public good,
institutional well-being, national pride
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Building a sustainable Innovation Ecosystem:
This Community of Technology Transfer Professionals:
• Will provide a sustainable, human resource that drives the innovation system in
Sri Lanka
• AUTM
Association of University Technology Managers (US and international) is a useful model
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Creating a Community of Technology Transfer Professionals for Sri Lanka
• Build on existing technology transfer programs
(universities, government research, NGO research, for-profit)
• Identify individuals within select institutions with talent and necessary attributes
• Invest in these individuals
• Intensive training, mentoring, coaching
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Creating a Community of Technology Transfer Professionals for Sri Lanka
• Establish a communication system for the
network of tech transfer professionals (social media, web-based, etc.)
• Foster self-development mindset, comraderie, esprit de corps
• Develop job qualifications, assist job seekers and talent hunters
• Support improved compensation for the profession
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Creating and Capitalizing on Innovation: The Essential Investment
Sri Lankan People!
with unique talents, skills, attitudes
will make the innovation ecosystem work
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Thank you