innovation: then, now & next
DESCRIPTION
During this presentation, MaRS CEO, Dr. Ilse Treurnicht takes viewers through the evolution of this innovation convergence centre through to where it sees itself moving in the future. It covers both MaRS' roots, and the best practices around the world that are informing its development. For the complete webinar presented by Ilse, visit: http://bit.ly/xliQYzTRANSCRIPT
Innovation: then, now, next!
Ilse Treurnicht! !MaRS Discovery DistrictFebruary 13, 2012!
MaRS began with three questions…!
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1. Is there a be,er way to capture the value of Toronto’s rich science and technology discovery pipeline?
2. How can we help our young companies succeed in a highly compe@@ve world?
3. How do we best foster entrepreneurship and ensure that innova@on flourishes in Canada?
And a place………
Discovery Details in Notes Part of Slide
Silicon Valley!
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Kendall Square!
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Biopolis!
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Phase 1 opened in September 2005!
Phase I!Phase II!
Single Commercialization Storefront for Torontoʼs Academic
Research Assets!
Business Accelerator for Growth Companies!
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Angel
Business
Seed
Growth
PoP
Entrepreneurs
SME’s
Corporations
Social Innovation
Information Technology
Physical Sciences
Life Sciences
MaRS Centre Community
2/10/12 43.659893,-79.388838 - Google Maps
1/1maps.google.ca/maps?q=43.659893,-79.388838&num=1&vpsrc=6&ie=UTF8&t=m&z=15&ei=DjU1T6q…
Address 101 College StUniversity of Toronto, Toronto, ONM5G 1L7
©2012 Google - Map data ©2012 Google -
Torontoʼs Discovery District!
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Capital
Knowledge
Policy
Research
Knowledge
• Place
• Academe
• Experimentation
• Mixed use
• Partnerships & collaboration
• Community
• Policy
• Capital
Characteristics!
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2009: Things changed!
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“We need new businesses to unleash new innovations”
President Barack Obama
Young high growth firms create the majority of new jobs in modern economies.
What about
innovation? sustainable!
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“Innovation is the key to solving the toughest problems
in our world” NY Mayor, Michael Bloomberg
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!
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Science
Community
Production
Services
Innovation Beyond!Science & Technology!
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“Converging technologies have the promise to achieve tremendous improvements in human capital, innovation, economic performance and the quality of life.” – Dr. John Evans, MaRS Co-Founder and Chair Emeritus !
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“Dr. Evans immediately saw that social innovation would complement MaRS' focus on biomedical R&D” – Tim Brodhead, Senior Fellow SiG National, Former President of the J.W. McConnell Family Foundation!
MaRS and Social Innovation!
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"Social and technical innovations share a number of similar characteristics. First and foremost, all novelty is created not so much in the primary elements, but in their combination. Innovation lies in the relationship between elements – the more unusual the combination of elements, the more radical the innovation.”!- Dr. Frances Westley, J.W. McConnell Chair in Social Innovation, University of Waterloo!
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Innovation in adjacent spaces!
“We act like systems in creating large system problems, but act like individuals in trying to solve them. If we were to find a solution to these broad problems confronting us we need to respond as a system.”!- Eric Trist!
Innovation as a system!
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Businesses innovate mainly for return on investment, whereas society must innovate for social return. Europe needs both.
Social innova@on explains 75% of innova@on success. Breaking the mould requires collabora@ve, cross cuQng responses reaching out to business, public policies, research, educa@on and training, public services, finance and NGOs.
Public policy should not only s@mulate business innova@on, but also social innova@on. Social innova@on brings together individuals and communi@es, including civic society (or third sector) to address specific challenges.
The European Business Panel on Future EU Innovation Policy - 2009!
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“I think what connects the challenge for business, the challenge for government and the challenge for communities now, is both simple and difficult. We know our societies have to radically change. We know we canʼt go back to where we were before. We know itʼs only through experiment that weʼll discover exactly how to run a low carbon city, how to care for a much older population, how to deal with drug addiction - and so on.” !- Geoff Mulgan 2009!!
The need to experiment - now!
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NESTA!
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+ NESTA
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IDEO!
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Radical Redesign
• Pipeline of ideas • Talent • Informa@on • Business models • Capital • Procurement • Policy • Networks & partnerships • Culture
Using Innovation Levers!
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MaRS Next!
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• Pipeline MaRS Innovation, community, international!• Talent Entrepreneurship education, new talent!• Information Market Intelligence, shared data!• Business models Lean development/several sectors!• Capital Risk capital, impact investment!• Procurement Health, Energy!• Policy At the table, looking for outcomes !• Networks & partnerships Broad, deep, varied !• Culture Energized!
Convergence Innovation = Living Innovation LAB!
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Ilse Treurnicht, CEO MaRS Discovery District!