the technology impact on economic development · 2018-11-08 · economic development 21.0 therefore...

The destination for innovation

The Technology Impact on

Economic Development

How technology trends, innovation and

globalization will affect traditional economic

development agency business models


The BIG technology trends

• Ubiquitous mobile connectivity

• Internet of things

• Virtualization, business in the cloud

• Big data, analytics

• Clustering of technology skills, talent

• Collaborative creation and consumption

Creating a new industrial revolution


Merger of physical and virtual

worlds

• These trends enabling merger of physical

world with virtual world

• In business and social world, this is

already changing the landscape

• Examples

– London 2012, the ‘Digital Olympics’

– USA presidential election, social media

profiling


Mobile and internet penetration

• Mobile subscriptions worldwide 6.8 billion

• Internet used by 2.7 billion people

• Mobile broadband subscriptions over 2 bn

• 1.5billion smartphone subscribers

• Tablet shipments now more than PC shipments (50 million in Q4 2012)

Demonstrates that the world is increasingly using mobile and mobile internet


Everyone is talking IoT

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=7hgRN_Fk-LT3_M&tbnid=kDIY4Fcf_Tkj9M:&ved=0CAUQjRw&url=http://florian-michahelles.blogspot.com/2009_05_01_archive.html&ei=nHQ8UrCbHIGQ0AWltYG4BA&psig=AFQjCNHWX8HbaFn-l2KIlFySVyUKU71jtg&ust=1379779977927991


Impact of IoT – everything will

be connected

Source: CMSwire

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=LRlGDTa-HbVBHM&tbnid=qidPM3PU-mhtqM:&ved=0CAUQjRw&url=http://hutgrip.com/blog/&ei=fXU8UvHTDaW60wWf_oDQBA&psig=AFQjCNHWX8HbaFn-l2KIlFySVyUKU71jtg&ust=1379779977927991


Socio-economic benefits of IoT

Source: GSMA


“In the future, everything will be

connected to everything else”

• IoT enabled by machine-to-machine connections (M2M) – Allows devices to ‘talk to each other’

• Could be 50 billion M2M connections by 2020

• By 2022, Europe and Asia Pacific will be biggest regions for M2M connections

“The growth in connected devices over the next few years will fundamentally change the way we live and work”

Machina Research


Virtualization, online

collaboration tools

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=IgmcjLP_C30HBM&tbnid=ZgXdimPcmB1BTM:&ved=0CAUQjRw&url=http://images.businessweek.com/ss/09/06/0615_50_startups_need_to_know/15.htm&ei=Unk8UoWOCrKm0wW5vYAI&bvm=bv.52434380,d.d2k&psig=AFQjCNEOwYKKTHNN_5h7MXUFy3poohEwLw&ust=1379781287617690


Big Data – the new buzz word


Big Data: features and drivers

Source: www.shhrota.com

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=j7Xp9xWEx3S1sM&tbnid=KCLM5u8-SMFCOM:&ved=&url=http://shhrota.com/&ei=43s8Uv26EIqV0QX0r4H4BQ&psig=AFQjCNH5bMJCdi9twSE1Oq5nDMU8iL-uSg&ust=1379781753465247


Example of use of cloud, big

data, mobile: USA 2012 election

• Cloud used to link field offices to state and national offices

• Campaign management applications deployed rapidly by renting cloud space

• Cloud stored searchable campaign intelligence, candidate documents, speeches, videos

• Big data profiles of voters created so that they could be effectively motivated to vote

• Mobile apps used by candidates as well as news channels

• Social media used to influence votes and drive donations


Businesses are now looking to

internationalize

• Current economic downturn has forced

business to look to international markets

• Effective cross-border communication and

collaboration becoming critical to financial

success

• Cross border communications and

collaboration improves profitability,

revenue and market share


Startups and clusters will be

less regional

• Because of global mobile connectivity, high growth startups will be less dependent on just regional resources and talent

• ‘Distributed’ model will be more commonplace: HQ in one place, development in another, output or production in a third, marketing in several others

• This has already been common in the high-tech sector since the 1990s

• But now that trend will grow across many different sectors


Location will become irrelevant

and ‘global clusters’ may form

• Specific talent skills may be pooled together in different regions, and be connected via ‘virtual’ connections

• No longer relies on geographic co-locations

• For example, digital games development talent found in England and Canada collaborate as a sectoral cluster; technology (virtual working) allows the two talent pools to effectively collaaborate

• The IoT concept can be applied to clusters, and multiple clusters around the world could be connected and appear to operate as if they are coming from a single place

• This is possible because 75% of world population will have access to the internet by 2015

• Location therefore becomes irrelevant


Economic development 21.0

therefore depends on technology

• Many western economies focused on cutting spending

• Want to get more from less – more innovation, less money to spend

• The use of technology helps serve this agenda

• Becomes a win-win scenario for government and business

• Changes the agenda for economic development agencies: how can technology enhance their role for local economic growth and prosperity in a new global world order?


The Next Silicon Valley –

focused on innovation

Website focused

exclusively on

information about

global technology-

based innovation


Why The Next Silicon Valley?

• Innovation becoming the global buzzword

• “Silicon Valley” = regional wealth creation driven by

innovation and technology

• Cities/regions attempting to emulate the Silicon

Valley of California, USA

• We look at these regional clusters

– and their relationships with academia, entrepreneurs

• Plus inter-related funding & business development


Our mission

“To create a vital resource for regional

innovation-based trade and commerce

centers around the world”


Focused content

• Science and technology parks, industry clusters

• Education and research

• Alliances between regional businesses and

technology entrepreneurs

• Local success stories, local/regional startups

• Venture capital, Angel investors

• Public-private partnerships

• Risks/rewards for new and developing regional

centers of innovation


Who reads it?

• Global innovators/entrepreneurs

• Global business looking for location information

• Venture capitalists, Angel investors

• Invest-in agencies

• Technology institutes, science parks

• Universities, R&D centres

• Startup hubs, accelerators


The team

Nitin Dahad

CEO & Publisher

Richard Wallace

Publishing Director & Editor

• Over 28 years in global tech sector

• Entrepreneur, journalist, publisher

• Successfully took microprocessor start-up

ARC to Silicon Valley and IPO

• Industry experience: National

Semiconductor, Marconi Instruments, GEC

Plessey Semiconductor

• Editorships of Silicon Design, Electronic

Design Europe, Communications Engineer

• Over 30 years in publishing in the global

electronics industry

• Formerly Editorial Director of CMP Media

(now UBM) electronics group

• Deep understanding of global technology

and innovation companies and clusters

the technology impact on economic development · 2018-11-08 · economic development 21.0 therefore...

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