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Innovation Ecosystems
Steve Thomas Vice President Unified Development Inc.
(Unidev)President Missouri Venture Forum
Innovation Ecosystems
What does an Innovation Ecosystem look like?
What are the underlying structures in place?
Who should be the players?
What is needed for it’s development and sustainability?
Thoughts to Share Tonight
How do we go from cash worries….
…. to having money growing out of our ears?
Innovation Ecosystems
Two Primary Sources: A Framework for Discussing Industry Clusters and Innovation
Ecosystems Ken Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Survey of Regional Entrepreneurial Activity May 2012 Dr. Mac McKinney and Dr. Gary Renz, Webster University George Herbert Walker School of Business
Innovation Ecosystems• Lack of awareness and relationships constrain innovation • Industry clusters need to be intentionally designed• Supports wide-ranging economic and social growth• Four essential group for each industry cluster– Two Social Groups – relate to people and how they interact
• Culture Group• Institution Group
– Two Economic Innovation Groups – relate to investments in funding and assets.
• Resource Group• Facilities Group
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Innovation EcosystemsTwo Social Groups – relate to people and how they interact
Culture Groupencompasses informal and formal community-wide factors like associations, collaboration events, community knowledge, media messages, education (workforce), mentoring support, and other social network factors. The culture group also includes more personal items like friendships, motivations and values, perceived future rewards or losses, past experiences, recognition, and other factors.
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Innovation EcosystemsTwo Social Groups – relate to people and how they interact
Institution Groupincludes items that determine the amount of time and effort that is needed to establish relationships between interested stakeholders once they begin working together. It includes things like undocumented agreements, idea disclosure formalities, employment agreements, company policies and procedures, contracts, investment terms, wealth sharing agreements, property rights (IP), conflicts of interest, who takes credit for accomplishments, and similar things.
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Innovation EcosystemsTwo Economic Innovation Groups – relate to investments in
funding and assets.
Resource Group
supports both ventures and social factor programs. The first is support for discovery or starting a new venture. It includes research funding, Proof of Concept (POC) funding, prototyping, entrepreneur salaries, legal and IP support, post POC funding, funding for expert consultants and service providers, websites, administrative expenses, and the like. The second is funding for entrepreneur development (people) activities and the social innovation factors described above.
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Innovation Ecosystems
Two Economic Innovation Groups – relate to investments in funding and assets.
Facilities Groupis most often capital expenditures. These frequently require large up front investments. They include buildings, lab facilities, research equipment, office space, infrastructure, and similar items. Shared facilities like incubators and accelerator labs can serve this need for early stage ventures.
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Innovation Ecosystems
Innovation
Community CULTURE
Structure
Resources and Capital
Facilities
A Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Structure INSTITUTION
Facilities
SOCIAL
Economic
Survey May 2012 Dr. Mac McKinney and Dr. Gary Renz, Webster University George Herbert Walker School of Business
Innovation Environment and Industry Clusters
Innovation EcosystemsChampions
watch over an ecosystem and serve as an energy source as well as a connector for stakeholders. Champions:o Listen to and understand entrepreneurs’ needso Engage stakeholders and help them define roles within the ecosystemo Inform community leader and ask for support in the form of resources,community messaging, and affirmationo Are motivated most by ecosystem success and not personal gaino Collaborate with one another to uncover innovation opportunities between
clusters and ecosystemso Connect and inform stakeholders using virtual and face-to-face social
networks• Champions often spin-off new ecosystems by recruiting and supporting new
championsA Framework for Discussing Industry Clusters and Innovation EcosystemsKen Harrington, Managing Director Skandalaris Center for Entrepreneurial Studies at Washington University St. Louis
Champions
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