The old saying is that “no man is an island’ meaning that we cannot thrive on our own without connection to others. They are as true today as they were then as the world was moving towards exploring their physical boundaries as we are exploring life science for healthy lives. Written by John Donne in 1624 as the Dutch Trading Company created a new colony called New Amsterdam; while our generation is unwrapping the human genome and the limitless potential for new discovery for improved health outcomes.
To reach the full potential and to maximize the return on the rewards the Innovation Economy holds for the economic growth, we must be willing to enter into multiparty collaborations extending well beyond your own community or cluster. Collaborations begin with the simplest of ideas and the willingness to share resources and credit to achieve a higher goal.
Steve Jobs got it right when he told his biographer:
the biggest innovation in the 21st century will come from intersection of biology and technology
The investment in the development of new biology and technologies have always been a challenging activities. Over time the investment structures have been parched out into a variety of layers. University research has a been at the tip of most new technological discovery since World War II. It has been funded through grant giving agencies like the National Institute of Health (NIH) and the National Science Foundation (NFS) and their counterparts like the National Health Science. Other layers that follow are family and friends, seed and venture capital. All of these are a means to an end, sell the technology is in best form with the prospect that the next group can and will continue the technology development and deliver an even larger return.
The organizational structures are as diverse as the size of the project. At the micro level, we need to create working group maybe even a team to focus on specific research. At the macro level with multiple groups or teams we form partnerships, cooperatives or collaboratives. Over time these structures will provide all parties will the required open innovation and diverse thinking that provides for adequate vetting of concepts and discovery development.
These structures also provide the vehicle in which the biopharmaceutical industry can embed their marketing, intellectual property, scientific and investment personnel directly into to innovation process.
- Get Ready for The Innovation Economy – 5 Steps for Success (theinnovationgarage.wordpress.com)
- New York’s Nanotechnology Model: Building the Innovation Economy: Summary of a Symposium (nap.edu)
- Innovation, Catch-up and Leapfrogging: Policy Implications for Emerging Economies (belfercenter.ksg.harvard.edu)
- University of Toledo: A Transformative Force for Building a New Innovation Economy: Deploying Resources to Meet Industry Needs: Lab-to-Launch (universityimpact.wordpress.com)