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THE BIG PICTURE
The New Economics of Innovation Ecosystems
By Victor W. Hwang, CEO of T2 Venture Creation and Ade Mabogunje, Co-Creator of Rainforest Architects and Advisor of T2 Venture Creation
Stanford Social Innovation Review
Today we can see the early outlines of a new economic model. Based on our work studying the dynamics of innovative communities like Silicon Valley, we have discovered certain themes common across several disciplines. As is usually the case, many of these ideas come from non-economic fields, such as biology, psychology, sociology, design, business, and law. Their discoveries point to an emerging framework. It is one that recognizes the full range of human interaction as a tool to explain how innovation ecosystems flourish. This topic matters a lot. Global economies are grasping for new ways to operate more inclusively, create jobs, raise productivity, and elevate standards of living. Read more here.
Meet The Social Entrepreneurs Completely Disrupting The World Of Philanthropy
The Huffington Post
Breaking through the traditional ways of thinking allows entire ecosystems to develop around problems like environmental cleanup, revolutionizing higher education and even fighting human trafficking. Connected citizens share their concerns about, and interest in, a particular topic (in conversations made easier through social media and the internet). Market demand grows. Enterprising contributors converge to meet an unfilled gap in the market and…a new ecosystem is born. Read more here.
The Myers Briggs States of America
This research offers potentially new insights for economic development, specifically for understanding the geographic clustering of talent and innovation. The study suggests “part of the reason why certain regions of the United States are economically vibrant may have to do with the psychological characteristics of residents.” This helps explain the innovation ecosystem in places like Silicon Valley, San Francisco, New York and Boston. Read more here.
Cities are the Innovative Labs for the Future
Design can foster innovative approaches to our cities’ changing needs and create new innovation ecosystems. Innovative cities globally scale at different levels with policy and design choices. San Francisco’s TechShop points the way toward the future as part of the innovative 5M development — a relationship eco-system that allows art and tech people to meet and work together in co-working spaces. Read more here.
Silicon Valley or Demand Mountain?
Everyone wants to know how to build the next Silicon Valley: an innovation hub that draws talent and capital, and that creates jobs, companies, and whole new industries. Developed-country governments scramble to subsidize technology that could be the Next Big Thing. But most of these well-meaning schemes are missing an essential ingredient: demand. Demand for innovation in specific areas of technology has been the common force behind all high-tech hot spots, as well as the most important inventions. Read more here.
THE LATEST NEWS
Chilecon Valley: Entrepreneurs very welcome
PBS News Hour
While United States immigration policy makes it difficult for immigrant entrepreneurs to get visas to set up shop in the United States, Chile is welcoming them with open arms. Through an initiative called Start-Up Chile, the country is aiming to be the high-tech hub of South America. Read more here.
A tale of two ecosystems
In a way comparing Berlin with London is unfair: the ecosystem in Germany’s capital is much younger than the one in London. Berlin has always had its fair share of conventional technology companies, but the cluster of internet firms is only about five years old. Compared to that tech toddler, London is a teenager: some date the beginning of Tech City back to the first internet boom in the late 1990s. The leading firms in each city are thus in different stages of development. Read more here.
Pressing ahead with an innovation ecosystem
To be successful, innovation requires strong state support and a facilitative ecosystem. The state, or the government, has a key role to play in innovation strategy. First, economic returns to innovation are uncertain, and therefore, cannot be left to the markets alone. Second, inter-generational equity is important for the GCC nations. They must find the right balance between the interests of present and future generations, for besides being uncertain, returns on such investments take a long time to materialize. Third… read more here.
Watch out, Wall Street: report says tech is now NYC’s second-largest sector
New York City’s economy has traditionally been dominated by finance, real estate, and media. But tech may be taking hold as a staple of the private sector, according to a new report. The study gives some clues as to how New York pulled off what many other cities are desperately attempting to do: invent a tech startup scene. “New York City rapidly reinvented itself as a world-class, urban tech / information hub, uniting tech startups with world-class publishing, media, design, and entertainment companies,” the study concludes. Read more here.
The Philippines’ startup scene: maturity is a matter of time
Tech in Asia
The Philippines’ strong economy plus the growing support from tech incubators in the country are good signs for budding domestic startups. Philippines posted over 7 percent growth rates in recent quarters, and that the economic climate and large Filipino market present an opportunity “to create and foster the growth of more world-class tech companies.” Can we now say the Philippines’ startup ecosystem is no longer in its nascency? Read more here.