Why the Discussion about Commerce in Innovation Mustn’t Be All about Start-Ups

Lately it seems every time I’m around a conversation about making the most of innovation, in no time flat it will transform into a soapbox about start-ups. Start-ups not being properly funded, the need for more start-ups, someone making a motza from a start-up. Granted, that is due in part to the fact that I’m currently developing a course called Conversational Commercialisation. And in part its probably because since I started Your Commercial Foundations (YCF), I’ve been practically chanting “Commerce is more than Commercialisation”, but Conversational Uptake just isn’t as catchy, so I’m irritated by my own shallowness the whole time I’m writing.

But that still leaves a large part that has everything to do with the broader shallowness that seems to fixate so many in the knowledge industries on the seemingly big bucks that commercialisation-through-start-up seems to promise everyone if only our innovation system would function optimally.  Continue reading

Why Outcomes without Uptake Isn’t Enough – Return on Australia’s Investment in Innovation Part III

In the last two posts I’ve been unravelling why, despite Australia’s consistent internationally comparable levels of investment in innovation, we are equally consistently slammed for our low levels of innovator-industry collaborations.  So far, we’ve noted that government invests funding to incentivize and stimulate innovation activities because, like any investor, it believes not only that it will receive a return on that investment, but that this return will be at least as valuable as any other use to which it could put that funding.  We’ve also established that the return governments are seeking on their investment is primarily about the economy-wide benefits that come from innovation spilling over and not simply benefitting the people who initially took the risk developing and implementing it. And that the fact these spillover benefits are generally several times the size of the innovators’ benefit is why many firms under-invest in innovation, which is why governments step in to stimulate investment. Which at first glance would seem to complete the circle nicely without having to even use the word ‘collaborate’. So where is the problem?  Continue reading

Laugh or You’ll Cry – the answer to a Skills Question is Seldom More of the Same

One of the few Australian’s to head a global super company, Andrew Liveris of Dow Chemical Company, was in town yesterday with some hard truths regarding his homeland. While the headline of The Australian – “They’re Laughing at Us” – specifically related to our current political paradigm, Mr Liveris was not exactly enthused at our current innovation policy and specifically, the trend away from investment in R&D.  Continue reading

Why do we Need to Know about Commerce Anyway?

Cartoon 1For over a decade, multiple public and private sector reports have consistently identified the need for Australia’s graduates to acquire commercial savvy and innovative thinking in order to compete in a global marketplace for ideas. This is particularly so in the innovative industries which are widely accepted as the key to increasing productivity across economies, both directly and indirectly. However, as the Australian Research Council (ARC) noted in 2000, “Participation is unlikely by simply demanding that financiers take more risks or academics get involved for the good of society. It is important that action is taken to ensure that participation is based on mutual self-interest.” (Australian Research Council, 2000, p. 33)

Fundamentally, there are four reasons for innovators and creators to build and maintain a basic understanding of commerce, all of which can be seen as being entirely self-interested: Continue reading

You Know You’re Really Getting Old When

Your Commercial Foundations booth at the Co-operative Research Centres Association conference 2013

YCF booth at CRCA conference 2013

You realise just how resilient you’re not anymore. It’s been over a week since I got back from Melbourne and the launch of YCF, and since I blogged – I would love to say it’s because I’ve been so busy, but there was a fair bit of too tired too. It was an exciting, challenging, stimulating couple of days that reinforced a few things for me: Continue reading