Transcript Response to Fostering Innovation: IEEE

IEEE-USA Innovation Institute
Volunteers and Regions
Rising Above the Gathering Storm
• The U.S Economy vitality and technical
innovations
• The science and technology building
blocks are eroding.
• Other nations are gathering strength.
ESRC Survey on Innovation
• Historically:
– US companies early entrants with first generation
products.
– Asian companies late entrants
– US companies absent In the second generation
products.
Boston Consulting Group & BW
• 72% of executives named innovation in their
top three priorities.
• Half disappointed with the ROI
• Many didn't know how to measure returns
from Innovation.
Current U.S. Innovation Deterrents
• Outsourcing of R&D
– Transfer the background know-how
• Workforce reductions
– Employees become risk averse
– Disrupts teamwork
Current U.S. Innovation Deterrents
• Across the board cost cutting
– Drives incremental changes
– Favors low risk solutions
• Short term focus
– Averse to disruptive technologies
– Focus on sales not marketing
An
Anecdotalexperience
Experience
Anecdotal
• Attempted to create Skunk Works
– Product aligned with company strategy
– Work on own time
– Use of facilities and material
– Profit sharing on new product sales
• No takers
CIBER Survey
• 200 large companies surveyed are moving
white-collar jobs to Asia
• Companies not deterred by security or IP
concerns
John Deng, CEO of Vimicro
• From Manufactured in China to Designed in
China
• Vimicro is the leading supplier of PC camera
chips.
China and Innovation
• China goal is to be an InnovationOriented Society by 2020.
• Plans R&D costs from 1.23% of GDP in
2004 to 2.5% in 2020
India and Innovation
• Think Innovation, Think India the slogan at
R&D expo in New Delhi
• 6,000 PhDs, 200,000 engineers, and
300,000 science graduates annually
• R&D investment growing at a compounded
annual growth rate of more than 40%
The Risks
If we do nothing we are at risk of losing:
– World leadership position
– Jobs at all levels
– Competitiveness
– Our standard of living
The Remedy
Leadership Innovation in:
– Research by Government and Industry
– Corporate (culture enabling Innovation)
– Universities (focus on innovation and
entrepreneurship)
– Environment (capital, resources, regulations)
– Innovators (willing to take personal risks)
The Key Players
• Individual Innovators (limited number)
– Entrepreneurs
– Already motivated to innovate
– Need favorable environment (Capital, Resources,
Regulations)
• Innovator in large companies (large number)
– Intrapreneurs
– Need reasons to innovate
– Need a favorable corporate culture
IEEE-USA Volunteer Resources
– Innovation Institute
– Career Activities
– Members Activity
– Professional Activities
– Technology Policy Activities
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Careers Activities
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Members Activities
Professional Activities
Technology Policy Activities
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Regions & the Innovation Institute
• Regions will play vital roles:
– Forum Sponsorship
– Faculty
– Corporate Contacts
– University Contacts
– Follow-up after the Forums
Ideas?
Comments?
Suggestions?
You have the keys to the future!