12th March 2012 Washington DC, USA
Keep calm and innovate!
Today’s fast moving, ever-changing digital landscape has altered many things about how we work, live and do business. But some constants remain – entrepreneurship, innovation and creativity are still king. This year’s South By Southwest Interactive (SXSWi) festival exemplified just that – and showed that Britain is certainly towards the front of the pack!
From presenters, to active participants, to trade show booths and networking events, British tech entrepreneurs could be found all over Austin, TX these past few days. With over 600 British attendees, the UK represented the largest international contingent at SXSWi. In addition, forty UK companies took part in a UK Trade and Investment-sponsored trade mission to SXSWi that will help them expand their companies to the United States by connecting them with American partners, securing potential investors and sharing their creative and innovative ideas with others.
At this year’s festival UK companies brought some brilliant new ideas to the table, including a web platform that assists a user in building an app for free in just minutes, a company that makes online shopping a more social experience, a product that helps track your emissions and another which brings charity to social gaming.
The British entrepreneurs behind these companies and others from throughout the UK brought so much buzz to Austin they were able to pack a ballroom full with people, all seeking to learn more about the innovative tech coming from the UK.
Entrepreneurs are, as my colleague Spencer Mahoney recently put it, “the modern gold rush.” Those willing to throw their ideas out there, tackle the next challenge with a new, innovative and often risky approach, are unique and in high-demand. With a massive showing at SXSWi, the continual growth of the tech cluster at Tech City UK, and the expansion of LeWeb 2012 to London for a June event ahead of the London 2012 Olympics, the UK is poised to be a big part of the “entrepreneurs’ gold rush!”
There can be no doubt that innovation is the way ahead.
This link should add to the debate. It’s a summary of Geoffrey Moore’s new book “Escape Velocity” on how very large companies can unlock their investment in R&D.
The biggest companies have an awful track record in creating new categories despite their huge R&D spends but there is a plan they can follow.
Steve Jobs managed to do it three times and his example is lauded in this thought provoking video clip.
Watch Moore summarise his book via this link:
http://www.fearlessway.com/?p=3026
It raises interesting questions about the institutional blockers to innovation. Moore identifies short term financial measures and middle management inertia as the obstacles which leaders must overcome to get new initiatives into the mainstream.
Policy may need to adapt to help leaders remove the blockers to bringing rising stars from the R&D funnel and giving them their wings earlier in the cycle than is normal in our corporations.