The term “innovation” has its roots in “going nova”. An innovation can explode into its markets, changing the way people and organizations deal with their worlds.
Today, “innovation” is widely credited for economic advantage, new wealth, new jobs, and new products, services, business models, and businesses. Innovation creates rapid change in almost every facet of human life.
Colorado cares about innovation. In his 2009 State-of-the-State speech, Governor Ritter said, “Our challenges need more than just Democratic ideas or Republican ideas. We need uniquely Colorado ideas.” He’s talking about innovation.
His keywords follow that focus: “New Energy Economy,” “bold education reforms,” and “economic-development strategy geared toward knowledge-based industries of the future.”
He continues with well worn words: “Fourth in the U.S. for venture capital, fifth for creating new companies, first for women-owned businesses. One of the best-educated workforces in the country. Among the highest concentrations of scientists, engineers, and high-tech workers.”
What is missing? No concept of Colorado becoming a national and international Center of Innovation. If top leaders are willing to settle for more “shovel-ready” jobs, then we haven’t set our sights high enough.
To compete as a primary center of innovation, Colorado’s full potential must be engaged: ideas, visions, skills, facilities, technologies, management, leadership, investment, and determination.
Growing potential begins with optimizing and leveraging the full promise of existing resources: Individuals, professions, companies, industries, and the innovation infrastructure of associations, incubators, universities, and federal labs.
The impact? Read my first paragraph. Problem is, Colorado’s economic engine today is hampered by “Ifs.”
Businesses that outsource will contract locally IF they can find the right resources. Today, thousands of jobs that could be done by Colorado companies are sent out of state.
Service providers and contractors will propose IF they know about RFPs. Alliances will form IF the right partners can be found.
Industry will collaborate with universities and federal labs IF they know about technologies for license, consulting professors, and cooperative R&D opportunities.
Talented individuals and innovative businesses will relocate to Colorado IF they perceive an existing, dynamic Innovation Community. The list could go on.
Colorado also needs a markedly more collaborative Innovation Community. Venture capitalists, among others, have long noted that lack of tight integration slows entrepreneurship, alliances, and technology transfer.
Catalyzing this community requires multiple, new, ongoing, mutually beneficial interactions between potential community members all focused on support of innovation and innovators in Colorado. An Innovation Community is a subset of the larger business community.
Taxes come from property, income, and consumption. Opportunity comes from innovation. The true power of regional opportunity comes from large numbers of productive, mutually beneficial interactions between members a cohesive community of innovation. Breadth and stability of opportunity comes from diversity of innovation.
Government investment is most productive when it creates wide ranges of new business opportunities over time. A stronger Innovation Community increases potentials for collaborations, alliances, shared risks, a stable economy, and ongoing, multi-faceted investment in Colorado.
Governor, we all agree that transportation, education, and health care are crucial. Yes, a New Energy Economy can be innovative. But when we speak of becoming a Center of Innovation, we need to mix everything from new biotech to revolutionary snowboards. From software to hardware, across industries, across professions.
When next you make a speech about the future, reach for Colorado’s best future. Reach for recognition as world class Center of Innovation.
The time has come to recognize the innovation community as a powerful stakeholder and resource for the economics, education, and welfare of Colorado’s citizens.
Gary Lundquist, of Colorado Resources for Innovation, lives in Parker. EDITOR’S NOTE: This is an online-only column and has not been edited.
