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Combining 2 or more things that already exists creates a new thing. Innovate with new combinations. The more things there are the more possible new combinations of existing things. In an exponential growth of new things.
See TED Talk theory of The Adjacent Possible TAP
Other Innovation Stories We're Following:
Book "Good Economics for Hard Times", Banerjee & Duflo, talks about economic growth, and how mysterious it is at the macro level, relying on TFP total factor productivity term to represent the mystery component which is most of growth above 1.2%. At the micro level, it's related to positive externalities / spillover effects, for example in economic clusters like Silicone Valley where a combination of culture and swirling talent pool keeps ideas percolating.
https://www.canadianinnovators.org/
- CCI Council of Canadian Innovators – united for future prosperity via innovation policy, supporting homegrown scale-ups to drive prosperity
Book: The Beginning of Infinity, David Deutsch
- chapter 15 on why humans evolved to be creative: they had to be to understand and replicate memes, and creativity and innovation are a lucky side benefit
https://www.cbc.ca/news/business/canada-entrepreneurs-shortage-solutions-1.7002171
- Plenty of Dreamers, not enough doers: Canada’s entrepreneur shortage and how it might be fixed.
- they recommend soft-skills training
https://www.ted.com/talks/marily_oppezzo_want_to_be_more_creative_go_for_a_walk
- creativity improves while walking
- pick your topic before your walk, and come up with as many unfiltered ideas as you can
Adapting to change, 3 Q.s to ask yourself:
How might this change improve what you're capable of?
How might this change modify what you value?
How might this change reshape how you define yourself?
https://www.ted.com/talks/michael_sheen_the_magic_of_a_creative_career
- supportive pathways for youth in creative arts -- or any discipline
https://www.ted.com/talks/keyu_jin_what_the_world_can_learn_from_china_s_innovation_playbook
- China model for innovation: local mayors bid / drag businesses and help financing, supply chain organization, to spur hub / silicon valley
- COVE marine R&D center NS
https://www.cbc.ca/news/business/armstrong-blackberry-innovation-1.6834011
- movie about Blackberry and some comments on innovation policy
Innovation Policy Lab https://munkschool.utoronto.ca/ipl
Canadian Institute for Advanced Research (CIFAR).
Breznitz “we as a country are extremely good at invention .. we’re horrible at innovation.”
- innovation is getting the idea to market / in products and services
- can be engineers continuously improving products
- innovation > spillovers to society are higher than gains to innovators
-- risk drags innovators
-- so market failure / sub-optimal investment in R&D
-- society can gain by investing in innovation to get the spillovers / +externalities
1. incentivize businesses
2. culture of non-innovation - inertia, nothing in business plans
3. education system
“An invention, said Breznitz, is a new idea while innovation is about building a market and a system of support to help foster more inventions.”
Canada Innovation Corporation CIC > 2.6B/4yrs - funding for 50k- 5M/project (like DARPA/CARPA)
- absorbs IRAP
Innovation Canada
https://ised-isde.canada.ca/site/innovation-canada/en
https://www.sciencedaily.com/releases/2023/04/230419150241.htm
- (social) power increase creativity by making creators less worried about rejection
- warm-up rounds on creative task can do the same thing in low-power environment
- high growth brands: ambidextrous. Short- and long term goals merged / harmonized. Including passing opportunities that don’t fit long term goals.
https://cleantechnica.com/2022/04/07/the-carmakers-conundrum-an-economists-perspective/
- rate of innovation
Innovation Cycle Period (ICP)
- OTA over the air updates
USA auto ICP: 5 years
Japanese auto ICP 9 months
Tesla ICP w/OTA monthly
Google Sites
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