It's a Jungle Out There

I spoke at a recent Insider Spark event on the subject of 'What Education Can Do For Business'
In my experiences partnerships only work when both sides get something out of the relationship and ideally this happens when the whole is greater than the sum of the parts, creating a virtuous circle of success.

Mary Walshaw, the founder of Connect San Diego, talks about Shared Risk and Reward, and a collective sense of ‘ownership’. Community over individual institution or company. She also talks about creating an innovation ecosystem that is more rainforest than plantation. New ideas form at the intersection between disciplines, where cross fertilization occur, serendipity plays it part and diversity thrives in some chaos.

Now I am not saying orderly process and a commercialisation pipeline do not have a part to play, but innovation is non-linear and trying to select the winners and losers at too early a stage is not necessarily useful or doable. A vibrant innovation ecosystem gives new commercial concepts and ideas a fighting chance. Yes, if they do have the right DNA to thrive then the plantation analogy takes hold and that is where real VC funding comes into play. Once something emerges from the 'forest' that looks promising, then the emphasis needs to shift towards control, replication and development with a 'plantation' mentality to leverage value. These stages of a companies development are very different and the people that revelled in the early-stage anarchy may not be best suited to raising things in straight lines to regimented schedules.

But at the Proof Of Concept and Seedcorn stage you have to accept failure is necessarily omnipresent with success. There is a tendency to want to wait until something is proven before wanting to invest in it. We all want to make managed stepwise progress that avoids the risk of failure. The fact of life is that no matter how carefully you plan, you can't avoid making mistakes as part of the journey. Being too focused on the certain winners can be counter productive to the health of the overall ecosystem.

The key question is whether this early stage funding and support is seen as being focused on maintaining the diversity and health of the innovation jungle or is it to grow good ideas in plantations?