Innovation: then, now, next!

Ilse Treurnicht! !MaRS Discovery DistrictFebruary 13, 2012!

MaRS began with three questions…!

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1.  Is  there  a  be,er  way  to  capture  the  value  of  Toronto’s  rich  science  and  technology  discovery  pipeline?    

2.  How  can  we  help  our  young  companies  succeed  in  a  highly  compe@@ve  world?  

3.  How  do  we  best  foster  entrepreneurship  and  ensure  that  innova@on  flourishes  in  Canada?  

And  a  place………  

Discovery Details in Notes Part of Slide

Silicon Valley!

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Kendall Square!

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Biopolis!

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Phase 1 opened in September 2005!

Phase I!Phase II!

Single Commercialization Storefront for Torontoʼs Academic

Research Assets!

Business Accelerator for Growth Companies!

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Angel

Business

Seed

Growth

PoP

Entrepreneurs

SME’s

Corporations

Social Innovation

Information Technology

Physical Sciences

Life Sciences

MaRS Centre Community

2/10/12 43.659893,-79.388838 - Google Maps

1/1maps.google.ca/maps?q=43.659893,-79.388838&num=1&vpsrc=6&ie=UTF8&t=m&z=15&ei=DjU1T6q…

Address 101 College StUniversity of Toronto, Toronto, ONM5G 1L7

©2012 Google - Map data ©2012 Google -

Torontoʼs Discovery District!

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Capital  

Knowledge  

Policy  

Research  

Knowledge  

•  Place

•  Academe

•  Experimentation

•  Mixed use

•  Partnerships & collaboration

•  Community

•  Policy

•  Capital

Characteristics!

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2009: Things changed!

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“We need new businesses to unleash new innovations”

President Barack Obama

Young high growth firms create the majority of new jobs in modern economies.

What about

innovation? sustainable!

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“Innovation is the key to solving the toughest problems

in our world” NY Mayor, Michael Bloomberg

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Science

Community

Production

Services

Innovation Beyond!Science & Technology!

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“Converging technologies have the promise to achieve tremendous improvements in human capital, innovation, economic performance and the quality of life.” – Dr. John Evans, MaRS Co-Founder and Chair Emeritus !

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“Dr. Evans immediately saw that social innovation would complement MaRS' focus on biomedical R&D” – Tim Brodhead, Senior Fellow SiG National, Former President of the J.W. McConnell Family Foundation!

MaRS and Social Innovation!

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"Social and technical innovations share a number of similar characteristics. First and foremost, all novelty is created not so much in the primary elements, but in their combination. Innovation lies in the relationship between elements – the more unusual the combination of elements, the more radical the innovation.”!- Dr. Frances Westley, J.W. McConnell Chair in Social Innovation, University of Waterloo!

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Innovation in adjacent spaces!

“We act like systems in creating large system problems, but act like individuals in trying to solve them. If we were to find a solution to these broad problems confronting us we need to respond as a system.”!- Eric Trist!

Innovation as a system!

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Businesses  innovate  mainly  for  return  on  investment,  whereas  society  must  innovate  for  social  return.  Europe  needs  both.  

Social  innova@on  explains  75%  of  innova@on  success.  Breaking  the  mould  requires  collabora@ve,  cross  cuQng  responses  reaching  out  to  business,  public  policies,  research,  educa@on  and  training,  public  services,  finance  and  NGOs.  

Public  policy  should  not  only  s@mulate  business  innova@on,  but  also  social  innova@on.  Social  innova@on  brings  together  individuals  and  communi@es,  including  civic  society  (or  third  sector)  to  address  specific  challenges.  

The European Business Panel on Future EU Innovation Policy - 2009!

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“I think what connects the challenge for business, the challenge for government and the challenge for communities now, is both simple and difficult. We know our societies have to radically change. We know we canʼt go back to where we were before. We know itʼs only through experiment that weʼll discover exactly how to run a low carbon city, how to care for a much older population, how to deal with drug addiction - and so on.” !- Geoff Mulgan 2009!!

The need to experiment - now!

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NESTA!

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+  NESTA  

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IDEO!

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Radical  Redesign  

•  Pipeline  of  ideas  •  Talent    •  Informa@on  •  Business  models  •  Capital  •  Procurement    •  Policy    •  Networks  &  partnerships  •  Culture  

Using Innovation Levers!

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MaRS Next!

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•  Pipeline MaRS Innovation, community, international!•  Talent Entrepreneurship education, new talent!•  Information Market Intelligence, shared data!•  Business models Lean development/several sectors!•  Capital Risk capital, impact investment!•  Procurement Health, Energy!•  Policy At the table, looking for outcomes !•  Networks & partnerships Broad, deep, varied !•  Culture Energized!

Convergence Innovation = Living Innovation LAB!

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Ilse Treurnicht, CEO MaRS Discovery District!