Michael Dearing, a venture capitalist, has developed strong views on the similarities of innovators after screening over three thousand founders and funding over sixty companies since 2006. Dearing observed that the most successful founders are prone to certain “cognitive distortions”: biased, even objectively inaccurate, ways they think of themselves and filter information that enable them to make quicker and better decisions, bounce back from setbacks, and attract talent.
Why does Silicon Valley sustain innovation? What distinct behaviors drive that?
On this episode of the Big Bang podcast I interview Adam Green, senior editor in the Thought Leadership department at the Economist Intelligence Unit, sister company to The Economist newspaper, on innovation clusters.
Adam is the lead researcher for the Economist Intelligence Unit research on innovation clusters. The report info graphics and short documentary explore innovation clusters globally, discusses their key success factors, and looks at how they change over their life cycle. We have looked at examples from Bangalore, London, Boulder, Singapore and Estonia, with interviewees from the likes of Imperial College, the London School of Economics and techUK. We’ve been particularly interested to show how innovation clusters themselves evolve, and the challenges that success can bring.
Below are some questions we discussed:
- What is one trait that determines success of an entrepreneurial ecosystem?
- What are the critical components of an innovation ecosystem?
- What is the key component to start with if no other components are present?
- What cultural characteristics are necessary for an innovation ecosystem to function?
- What evidence, individual and/or organizational, will tell us that this culture is developing?
- How can we adjust and improve an innovation ecosystem to increase its effectiveness?
- How do innovation clusters change over time?
It was an insightful conversation, and hope you find it useful.
Watch the live recording:
The Big Bang is a weekly podcast. Tune in every Tuesday for more discussions on what’s possible; be sure to subscribe on SoundCloud.
Intro audio is by Arturo Arriaga, outro audio is Candyland by Guy J.
I admit that I’m of the particular mindset of looking out into the world and find flaws— glitches in the system— and construct logical paths in my mind to fix them.
And, if I can start crafting a solution with a blank slate the better. Who doesn’t like thinking about what’s possible!
But, are all problems worth fixing?…
So far, in this podcast, we’ve discussed the possibilities of ideas that if created would improve the world. On this episode we flip the script, rather than asking if a new idea is a good one, we ask whether it’d be better if some of the ideas we cling to were killed off.
One of the hardest things to do when defining what your business does is explaining it in the simplest of terms; the key challenge is distinguishing between features and benefits. The reason that this is so vitally important is that, in the words of User Onboarding: “People don’t buy products; they buy better versions of themselves.”…