Where is it all Going?
A look into technology and the road ahead…
Where is it all going? In a recent Ted talk, Per Espen Stoknes talks about why people don’t seem to be too engaged about climate change. Be it that it tends to sound like an apocalyptic topic to some, we have seen many innovations in recent years but are still struggling with major global issues. Around the world you can see news on wars, epidemics, global warming, pollution etc. Some may say that with each step forward we take, we seem to take two steps backwards. Others would argue that we have come a long way and that the future is very promising with discoveries being made more frequently that can really make a change. Part of turning such discoveries and inventions into real-world solutions is the science of commercializing new technologies. As a topic that has been extensively covered in the extant literature, we see that it has even more value in today’s day and age. The rise of new technologies such as AI, Big Data and Blockchain are just some of the ‘new kids’ out there. The investment allocations made this year alone in these types of startups would suggest that such technologies, and others like them, will open up a world of opportunities for many. In the case of Blockchain for example, many believe that we have yet to see its true potential and that future applications will be mind-blowing. Nevertheless, bringing such inventions to the market is never an easy task. Many startups struggle to find proper funding for their projects. In fact, finding the right kind of funding, i.e. ‘smart money’, is of even more importance (and difficulty). When it comes to sustainability-related projects the situation tends to become somewhat more challenging even. Impact investing is not an area where you will find all the VC’s and business angels lined up per se. Though there are many investment firms actively looking for clean-tech projects etc., the journey would seem to be different when compared to your regular SaaS etc. startup. Most VC’s today are mainly focused on investing in those startups that can provide 10X returns over a period of time. This may not always be possible with all sustainability-related startups, whose main added value is the improvement in areas such as the environment as opposed to a large financial return.
Yet, talking about startups alone will not give one a complete picture of what is going on. The corporate and government sectors also have a stake in the game. Which policies are approved? Which carbon taxes are levied? How big are the innovation funds? Which M&A strategies are implemented? These are some of the questions, whose answers help pave the reality we are in. Some governments choose to be more progressive, while others opt to stick to what has always worked for the fear of change. Some corporations on the other hand try to avoid disrupting themselves while others move boldly ahead by actively investing in new projects and even acquiring/partnering with startups that are making a true change. Following the Triple Helix concept, we can also think of knowledge institutions such as academic research universities that help to generate new knowledge that can be applied for inventing new technologies and introducing novel solutions to the market.
Overall, the general public, governments, corporations, startups, universities — are all part of national, regional and global (innovation) systems that interact with each other to produce results that we see today.
Where it is all going largely depends on where we want things to go, collectively.
As an individual it is extremely hard to achieve radical change. As a collective however, it becomes much more fathomable to change things. In the quest of helping to solving global issues, technology has always played a big role. As we move on to the years ahead, we see that things like robotics and AI may end up doing more harm than good. Most projections seem to indicate that there will be less working hours (and jobs) available for everyone in the coming decades. How exactly this will be impacting economies worldwide is still not entirely known. What we do know is that we are heading towards a new world. Hopefully it will not be an apocalyptic post-global warming scenario, but one where the inhabitants of the planet managed to get their act together! Collaboration is always key in bringing much needed solutions to the market, and it is one of the things that we have been seeing more of in recent years.
Innovaris is a novel development organization that aims to assist startups and project owners in building and crossing the bridge towards the future. If you want to keep up with what we are up to, simply follow us on twitter @innovaris_hq. Merci!
