Our Collective Future
Innovation and commercialization, our collective future
Living in a community tent poled by tertiary and government institutions, I decided to take this time on this last day of 2022 to send out a formula for all local, national and international tertiary and government governors to consider or better yet debate as we all look for methods to better deploy our limited public resources to improve the lives of all citizens as we address and potentially overcome wicked problems.
It is suggested to accelerate applied research commercialization tertiary and other research institutions, government funders of applied research and both private and public investors may want to consider implementing the following concepts in tandem to accelerate emerging economy investments and to yield the best grant and investment returns, all while proliferating new sovereign consumer investment opportunities through these potential innovative investment vehicles, and ultimately overcoming wicked problems we are all now facing together using a strategy versus ad hoc as we see today with our current public governance model.
Note: The following descriptions are not meant to be detailed, but instead allow for further inquiry.?
1. Venture Studio
Venture Studios are a natural evolution within the commercialization and venture capital eco-system focused on creating more and better investment deal flow as we continue to evolve beyond incubators 1.0 and accelerators 2.0 reducing distance, time and space from the commercialization process through continuous improvement.?
Venture Studios 3.0, are designed with first time founders in mind, that can benefit from world-class business development further upstream in the commercialization process. The engine of a Venture Studio comes from high value compensated and experienced startup executives with the ability to implement with a sense of urgency and the experience to ensure correct strategies to extract the highest stakeholder value in the shortest amount of time.?
Venture Studios eliminate the first time founder slow learning curve allowing them to learn through observing best practices not through trial and error as identified historically within incubators or accelerators.?
Venture Studios are best suited for founders with natural entrepreneurial and leadership skills, who believe retaining controlling equity of the venture will yield the best results for stakeholders while preparing to continue as serial founders within the ecosystem.
2. Venture Builder?
Venture Builder 4.0 is specifically designed to overcome two challenges in the commercialization ecosystem that a Venture Studio and Venture Capital can not reach.?
The first being venture capital working too far downstream and in most cases venture deal flow only being accessible by accredited investors.?
The other being the sheer numbers of innovation researchers that do not self identify as entrepreneurs and have limited places to turn without being forced into entrepreneurship.?
In a nutshell scientists stay scientists and business teams enter upstream as far as possible to accelerate commercialization. Venture Builders are extremely valuable as they unlock all innovation en masse, including solutions to solving wicked social and environmental challenges that may otherwise be overlooked by Venture Capital as too early. This matters when we consider climate and clean technology, especially now.?
Venture Builder Example; https://theprojectxway.com
NOTE: Running a Venture Builder for Innovators and a Venture Studio for Entrepreneurs in tandem will yield the highest return as it captures both persona’s and one hundred percent of useful innovation and commercialisation with a sense of urgency.?
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3. Special Purpose Acquisition Company / Capital Pool Company (SPAC)
SPAC/CPC is an excellent vehicle to consider when the bench strength of the SPAC/CPC has identified a successful serial entrepreneur coming from a tertiary institution scientific partnership with an identified global market opportunity and defendable intellectual property as we see here with the press release from Aluula below. We refer to this as directed research and an investment thesis that should be proliferated worldwide through Tri-sector leadership.?
An exceptional (world-class) case study is in the Bastion Square/Aluula deal led by Peter Barrang and Peter Gustavson, both with the Midas touch.
Press Release: https://tinyurl.com/2mdj2sb3
This deal is using a CPC to accelerate or better yet leapfrog Aluula out of the tertiary lab, and directly into the public markets without the need for venture capital. Brilliant really.
Side Note: This is that once in a decade local investment their community should be flooding as it is open to all being publicly traded.?I predict the enlightened wealth managers will benefit from connecting the dots.
4. Public and or Private holding company
Approaching "early stage" research with a private equity mindset where innovation is purchased outright, professionally accelerated through a local Venture Builder, and becomes part of a portfolio of companies.?
A holding company allows for investment and talent to move way upstream where it is needed most, especially reagrding climate and clean technology innovation. It also nullifies the need for venture capital and opens up local or sovereign investment opportunities using a public investment vehicle.???
Public Investment (Income Trust) Example: https://premiumbrandsholdings.com?
Search Funds could also be deployed out of the same portfolio holding company to further accelerate stakeholder value and returns. The addition of using Search Funds as a governance strategy to retool social and environmental practices also makes sense and is worth considering going forward.?
Example: Search Fund and Stanford
As you can see, venture capital and publicly funded entrepreneurial support are not the only solutions available for society to accelerate much needed innovation.
Criticism, comments, inquiries all encouraged either in the comments or email me at: [email protected]
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Senior Fellow and Peter Brown Chair in Canadian Competitiveness, Fraser Institute. Chief Economist, ICBA
1 年Some thoughtful and constructive ideas to ring in the new year!