Adam Froman's lunchtime keynote at the Emerging Leaders Network Summit, discussing the work he has been doing with Ryerson University to help understand the potential for digital media and to examine what the next evolution of university supported, industry led, centre of excellence would look like
An initiative of the Toronto City Summit Alliance, the Emerging Leaders Network (ELN) is a group of 100+ emerging leaders who have been identified as city-building leaders. On Tuesday April 7th, the ELN held it’s inaugural Summit, an all-day working session where we will examine pressing issues facing the region. The theme was Why Not Here? The Emerging Leaders Network Ideas for Toronto.
2. “We have virtually unlimited resources to
purchase innovative Canadian companies
for about $100 million each, keep them in
Canada, and growth them to be billion
dollar enterprises...”
“...the problem is…
we can’t find any worth investing in.”
Quote from Canadian President of Multibillion dollar Global Technology Company
5. Innovation
Innovation is a process through which
economic or social value is extracted from
knowledge – through the creation, diffusion
and transformation of ideas – to produce
new or significantly improved products,
services or processes
Source: Conference board of Canada
7. Pre-Commercialization Gap
Product Market
Technology Development
Fundamental Applied Commercialization Entry &
And Demonstration
Research Research & Market Market
(Pilot to Full Scale)
Development Volume
Funding Intensity
Pre-
IPO
Pre-
Governments Gap
Commercialization
Gap Banks
Venture Capital
Industry Industry
Angel Investors
Source: Sustainable Development Technology Canada
http://www.sdtc.ca/en/about/innovation_chain.htm
8. Harnessing the “Troika”
• A new platform is needed for government, industry and
academia to address the pre-commercialization gap
• Government investment must have the greatest impact
on the economy and through this growth the public reaps
the benefits
• Industry needs investment in the pre-commercial gap
and High Quality People (HQP)
• Academia wants to see their knowledge meeting the
needs of today’s society, they want to provide high
quality relevant programs to students with linkages to
industry, want to help create the opportunities in a
rapidly changing economy,
10. The Platform: what it must support
• The platform has to engage the 3 players on
their own terms
• The industries supported should be
transformative in nature
• The platform itself should not have any sort of
agenda other than meeting the needs of the
customer
• Meeting the needs of the digital customer
11. Digital Media: A Transformative Industry
“Ontario recognizes that innovation can boost the
productivity of the manufacturing sector and of the
services sector alike and thus ensure economic
prosperity.”
“Ontario’s innovation agenda recognizes that post-
secondary graduates need skills to support
innovation in all sectors, including services.”
“The projected global market for the
digital media sector alone is projected to
reach $1.5 trillion by 2009”
21. Twitter is the Fastest Growing Member
Community Destination in Feb 2009
Rank Site Feb 2008 Feb 2009 % Growth
1 Twitter.com 475,000 7,038,000 1,382%
2 Zimbio 809,000 2,752,000 240%
3 Facebook 20,043,000 65,704,000 228%
4 Multiply 821,000 2,394,000 192%
5 Wikia 1,381,000 3,758,000 172%
Source: Nielsen Netview, 2009, U.S. Home and Work
22. Facebook’s Growth has been Global
14
Increase in Unique Audience (millions)
12
10
8
6
4
2
0
2-17 18-34 35-49 50-64 65+
Male 3.7 10.9 12.4 6.0 1.9
Female 3.6 11.9 11.7 7.6 1.3
Source: Nielsen Online, Global Index, December 2007-2008
26. How Canadians Share Information
Sharing with 1 to 2 friends Sharing with 10 or more friends
Sample: Nationally representative sample size of 11,600
Source: AskingCanadians, Delvinia Insight Engine, Delvinia Analysis
27. What Canadian online shoppers were
planning on doing for 2008 holidays
% of Canadians who Planned % of Canadians who Planned
On Researching their Gifts Online in 2008 On Purchasing their Gifts Online in 2008
No
14% No
39%
Yes
Yes 61%
86%
Source: AskingCanadians, Delvinia analysis
28. What Canadian online shoppers find the
most annoying
Which pop up ads promoting another do you find the most
Full page
of the following 43%
product and service
annoying: that make the site
Cluttered web pages
17%
difficult to navigate
Lack of relevant product information and
15%
customer reviews
Lack of contact information for questions
9%
about products and services
Continuous cross promotions 9%
Multiple applications on the site that
7%
distract from the ability to shop
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Source: AskingCanadians, Delvinia Insight Engine, Delvinia analysis
29. Consumers
expectations
of technology
in their lives
Companies use
Use of technology
of technology to
connect with
their customers
Time
32. Fitting Digital Media on the Innovation
Agenda
It’s not about funding digital media at large
It’s not about a narrow focus of chasing one
segment of digital media (ie. gaming)
It’s not about funding “gee whiz” technologies
It’s not about “gizmos” or “widgets”
It’s not the Internet, mobile/wireless, social
media, etc…
It’s ALL about the Digital Experience
33. Digital Media and the Innovation Platform
It is about commercialization
Commercialization takes place in industry
Therefore the platform is about innovation
through industry driven digital experience
projects
34. Economy
Sectors
Companies
Government Projects
Funding
$$$$
INDUSTRY
The
Services/
Platform
Products
HQP
37. Inappropriate questions posed about
an Innovation Project
How many jobs will it create?
What is the minimum return on
investment?
How much will be funded by
government, how much by industry?
How long will it take?
What it will lead
to…buildings, operations, other projects?
38. Appropriate questions to ask about
an Innovation Platform
How many jobs will it create?
What is the minimum return on
investment?
How much will be funded by
government, how much by industry?
How long will it take?
What it will lead
to…buildings, operations, other projects?
39. For each $10 Million invested into an
Innovation Platform
How many jobs will it create?
• 500 to 1000 High Quality, Sustainable Jobs
What is the minimum return on investment?
• Companies participating in the platform will invest an additional $100 Million into
the economy
How much will be funded by government, how much by
industry?
• Initial $10 Million by government
• the remaining $90 Million by industry at the back end
How long will it take?
• 18 to 24 months (1/2 the time of existing innovation cycles)
What it will lead to…buildings, operations, other
projects?
• Yes…if that is what is needed to drive future growth
45. Adam Froman
President & CEO
The Delvinia Group of
We have to want
Companies
Tel: 416.364.1455 x222
success
Email:
afroman@delvinia.com
Our Website:
delvinia.com
Our Blog:
delvinia.com/diseases
Follow me on Twitter:
@adamfroman