There is a saying in California that I used to hear often. “If something is hot, pour gasoline on it”. It’s a good motto for nurturing an innovation ecosystem.
Data from the Kauffman Foundation shows that most jobs are created when companies move past the incubation stage and into the sales growth or “gazelle” stage. This is when sales managers/business development teams are hired to sell the commercially viable products/services that were perfected during the incubation stage.
The question that many policy makers, including my Republican leadership, grapple with is how to effectively “pour the gasoline”. My advice would be to help communities embrace competition.
Whether it’s by holding pitch competitions, business plan contests, hackathons, startup weekends, crowdfunding challenges, or even a sector-specific sales growth race – communities that embrace competition and exercise their competitiveness will ultimately nurture an innovation ecosystem.
Thanks for reading my thirty-sixth blog post.
The Republican Millennial