There is a myth about innovation that goes like this:
Innovation is driven by Entrepreneurs in the private sector with the public sector at best a spectator, at worst a blocker.
This is a myth! Life-changing progress requires long-term (i.e. 20+ years) investments, care and the creation of a new market.
Getting it all wrong with investors
Tell the following if you want to fail your presentation with potential investors.
- There is no market yet
- No one wants your products, because no-one knows it can be done
- It will probably fail
- If it succeeds it is going to be in at least 20+ years
- By the way to make it really impactful it better be free
But long-term research is needed
In the last century, only the state (in particular the USA) have sponsored long-term research and made the most significant impact in our lives.
Long-term (i.e. 30+ years) change requires long-term care.
Without the state, we would not have:
- Internet (the network), which was a military project, then an education one and did not deliver anything for more than 25 years
- The web, created at CERN for researchers to talk to researchers
- Space exploration, now every billionaire has a spaceship building company. Still, to get to that level of knowledge, it took 50+ years and billions of spends, for nothing more than science.
- Most of Apple (and others) products that inside use technology created by state-funded researchers
Book to read
The Entrepreneurial State: Debunking Public vs. Private Sector Myths
