Veritatis Insight – Midwest ENERGY+WATER INNOVATION
Breaking the mold – Targeted Innovation Channels for ENERGY+WATER Start-Ups
Startup growth is on the rise — but not in Chicago. According to the 2017 Kauffman Index of Growth Entrepreneurship, a study that measures startup growth at the city, state, and national level.
The study focuses on metrics like the average employment growth at startups, how many companies have scaled up, and how many high-growth startups are in each area. This year, entrepreneurship grew in 26 of the 40 metro areas measured.
The usual big players like San Francisco and Boston stayed stable compared to 2016’s ranking, but other mid-sized cities went through some changes in the past year: Indianapolis and Atlanta both jumped 10 spots since last year, and Minneapolis cracked the top 10. (Business Insider Oct 2017)
The Midwest walks a tightrope of societal norms and culture rarely the leader but rarely the follower. Our energy and water resources are legendary as are our skilled workforce, manufacturing base and certain pockets of technology. Expanding these pockets and opening to disruptive technologies will not be easy for the culture of the Midwest.
Radical organizational thinking is needed to make large step changes to our overly diverse, not focused economic landscape in energy and water technology.
Chicago must, present to the country an efficient and effective innovation ladder, not the under-utilized empty office and lab space spread across its region today. Reciprocal agreements between innovation Hubs and accelerators must recognize and drive energy and water efficiency products and digital technology to the forefront. Encourage and create the circumstances primary for innovation funneling from nearby states and university those who want a sustainable known business environment.
The famous substitution McKinsey study points to where we should focus, these most workable energy+water start-ups as poised to disrupt industry and business, to achieve early economic gain, and create community achievement.
These end use products are the highest manufacturing targeted innovation approaches we can make, near term, using our inclusive workforce base of well skilled workers, infrastructure of high tech manufacturing and strong supply chain lines.