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What Good Is Innovation If They Steal It As Fast As We Innovate And Create It?

March 17, 2012 | Comments: 0 | Views: 141

Well, as the founder of a think tank which happens to operate online we talk and spend a lot of time on innovation, it's probably the most common topic of all, at least for us. Of course, we are for American innovation and entrepreneurship. We believe in funding innovation, but we have come up with some caveats that we need to consider on a philosophical perspective before we throw more good money after bad. Okay so let's talk about this for second shall we?

Indeed, I'm not opposed to high risk, high gain investments in innovation. I'm not necessarily for the funding or unbalancing of free markets with new innovative disruptive technology. But I am for the funding of pure research, and making that available to the free-market. However there is an inherent challenge in all of this. One of the biggest problems we have is as we create all these innovations, and fund perhaps university level research, all of those researchers go to seminars, symposiums, and get-togethers around the globe and share the results of their work.

Yes, sharing innovative insights and research is smart because it propels the forward progression of the species and our technologies to solve all the problems that mankind can possibly ever come up with. That's a good thing. However if we are funding that with public money, and we are sharing all this information of all of our latest research and innovations, then are trading partners, who are competing against us are taking that information, often stealing it out right without pay the royalties for our investment, and then using it to compete against us by producing disruptive technology hurting our own industries.

This is a real Catch-22 because as our industries are hurt with disruptive technology, albeit perhaps more competitive, and lowering the price, it also takes away jobs, and that hurts industry, and also hurts our tax receipts. With less tax revenue coming in, we can't continue to afford to fund the research. In other words, often enough we are funding our own demise when our trading partners are stealing our own innovation as fast as we it's created. Theoretically, we are funding innovation to help American enterprise, but it seems that we are helping our competition beat us due to all of our rules and regulations in getting this innovative technology quickly into the free marketplace here at home.

Now then, I know this is a valid argument that I bring up, and I'm sure if you philosophically study what I'm saying, you will understand that I am right. My question is no longer if this is happening, it is self evident, rather my question is;

What are we going to do about it in the future, and; How can we modify the process of funding innovation without helping our competition destroy our own economy using the innovations we create?

Please think on that.

Lance Winslow has launched a new provocative series of eBooks on Innovation in America. Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank;

Source: EzineArticles
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