Wyoming is out of the gate early in 2018 with economic growth planning. This is one of the first stories of momentum in 2018. Lead by states that have put several years into dedicated long-term planning and can effectively engage their legislatures for state-level funding. The next race is for 2018 Federal dollars and that race has already begun several years ago with states getting repeated grants for the development of innovation ecosystems and cluster development. Those states are also seeming to fair better in winning the development of federal research labs and the research grants that support them long term.
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I was a speaker at the 2017 Midwest Architecture Community Collaboration this November held at the Double Tree Hotel. A large community of architects, technologists, and strategists convened for both presentations and workshops. My presentation covered top challenges that business and technology leaders will face as the speed of business and technology increases.
Key topic areas included:
See more pictures of the event in the photo gallery
The St. Paul chamber hosted a speaking event featuring former governor Tim Pawlenty focused on the 4th industrial revolution. The talked covered a broad range of topics including automation, big data, globalization, etc. After the talk, he stayed to engage in 1:1 dialogue with attendees.
These trends will create large changes in the workforce over the next ten years. Both in re-tooling existing personnel and in the transformation of education systems that will be required. What isn’t clear during Q&A is if Minnesota currently leadership has a plan or vision for its future. Hopefully, in the future MN will take up the challenge.
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As the speed of business and disruption of innovation increase so does the rate that long-standing companies are being replaced in the S&P500. The rise of the internet is an example of a game-changing disruption that has seen the rise of many new business models like Amazon or Netflix. Traditional companies, not used to change as a core competency of their business, have struggled to adapt and are often left behind before they even understand the shift that has occurred. By the 1950s, many companies would last 50-60 years in the S&P. In that past decade, that number has dropped to around 15-17 years. Currently, the churn rate is around 75% with today’s S&P being fully replaced by 2030.
I attended the Finish Ambassador’s presentation at the Gutherie Theatre that was hosted by several of the Euro-American Minnesota Chamber organizations and the Minnesota Trade department. The event marked a 100-year celebration of Finland’s independence. Ms. Kirsti Kauppi, the Finish Ambassador talked about Finland’s history and their strong capabilities in innovation. There are many similarities between Minnesota and Finland and many reasons to explore collaboration and trade.
See more photos of the event in the gallery