Accelerating Meaningful Innovation
The investment model of Project X improves the commercialization process by eliminating the necessity for venture capital and the requirement for innovators to assume the role of entrepreneurial founder.
“Innovator + Chief Entrepreneur + Data Lab + Commercialization-As-A-Service + Private Equity”
Is it possible to swiftly tackle significant societal challenges by directing investments toward pre-revenue innovation initiatives via a shift to private equity, as opposed to depending on venture capital?
Could engineers, innovators, creatives, and applied researchers, who might not identify as entrepreneurs, experience advantages from a venture builder model that provides commercialization-as-a-service versus being forced to be first time entrepreneurial founders?
Observations that could unlock the door to transformation
1. Not everyone aims to become or identifies as an entrepreneurial founder.
Innovators, frequently consisting of engineers, scientists, artisans, creatives, and academics, may not inherently have the inclination or capability to transition into the role of an entrepreneurial founder. This situation results in a substantial pool of untapped innovation globally, especially within the applied research community. Conventional entrepreneurial business training may not effectively address this challenge given this inherent inclination.
2. Currently, our public investments lack the urgently needed substantial impact on outcomes.
In our present startup ecosystems worldwide, publicly funded grants are widespread and frequently accompanied by additional assistance, such as volunteer mentoring, university technology transfer support, tax credits, and startup incubators. However, thus far, all these types of public investment supports lack the capability to create a sense of urgency.
3. Essential steps are required to address the limitations of public funded venture capital.
If we desire more domestic head offices, significant change in the current state of affairs is improbable without the implementation of a new innovation investment mechanism.
Eureka moment: acknowledge the shortage of domestic serial entrepreneurs.
Entrepreneurs can lead change.
Entrepreneurs have been instrumental in reshaping the world, playing a crucial role in nurturing creativity, adaptability, and competitiveness, thus making substantial contributions to our economic vitality.
Serial entrepreneurs are a rare breed.
However, it’s crucial to recognize the scarcity of serial entrepreneurs due to the distinctive (right hemisphere) mindset and astute pattern recognition skills they possess. We must use serial entrepreneurs judiciously as they play a vital role in leading us towards the emerging economy.
Innovators and business specialists are in abundance.
Positively, the world is overflowing with innovators, frequently consisting of engineers, scientists, artisans, creatives, and academics full of ideas, alongside a plethora of business specialists eager to make valuable contributions.
Our vision: fast-tracking innovation.
Project X’s ambitious vision revolves around uniting the complementary skill sets of innovators and business specialists within a meticulously crafted model to effectively supervise the rapid commercialization of innovation. This strategy, spearheaded by chief entrepreneurs, is specifically designed to benefit both society and investors.
Building community with a sense of urgency.
In the pursuit of our vision, we’ve established a tri-sector governance model encompassing business, government, and the nonprofit sector, with the primary objective of connecting innovators, including those who may not identify or aspire to be entrepreneurs, with comprehensive business support.
This ensures collective success in building thriving, multi-generational enterprises. Not only does this approach enhance the success of profitable ventures, but it also strengthens our communities, all propelled by a profound sense of urgency to address complex problems.
The positive news is that these components are not novel; we suggest a fresh recipe—one that doesn’t supplant the existing ecosystem (as it still caters to a specific niche) but is rather supplementary.
1. To facilitate change and authentically nurture the emerging economy, it is crucial for our elected officials and community leaders to prioritize the implementation of a mandate focused on rapidly accelerating meaningful innovation.
This involves the necessity for leadership and the establishment of new roles to envision the future and devise innovative approaches to fortify economic footprints. We envision a role at the highest level with this specific responsibility, and in conjunction with executive and political leaders, we endorse the inclusion of “Chief Entrepreneurs” across all sectors of public service, academia, and economic development.
2. For effective guidance of change, the utilization of credible due diligence data and value stream mapping is crucial in decision-making.
Innovators and chief entrepreneurs depend on this information to ascertain where to direct their time and energy. Public decision-makers need due diligence data to track relevant themes and trends, and academic institutions rely on it to inform meaningful applied research. Furthermore, funding programs utilize this data to make informed investment decisions.
3. To harness the value of non-entrepreneurial innovators, we need entities referred to as Venture Builders, equipped with the capacity to act as the driving force behind these innovators.
This accelerates their journey from concept to commercialization with heightened success rates. Not only does this establish a robust new platform for innovators to actively engage in the ecosystem through Commercialization-As-A-Service, but it also contributes to the development of a more resilient innovation sector capable of scaling with a sense of urgency.
If the Project X hypothesis resonates with you, here are three simple ways you can contribute to the advancement of Project X.
1. If you have ties to private investors or chief investment officers actively delving into investment strategies, we encourage you to initiate a conversation that could pave the way for introducing the Project X hypothesis. This has the potential to spark fresh discussions on wealth creation and preservation globally.
2. If you have ties to elected officials exploring innovative economic development models for their party platforms, we urge you to start a conversation that could introduce the Project X hypothesis. This has the potential to ignite new discussions on local living economies and community well-being worldwide.
3. Please carefully examine Project X with a discerning and curious mindset, aimed at providing effective support to innovators who may not fit the conventional entrepreneur mold. This initiative utilizes a commercialization-as-a-service model funded through a portfolio approach using private equity. Feel free to ask any clarifying questions, as your inquiries are welcomed and appreciated.