Navigation path

Left navigation

Additional tools

Tag ‘Future’

The future of innovation and enterprise – What can we expect?

Tags: , , , , , , , , , , , , , , , , ,

Tue David Bak, director of Innovation and Growth for Region Zealand in Denmark, is back for a final interview with Promoting Enterprise. Today the subject is the future, what does it hold for innovation and enterprise? What can we expect? What are the trends telling us? Read on to find out…

What trends do you see in innovation?

In Denmark specifically, the public sector is embracing innovation, which I see as a positive thing. Overall, user driven innovation is increasing, as consumers and users begin to play larger roles in development, and there is a shift from only research based innovation. The current trend is disruption of society as there is a need for innovation for us to advance.

What measures/steps are you taking to encourage digital innovation in Region Zealand?

In Region Zealand we currently don’t do enough and as such we are not a front runner in the digital space. In Denmark however there have been some steps towards pushing companies to work digitally and make that digital transformation. The Danish Business Authority (which takes care of company registrations and working in the Danish public sector) took the controversial decision to make it mandatory for all companies to digitally invoice if they wanted to work in the public sector. Initially there was a lot of resistance but overall it helped – and is still helping companies – to transition to the digital sphere. As such, Denmark has no physical paper trails for monetary transactions and the public sector is going fully digital. That is truly innovative.

As director for innovation and growth, what do you see as the future of enterprise?

The same situation can be seen across all the EU countries, the public sector is under enormous strain which has and will continue to be a catalyst and driver for innovation. This in turn will result in increased cooperation and further blurring of public and private divisions. This blurring of divisions also relates to how the idea of employment is changing and evolving, which is not to say it is negative, but simply means that new working models are beginning to emerge. I see the future of enterprise as no longer including the ‘employee’ concept, I think this will be phased out. It is not uncommon now and nor will it be in future to have multiple jobs or hybrid employment models, alongside an overall merging of individuals and companies.

What does the future of enterprise look like in Denmark? Do you think it is different to global trends or where the future of enterprise will go globally?

Denmark has always had a strong focus on creating a business environment conducive to startups and entrepreneurs. So far we have been successful, but we also need to change in order to stay competitive and innovative. The new focus now needs to be on helping startups to scale up. So the big question for us now is how do we scale up in Denmark? Perhaps a larger and certainly important question is, how do we scale up in the EU?

Innovation in large companies: CP Kelco, Region Zealand

If you enjoyed this insightful interview with Tue David Bak, be sure to read his other interviews right here on the Promoting Enterprise Portal.

First interview: Innovation – What is it and how can it be fostered?

Second interview: Startup Culture – Tue David Bak shares his insights and predictions

The future is an opportunity

Tags: , , , , , ,

In a recent interview, Jan Vanherck, a well-known Belgian entrepreneur and Dean of the United International Business Schools in Belgium, Spain, and Switzerland, took the opportunity to look into the future.

binoculars-1209011_1280

In 1975, Gordon Moore, co-founder of Intel Corporation and Fairchild Semiconductor, forecast the doubling of computer power every two years. Will this continue and how will it affect the world of the future?

His prediction has proven to be accurate over the past 40 years. It has led to an ever-accelerating progression and miniaturisation in all chip-based technologies, and this evolution has huge consequences for the world of tomorrow. Experts have forecast that computer hardware will match the human brain, in terms of creative design and analytical capabilities, in 15 to 20 years. The interaction between brain science and information technology will create artificial intelligence, a research field crucial to future generations.

Already, this increased computing power is delivering better understanding of the human body, and DNA sequencing is a good example.  In 1970, Nobel laureate, Jacques Monod, said: “The molecular size of DNA prohibits, without any doubt, modification of the genome. The sequencing of the human genome is impossible, or, anyway, unreachable in three to five centuries”. How wrong he was! Only six years later, the first genetic manipulation took place and in the first years of this century, the first full sequencing of human DNA was achieved. Just ten years later, the consumer genomics company 23andMe began offering genome sequencing for $999 and soon it will be available for as little as $100. This is the gateway to personalised medicine, particularly for the treatment of all hereditary diseases, and cancer.

Do you see other technologies having a similar effect?

Absolutely! For example, nanotechnology.  Nanoscience and nanotechnology are the study and application of extremely small things and can be used across all other science fields, such as chemistry, biology, physics, materials science, and engineering. To give you an idea of what a nano size is, the thickness of printer paper is about 100 thousand nanometres. On a comparative scale, if a marble were a nanometre, then one metre would be the size of the earth.

Nanotechnology will allow us not only to develop medicines that act on the level of our cells and tissues, repairing defects on an inconceivably small scale, but also to build micro engines and micro sensors.

The technology will be widely available in a few years time and will extend our life expectancy dramatically. Neuro-genetic scientist, Laurent Alexandre, in a now famous TED-talk entitled,  “Le recul de la mort” (“The retreat of death”), summarised this evolution by saying that he believes that the first person who will live to be 1000 years old has already been born.

What about globalisation and entrepreneurs?

Globalisation is a term that has been politicised so let’s talk about global networks instead. They already exist, facilitated via the Internet and, from the point of view of society, it will make us interact with a lot of people, spread over the world, exchanging ideas, thoughts, and concerns. Political power will shift and emerging countries, such as China and India, will take a dominant role. New players and new markets will emerge. We’ll need to cope with different cultures, each with their own set of values.

Internet technologies, another area for innovators and entrepreneurs, are causing rapid changes in the world with the rise of Big Data. The world is becoming dominated by an all-knowing network. The fact that it gathers an enormous amount of data and, more importantly, has the computing power to actively process it and get information out of it, will force us to rethink a lot of things, privacy, for example, and freedom, family, friendship, love, and honesty.

Intellectual property is another issue. Billions of people thinking, generating ideas, writing papers, books, songs… Inventing new applications, offering new commercial services and products. Can individuals or companies claim the knowledge and decide whether they will use it, or simply put it in the fridge? Should we allow organisations to gather and process our individual data? How will we define ownership and plagiarism? These concepts were developed in the last century by a world where communication was done using handwritten letters, then wired phones and facsimile machines. Are these concepts strong enough to overcome the tsunami of the Internet and Big Data?

space-telescope-532989_1280

What is the role of business education in all this?

We need to make sure that future entrepreneurs can handle the big, unknown challenges. Let me quote Gordon Moore again: “The technology at the leading edge changes so rapidly that you have to keep current after you get out of school. I think probably the most important thing is having good fundamentals.”

Learning does not stop. Only a few decades ago, the teaching of students was considered complete when they graduated. In the best case, people took a few refresher courses during their professional life and that was it. Today, with the vast amount of new knowledge in front of us, learning is a continuous activity. It doesn’t stop today, it simply goes on. It is important to realise that every theory and model we teach is only a statement of current knowledge and is only true in certain circumstances and those circumstances are subject to radical change at ever increasing speed. We need to teach our students – the entrepreneurs of the future – how to think because they are going to have to answer questions we’ve not yet even thought of. We need too re-think ourselves and our environment, and challenge everything.

  • Useful links

  • Tags

  • RSS Promoting Enterprise

    • Less than a week to go…SME Assembly 2017 November 17, 2017
      Less than a week to go until the start of the SME Assembly 2017! We’ve been telling you to get ready, shown you the programme, introduced the venue and given a few sneak peeks at what to expect from the assembly…so what is left? Today we share with you the final programme and a quick […]
      promotingenterprise
    • European ideas that will change the world November 15, 2017
      On November 22, entrepreneurs from all around Europe will present their ideas to change the world for the better. 28 innovators from across the European member states will compete in the semi-finals of ‘Ideas from Europe’ in Tallinn and share their solutions to global challenges. From tackling food waste, using innovative technology to diagnose health […]
      promotingenterprise
    • Time for an EEParty in Tallinn! November 7, 2017
      November continues, the countdown has begun and the SME Assembly 2017 continues to get closer! Not long now until we get to experience the exciting business tours, speeches, masterclasses, policy sessions and live competitions from both Ideas from Europe and the European Youth Essay Competition. A very important part of the Assembly is also fast […]
      promotingenterprise
    • Responsible and Inclusive entrepreneurship – Final EEPA 2017 introductions November 2, 2017
      Time to introduce our final category of EEPA 2017 candidates! The category of ‘Responsible and Inclusive entrepreneurship’ recognises initiatives that promote corporate social responsibility among small and medium-sized enterprises and entrepreneurship among disadvantaged groups such as the unemployed, legal migrants, disabled, or people from ethnic minorities. This year there are two nominated projects for the […]
      promotingenterprise
    • The European Small and Mid-Cap Awards November 1, 2017
      The European Small and Mid-Cap Awards, a joint initiative of the European Commission, the Federation of European Securities Exchanges and EuropeanIssuers, aim to promote best practices and encourage more small and medium-sized enterprises (SMEs) to access capital markets via IPOs. Every year, awards are given in four categories: Star of 2017, Star of Innovation, International […]
      promotingenterprise
    • SME Week Newsletter 2017: Issue #7 October 31, 2017
      The month of November is almost here, which means the countdown to the SME Assembly 2017 has begun! The EEPA shortlist has been published and each project is being introduced individually on the Promoting Enterprise News Portal. Be sure to have a look at which projects are competing for the European prizes this year. If EEPA finalists were not […]
      promotingenterprise
    • Ideas from Europe: Semi-finals at the SME Assembly 2017 October 30, 2017
      Ideas from Europe are coming back to the SME Assembly, but this time with their semi-finals. During the SME Assembly on November 22, innovative entrepreneurs from across EU Member States will pitch their ideas for solutions to Global Challenges, with the aim of putting visionary entrepreneurs and their ideas under a European spotlight. After pitching […]
      promotingenterprise
    • Meet the EEPA 2017 candidates for the ‘Supporting the Internationalisation of Business’ prize October 26, 2017
      What other inspiring projects are competing for an EEPA 2017 title? Today we introduce you to the shortlisted candidates in the ‘Supporting the Internationalisation of Business’ category, which recognises initiatives that give enterprises, particularly small and medium-sized businesses, opportunities and encouragement with regards to both EU and external markets. This year’s candidates are from Austria, […]
      promotingenterprise
    • What a difference an investment platform makes – What to expect of the EIPP session during the SME Assembly 2017 October 25, 2017
      Nowadays, apps and digital platforms are everywhere and have become a part of everyone’s lives: from ordering one’s takeaway dinner, to monitoring one’s fitness progress and well-being, to make romantic relationships and the entire process of going out and meeting new people much easier. Digital tools are also increasingly being used for business and work […]
      promotingenterprise
    • SME Assembly 2017 countdown – Kultuurikatel & The 2017 programme October 24, 2017
      The countdown to the SME Assembly 2017 is officially underway! With less than one month to go it is time to present the incredible Estonian venue that will host the assembly this year…Kultuurikatel. Kultuurikatel is the official Tallinn Creative Hub and hosts many concerts, receptions, workshops, conferences and high profile events. Once part of the […]
      promotingenterprise