Industries of the Future

What makes an area attractive to innovators and entrepreneurs? What makes an economy take off rapidly into high technology? How do we develop fresh ideas for the future?

In fact – what does it take to build a climate for innovation in a region?

That question has come to the fore in recent years with the publication of Richard Florida's book The Rise of the Creative Class. He argues that where it was once material resources that determined locations for development, the key is now people.

Certainly the various packages of support to companies are needed, he says, but the starting-point is the people whose innovative ideas can kickstart new companies and new industries. And unlike coal and oil and iron, people can move around to wherever they feel most at home. So the development challenge of the early 21st century is to make an area sufficiently attractive to the Creative Class.

And how do we do that? By, says Richard Florida, working on the three T's – Talent, Technology, and Tolerance. Creative people like to mix with other talented people (the first T) and the buzz of ideas that can be shared. They like to go where new technologies are being developed (the second T). And the third one is – they like a tolerant society, where they can feel free to float radical ideas.

So the starting-point for encouraging the industries of the future is to create a climate for them – a climate which will attract the people whose talents drive forward the development of these industries. Going Nova was set up with this aim in mind: to help to create a climate for new developments in science and technology.

What kind of industries?

When it comes to identifying particular industries, one way to begin is to look at the challenges that the world faces, today and in years ahead. Climate change, shortage of energy and other resources, economic instability.

To tackle these will require the expansion of some industries and the creation of others.

For fuller details:

The Rise of the Creative Class

Creative Climates in Europe