Why IT Must Steal VCs From Silicon Valley - InformationWeek
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Why IT Must Steal VCs From Silicon Valley
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ChrisMurphy
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ChrisMurphy,
User Rank: Author
1/22/2014 | 9:32:33 AM
Re: Tech Innovation Ecosystem Infographic
That different breed of innovator is going to be either a partner or a rival. Look at 2 examples in healthcare. The former CIO of the St. Joseph healthcare group in Southern California is involved in a for-profit effort called the Innovation Institute (with the backing of St. Joseph and others) to find new product ideas among healthcare pros and bring those to market. UPMC in Pittsburgh has a nearly 200-person technology development group working -- often in partnership with a vendor -- on new product concepts.
RobPreston
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RobPreston,
User Rank: Author
1/22/2014 | 8:41:47 AM
Re: Tech Innovation Ecosystem Infographic
Related to what Chris Murphy says here, Silicon Valley VCs need to "get out more." Rather than CIOs nationwide trying to cultivate VC communiites on their own, perhaps the top VCs need to set up branches and spend more time in key cities where they can actively contribute to and learn from a different breed of innovators.  
ChrisMurphy
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ChrisMurphy,
User Rank: Author
1/21/2014 | 12:36:27 PM
Re: Tech Innovation Ecosystem Infographic
It feels more important than ever for tech startups and VCs to be plugged into industry specific needs -- think wearable medical devices, or Internet of things needs in industrial settings. So it's an opportunity for CIOs at established companies, as Chris notes. But it takes an investment for established companies to work with startups, an investment of at least people and time. Are the kind of soft benefits mentioned here enough to make it worth the effort, or should companies be looking to profit directly from those efforts, in the form of joint ventures or equity investments alongside VCs?
JeanneH309
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JeanneH309,
User Rank: Apprentice
1/21/2014 | 12:13:14 PM
Tech Innovation Ecosystem Infographic
Great post, Chris.  A strong tech startup ecosystem benefits overall economy of the region as well as offering big benefits to local IT execs.  But as we learned in our research, there are many elements that contribute to a robust tech innovation ecosystem.  Readers who want to learn more should check out this infographic:

http://www.accenture.com/us-en/Pages/insight-silicon-valley-tech-innovation-ecosystem-infographic.aspx 

And here's an informative infographic on lessons in running enterprise IT from Silicon Valley CIOs:

http://www.accenture.com/us-en/Pages/insight-silicon-valley-way-infographic.aspx

 

 


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