R&D investment creates invention that drives innovation, leading to a vibrant economy, job creation, and immeasurable benefits to society. Invention is the conversion of cash into ideas and takes place in the laboratory. True innovation is the conversion of ideas into cash. This must occur in the marketplace. Innovation is driven by market insight, is data driven, fact based, stage gated, and these days, sustainability focused. It is not sufficient to simply “Do the work right.” We must also “Do the right work.”
This conference by Pat N. Confalone explains the difference between invention and true innovation. Market driven innovation begins with an unmet need in the marketplace, succeeds through intense collaboration, and really doesn’t count until you get paid! Hence, the entrepreneur must identify opportunities based on deep market knowledge, select the best opportunities for the business, integrate with both core and accessible competencies, and drive disruptive change, executing with the resources required to win. Throughout our economic history, the entrepreneur has played a critical role in commercializing inventions and creating jobs. In fact, across all US commerce, regardless of the industrial sector, about one million more jobs are created in small companies and start-ups than are lost in the large companies every year for the last quarter century.
Focusing solely on the chemical sector, we’ve seen a steady decline in US based jobs over a twenty-year period from 1989-2009, resulting in a loss of 300,000 total jobs. However, if we list the most significant challenges the planet faces going forward, be it heath care, alternative energy and its storage, food supply, abundant water, biofuels, biomaterials, and climate change, we also are pointing out the greatest opportunities for chemistry based start ups in decades. Fully 96% of all manufacturing processes have a chemistry component and are in need of process improvements and enhanced productivity.
So this is how we will win: the US has the best research universities in the world. Vast sums of angel and venture capital are available [CA has more VC funds than any country, except, of course, the US]. We have a long tradition of science and technology driven innovation. Finally there are literally two centuries of entrepreneurship experience that has led to the great US based companies of today. In today’s world, the only real constant is change - change that occurs with greater frequency and increasing amplitude and the only certainty about the future is: it's coming!!
This program will provide answers to these important questions:
Who should attend
Pat N. Confalone Ph.D.
A graduate of M.I.T. , Pat N. Confalone obtained a Ph.D. at Harvard  with Nobel laureate Prof. R.B. Woodward. After a post doctoral stint , also with Prof. R.B. Woodward, directed toward the total synthesis of Vitamin B12, he joined the Chemical Research Department of Hoffmann-La Roche . Moving ... More info