The innovation economy is shifting the focus of societies around the world. Instead of economies focused on developing and distributing valuable commodities from scarce resources, society's new goal is to increase the quality of life for all and expand wealth by developing new business models, products and services, and forms of production.
In August, Orlando, Inc. held its quarterly Business Success Strategies (sponsored by Cocoa-Cola and Insperity) with a full house of strategic thinking members who heard a panel discuss Orlando’s role in leading the innovation economy. The panel participants included:
“I’ve seen some great work take place in Orlando and there’s been tremendous advancement with Central Florida’s $6 billion modeling and simulation industry,” said Armstrong. “I like to say innovation is executing on creativity.”
Patel added that he enjoys “manufacturing serendipity” and explained how. “Today you're lucky to hold onto someone's attention for seven seconds, much less 15 minutes. So, when we discovered that virtual reality environments were giving us a tremendous increase in attention spans, we knew we were onto something,” said Patel.
The pinnacle of high stakes innovation can easily be found at NASA where Trey Carlson adopted the mantra "failure is not an option." The Space Coast was on the brink of failure when the shuttle program ended and the community had to find new ways of doing business. “NASA has a renewed focus on partnerships and collaboration that has led to tremendous success, innovation and job growth all around Kennedy Space Center,” he said.
The innovation economy stands to make even more far-reaching changes in the world. The innovations that have been made over the last few decades, alone, have altered the way we live our lives and the way we do business.
About Business Success Strategies
Business Success Strategies is designed for Orlando Inc. members and Orlando Economic Partnership investors to discover business intelligence from local leaders who share their skills, experience and best practices that lead to success. This builds your business by accessing new tools, ideas, resources and connections that will provide a competitive advantage, while exploring new opportunities. To learn more about Business Success Strategies, or for more information about Orlando, Inc., visit orlandochamber.org.
About the Orlando Economic Partnership
The Orlando Economic Partnership (the Partnership) works to provide the Orlando region with quality jobs, economic growth, broad-based prosperity and a sustainable quality of life. It is a not-for-profit, public/private partnership representing Central Florida's seven counties – Brevard, Lake, Orange, Osceola, Polk, Seminole and Volusia – as well as the City of Orlando. The Partnership was formed from the merger of the Central Florida Partnership and the Orlando Economic Development Commission.