Industrial Technology and Venture Services

Building Human Bridges of Cooperation

Together Everybody Achieves More

- Overview 

Industrial technology is the use of engineering and manufacturing technology to make production more efficient, faster, and simpler. Venture capital (VC) is money invested in small or startup companies

Invention, innovation, technology, and entrepreneurship are all related to the process of creating something new, and successful entrepreneurship often involves a combination of invention and innovation:

• Invention: The discovery of something new, often the result of unique intuition or genius. Inventors are usually creative people who are looking to create something new, but they often don't try to sell their invention on the market.
• Innovation: The successful implementation and adoption of something new, such as a new idea, process, or product. Innovation is the application of creativity to transform existing inventions into practical products or processes that have real-world utility.
• Entrepreneurship: The process of designing a new business, where the entrepreneur perceives a new business opportunity and gathers the resources to implement it. Entrepreneurs focus on taking a product to market where it can sell to customers or clients.

Critical enterprise systems and investments - represented by technology business, network and trust, and core modernization - need to be seamlessly integrated with innovative technologies to ensure that the enterprise can operate seamlessly while growing. 

In an increasingly converged world, enterprises should actively explore the intersection of industries and technologies that can drive cross-border innovation. Artificial intelligence (AI) runs through almost all trends. Looking forward, it will become the foundation of everything we do.

The extent to which AI is being integrated into our lives. We will eventually view AI the same way we view HTTP or electricity. We won’t actively use it; we’ll just experience a world where it makes everything smarter, faster, and more intuitive - like magic, but based on algorithms.

- Creativity, Innovation, and Invention

One of the key requirements for entrepreneurial success is your ability to develop and deliver something unique to the market. Entrepreneurship is associated with creativity over time, the ability to develop something original, especially an idea or a representation of an idea. Innovation requires creativity, but innovation is more specifically the application of creativity. 

Innovation is the expression of creativity into usable products or services. In an entrepreneurial context, innovation is any new idea, process, or product, or change to an existing product or process, to add value to an existing product or service. 

All inventions contain innovations, but not every innovation rises to the level of unique inventions. For us, an invention is a truly novel product, service or process. It will be based on previous ideas and products, but it's a leap forward, it's not seen as a complement or variation on an existing product, but something unique.

Creativity, innovation, and invention are essential for successful entrepreneurship. Creativity fuels the generation of new ideas, while innovation transforms those ideas into practical applications and solutions. Invention is the process of creating something entirely new, often building upon innovation. Entrepreneurs use these concepts to identify opportunities, solve problems, and gain a competitive edge in the market. 

- Creativity: The ability to generate novel and useful ideas.

• Role in Entrepreneurship: Creativity is the spark that ignites the entrepreneurial journey. It's the capacity to envision new products, services, or business models.
• Example: A creative entrepreneur might identify a gap in the market for a subscription box catering to specific hobbies or interests, says a Fiveable article.

- Innovation: The process of implementing creative ideas into tangible products, services, or processes.

• Role in Entrepreneurship: Innovation is the bridge between creativity and commercial success. It involves taking those creative ideas and developing them into something practical that can be offered to the market.
• Example: An entrepreneur might innovate by developing a new software platform that streamlines customer service.

- Invention: The creation of something entirely new, often a breakthrough or paradigm shift.

• Role in Entrepreneurship: While not always a primary focus, inventions can be powerful catalysts for entrepreneurial success. They can create entirely new markets or disrupt existing ones.
• Example: An entrepreneur might invent a new technology that revolutionizes the way people communicate, like the invention of the internet or mobile phones.

In essence, creativity provides the foundation for innovation and invention, which then drive the entrepreneurial process. By understanding and leveraging these three concepts, entrepreneurs can create and build successful ventures that meet the needs of the market and contribute to societal progress.

- Entrepreneurship in Basic and Applied Research

Basic research is curiosity driven. It is motivated by a desire to expand knowledge and involves the acquisition of knowledge for knowledge's sake. It is intended to answer why, what or how questions and increase understanding of fundamental principles. Basic research does not have immediate commercial objectives and although it certainly could, it may not necessarily result in an invention or a solution to a practical problem. 

Applied research is a methodology used to solve a specific, practical issue affecting an individual or group. New knowledge acquired from applied research has specific commercial objectives in the form of products, procedures or services. This scientific method of study and research is used in business, medicine, computing and communications, sciences, and engineering in order to find solutions that may improve health, solve scientific problems or develop new technology. 

Fundamental research answers the initial question of how things work. This fundamental knowledge is then used by applied scientists and engineers, for example, to make improvements on existing products, technologies and processes. Likewise, basic researchers take advantage of improved technologies to answer new fundamental questions. It is an important cycle for advancement.

Entrepreneurship plays a vital role in both basic and applied research. In basic research, entrepreneurs can leverage findings for new product development and market innovations, particularly if the research has commercial potential. Applied research, focused on solving specific problems, offers entrepreneurs opportunities to develop solutions and build businesses around those innovations. 

- Entrepreneurship in Basic Research:

• Innovation and Commercialization: Basic research, while primarily driven by the pursuit of knowledge, can uncover discoveries with significant market potential. Entrepreneurs can identify these opportunities and develop new products, services, or technologies based on the research findings.
• Collaboration and Funding: Entrepreneurs can collaborate with scientists and researchers conducting basic research, potentially funding their work and gaining access to valuable knowledge and expertise.
• Market Research: Understanding the potential applications and commercial value of basic research findings is crucial for entrepreneurs. Market research can help assess the feasibility of commercializing a discovery.
• Example: A basic research study on a new material could lead to the development of a revolutionary product by an entrepreneur.

- Entrepreneurship in Applied Research:

• Problem Solving: Applied research focuses on addressing specific challenges. Entrepreneurs can leverage this research to develop innovative solutions and create businesses around them.
• Product Development and Improvement: Applied research can inform the design and development of new products or the improvement of existing ones. Entrepreneurs can build businesses based on these advancements.
• Market Needs: Applied research often directly addresses specific market needs or customer demands. Entrepreneurs can identify these needs and develop products or services to meet them.
• Example: A study on improving agricultural yields could inspire an entrepreneur to develop a new fertilizer technology.

Basic research is driven by curiosity and the pursuit of knowledge, while applied research focuses on solving practical problems. Basic research can take longer to yield practical applications, while applied research often has a more immediate impact. Both types of research can involve collaboration with various stakeholders, but the nature of the collaboration may differ.

Entrepreneurship can be a powerful force in both basic and applied research, driving innovation, commercialization, and the creation of new businesses. Understanding the strengths and weaknesses of each type of research is crucial for entrepreneurs seeking to leverage research findings for commercial success.

- Bridging and Networking

The “valley of death” is a common term in the start-up world, referring to the difficulty of covering the negative cash flow in the early stages of a start-up, before their new product or service is bringing in revenue from real customers.

"Many breakthrough technologies originate in R&D and academic laboratories, but many perish there as well. As scientists and entrepreneurs try to move nascent technologies from the research phase to large scale commercialization, they face high capital costs, intense competition from deeply entrenched incumbents, and a dizzying array of contractual and financing hurdles." -- [MIT]

A true venture partner provides more than money, but mentorship, counseling and strategic advice that can elevate start-up firms and small businesses to new heights.

Venture partners play a crucial role in bridging the gap between startups and venture capital firms, acting as both intermediaries and advisors. They leverage their industry knowledge and extensive networks to identify promising startups, guide portfolio companies, and facilitate relationships within the VC ecosystem.

• Scouting and Deal Sourcing: Venture partners often have deep industry expertise, allowing them to identify emerging trends and high-potential startups that align with a firm's investment thesis. They use their networks to source deals, attend industry events, and stay informed about market developments.
• Guidance and Support: Once a startup is invested in, venture partners provide guidance and support, helping to navigate the complexities of growth and scaling. They may offer advice on strategy, operations, or fundraising, leveraging their experience and network.
• Bridging Relationships: Venture partners act as a bridge between the venture capital firm and the startup, fostering communication and collaboration. They may introduce startups to potential clients, partners, or key hires, facilitating connections that can accelerate growth.
• Networking and Expertise: Venture partners' extensive networks are a valuable asset, providing access to industry experts, potential investors, and strategic partners. They can also leverage their expertise to guide startups on navigating legal, financial, or operational challenges.
• Talent Acquisition: A venture partner's network can be instrumental in attracting experienced and skilled professionals, which is crucial for scaling a startup's operations. They can help connect startups with key hires who can fill critical roles.

[Stanford University]

- Embracing the Future: Emerging Tech and The Future of Tech Solutions

Invention is often the foundation for entrepreneurship, as entrepreneurs often start with an innovative idea or technological breakthrough that forms the basis of their venture. Once an invention exists, entrepreneurs need to innovate to create value and bring their ideas to life.

As government intervention in the economy becomes more common, the struggle for industrial technological dominance is intensifying. Investors who were once enamored with asset-light companies and high returns had better prepare to spend billions on these companies or risk being squeezed out. 

This is not just a reaction to the Russia-Ukraine war and geopolitical tensions between the United States and China. Commodity shortages and labor shocks over the past few years have exposed the fragility and unwieldy nature of global supply chains. 

To ensure we don't find ourselves in this situation again, governments in the West and elsewhere are stepping up multibillion-dollar industrial policies to incubate the next generation of hardware, including chips, 5G base stations, electric vehicles, batteries and high-tech products.

 - Trends Reshaping the Future of IT and Business

Key trends reshaping the future of IT and business include: artificial intelligence (AI), cloud computing, blockchain technology, advanced connectivity (like 5G), edge computing, generative AI, data analytics, cybersecurity, sustainability initiatives, immersive technologies (AR/VR), robotics, and the increasing focus on digital trust. 

All of which are driving innovation in various sectors by enabling automation, personalized experiences, improved decision-making, and more efficient operations.

• Artificial Intelligence (AI): Widely applied across industries for tasks like customer service, predictive analytics, fraud detection, and process automation, with advancements in machine learning and deep learning further expanding its capabilities.
• Cloud Computing: Enabling scalable and flexible IT infrastructure, allowing businesses to access computing power on-demand without managing physical hardware.
• Blockchain Technology: Revolutionizing data security and transparency in transactions with applications in supply chain management, finance, and digital identity.
• Advanced Connectivity (5G): High-speed, low-latency networks enabling new applications like autonomous vehicles, IoT devices, and real-time data analysis.
• Edge Computing: Processing data closer to its source, improving responsiveness and reducing latency for geographically dispersed applications.
• Generative AI: Creating new content like text, images, and code based on patterns learned from existing data, opening up possibilities for creative applications.
• Data Analytics: Leveraging big data to extract valuable insights for informed decision-making and business strategy development.
• Cybersecurity: Growing importance of robust security measures to protect against cyber threats as businesses become increasingly reliant on digital systems.
• Sustainability Initiatives: Integration of environmentally friendly practices and technologies into business operations to address climate change concerns.
• Immersive Technologies (AR/VR): Providing interactive experiences with augmented and virtual reality for training, product visualization, and entertainment.
• Robotics: Automation of repetitive tasks in manufacturing and logistics, enhancing efficiency and productivity.

- Technology at the Edge

It's easy to become desensitized to new technologies entering the market, each with its own promise to change (more often "revolutionize") the business world. Collectively, these technology trends are accelerating the key characteristics that define the digital age: granularity, speed, and scale. But it’s the sheer magnitude of these changes - computing power, bandwidth, and analytical sophistication - that opens the door to new innovations, services, and business models. 

For example, 

• The advent of the cloud and 5G has enabled exponential growth in computing power and network speeds, allowing for greater innovation. 
• The development of augmented reality and virtual reality metaverses has opened the door to virtual research and development through means such as digital twins and immersive learning. 
• Advances in artificial intelligence, machine learning and Software 2.0 (machine-written programming) are enabling a range of new services and products, from self-driving cars to connected homes.

- A New Era of AI and Business 

A new era of AI and business refers to the current period where artificial intelligence (AI) is rapidly transforming how businesses operate, enabling them to make data-driven decisions, automate processes, personalize customer experiences, and innovate at a much faster pace, fundamentally changing the way companies function across various industries; essentially, it's a shift towards leveraging AI capabilities to gain significant competitive advantages and drive growth.