Hug an entrepreneur

Much has been said about creating an innovative culture. Research laboratories, government departments and agencies are all trying to make us understand how to innovate. The thought is that innovation is the same as wealth creation. However, to create this wealth someone has something to do with innovation, someone who is willing to take the risk that things might not work out quite as expected.

That someone is typically referred to as an entrepreneur (or 'Intrapreneur' intelligent B-school term for those within a company). If you put three or four intelligent people together for an hour or so, are very likely to come with some innovative and potentially profitable ideas. However, the possibility of doing anything with anyone's ideas are rather scarce. Even in companies that pride themselves on innovation, the innovations that are not congruent with the corporate strategy is set aside. Innovation without entrepreneurship is usually just an intellectual exercise.

Maybe what we do in Canada is to create an entrepreneurial culture. Rather than just focus on innovation, we also support people who make it happen - entrepreneurs. People like Adrian, who is revolutionizing atmospheric remote sensing, or Mark, which is dramatically changing the coated fabrics industry with solutions 'green'. Greg and Nic who have become leaders in optimizing the management worksite and Linda, who is lighting the world.

We teach our youth how to be entrepreneurs. Give entrepreneurs the Order of Canada. Let's take an entrepreneurial path to fame. Let entrepreneurs funds to the same extent as innovators. These are the people who turn innovation into wealth. A series of patents does not create wealth - is building businesses that use them that does.

Some organizations get it. For example IRAP program of the National Research Council has called a great offer management consulting services it pays for management consulting services to help business owners repair holes in their business plan for bringing innovation to the market. Perhaps other agencies should develop similar programs to help entrepreneurs to transform their innovations into wealth.

So hug an entrepreneur. They are our real engines of growth.

Published in November 2008.
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