Embracing The Future: Preparing for The Golden Decade of American Innovation

Thanks to OCSC member Infologic for this thought leadership article about the technology industry:

Are you ready for the Golden Decade of American Innovation?

Written by Has Patel, founder of Infologic

The daily headlines focus on the war, geopolitical tensions, stock market meltdown, inflation, political divide, and various societal issues, such as climate change.

Under these headlines, partly due to the above issues, a historical shift is happening to redefine American Innovation, which can positively impact the above issues and enhance American Society, Economy, Science & Technology, and Leadership.

We are witnessing a historic opportunity! The United States has an ambitious and bold Innovation agenda to enhance the American economy, security, and leadership. This agenda includes various Science & Technology (S&T) focused investments and related acts and initiatives. Though some ideological, size of the budget, and region-focused differences exist, most of the agenda has necessary bipartisan support. These developments offer the stakeholders excellent business and societal development opportunities to leverage this historic opportunity.

Redefining the American Innovation

During the 20th Century, the traditional goal of American Innovation was to invest in Science & Technology (S&T) to enhance national goals. As shown in the following figure, the 21st-century innovation goal is being refined by incorporating two additional elements; (1) Leveraging the S&T investments to address American Societal issues and (2) Leading the world in leveraging the nascent Fourth Industrial Revolution, which will redefine the way we Live, Work and Play.

During this third decade of the 21st Century, the fundamental elements of the American Innovation Model are being redefined. This emerging model has had significant bipartisan support in Congress. The following paragraphs show the approved legislations, & federal initiatives and their possible impact on addressing the above three elements.

Operation Warp Speed - A $20 Billion federal investment initiative that infused Innovation into how pharmaceutical products, particularly vaccines, are developed and manufactured. In particular, this Initiative provided a solid foundation for the mRNA platform, which could result in future innovations to cure Cancer and other diseases.
Infrastructure Investment and Job Act – In addition to the "physical infrastructure" investments, this Act provided billions of dollars to support "digital infrastructure," the backbone of the Fourth Industrial Revolution. These investments include...