Digital Media: A driver for economic growth
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Transcript of Digital Media: A driver for economic growth
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Digital Media: A driver for economic growth
Presentation by: Adam Froman
President & CEODelvinia Group of Companies
April 7, 2009
© 2009 Delvinia Interactive Corp. All rights reserved.
Why Not Here? The Emerging Leaders Network Ideas for Toronto
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“We have virtually unlimited resources to purchase innovative Canadian companies for about $100 million each, keep them in Canada, and growth them to be billion dollar enterprises...”
“...the problem is…
we can’t find any worth investing in.”
Quote from Canadian President of Multibillion dollar Global Technology Company
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How did this happen?
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Innovation
Innovation is a process through which economic or social value is extracted from knowledge – through the creation, diffusion and transformation of ideas – to produce new or significantly improved products, services or processes
Source: Conference board of Canada
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Colleges and Universities
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Source: Sustainable Development Technology Canada http://www.sdtc.ca/en/about/innovation_chain.htm
Fundamental Research
Applied Research
Technology DevelopmentAnd Demonstration
(Pilot to Full Scale)
Product Commercializatio
n & Market Development
Market Entry & Market Volume
Governments
Industry
Angel Investors
Venture Capital
Banks
Industry
Funding Intensity
Pre-IPOGap
Pre-Commercialization
Gap
Pre-Commercialization Gap
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Harnessing the “Troika”
• A new platform is needed for government, industry and academia to address the pre-commercialization gap
• Government investment must have the greatest impact on the economy and through this growth the public reaps the benefits
• Industry needs investment in the pre-commercial gap and High Quality People (HQP)
• Academia wants to see their knowledge meeting the needs of today’s society, they want to provide high quality relevant programs to students with linkages to industry, want to help create the opportunities in a rapidly changing economy,
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INDUSTRY
ACAD
EM
IC
INSTIT
UTIO
NS G
OVERN
MEN
T
ThePlatform
A Platform to Bridge the Gap
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The Platform: what it must support
• The platform has to engage the 3 players on their own terms
• The industries supported should be transformative in nature
• The platform itself should not have any sort of agenda other than meeting the needs of the customer
• Meeting the needs of the digital customer
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“Ontario recognizes that innovation can boost the productivity of the manufacturing sector and of the
services sector alike and thus ensure economic prosperity.”
“Ontario’s innovation agenda recognizes that post-secondary graduates need skills to support innovation in all sectors, including services.”
“The projected global market for the digital media sector alone is projected to
reach $1.5 trillion by 2009”
Digital Media: A Transformative Industry
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Defining Digital Media
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Twitter is the Fastest Growing Member Community Destination in Feb 2009
Source: Nielsen Netview, 2009, U.S. Home and Work
Rank Site Feb 2008 Feb 2009 % Growth
1 Twitter.com 475,000 7,038,000 1,382%
2 Zimbio 809,000 2,752,000 240%
3 Facebook 20,043,000 65,704,000 228%
4 Multiply 821,000 2,394,000 192%
5 Wikia 1,381,000 3,758,000 172%
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Facebook’s Growth has been Global
2-17 18-34 35-49 50-64 65+
Male 3.7 10.9 12.4 6 1.9
Female 3.6 11.9 11.7 7.6 1.3
1
3
5
7
9
11
13In
cre
as
e in
Un
iqu
e A
ud
ien
ce
(m
illio
ns
)
Source: Nielsen Online, Global Index, December 2007-2008
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The Conversation
Prism
Source:http://www.briansolis.com/2008/08/introducing-conversation-prism.html
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How Canadians Share Information
Sample: Nationally representative sample size of 11,600
Source: AskingCanadians, Delvinia Insight Engine, Delvinia Analysis
Sharing with 10 or more friendsSharing with 1 to 2 friends
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86%
14%
% of Canadians who PlannedOn Researching their Gifts Online in
2008
61%
39%
% of Canadians who PlannedOn Purchasing their Gifts Online in 2008
Yes
No
Yes
No
Source: AskingCanadians, Delvinia analysis
What Canadian online shoppers were planning on doing for 2008 holidays
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Which of the following do you find the most annoying:
What Canadian online shoppers find the most annoying
Multiple applications on the site that distract from the ability to shop
Continuous cross promotions
Lack of contact information for questions about products and services
Lack of relevant product information and customer reviews
Cluttered web pages that make the site dif-ficult to navigate
Full page pop up ads promoting another product and service
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
7%
9%
9%
15%
17%
43%
Source: AskingCanadians, Delvinia Insight Engine, Delvinia analysis
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Use
of t
echn
olog
y
Time
Consumersexpectationsof technologyin their lives
Companies use of technology to connect with their customers
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The Ageof the DigitalCustomer
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Digital Customer Experience
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It’s not about funding digital media at large It’s not about a narrow focus of chasing one
segment of digital media (ie. gaming) It’s not about funding “gee whiz” technologies It’s not about “gizmos” or “widgets” It’s not the Internet, mobile/wireless, social
media, etc… It’s ALL about the Digital Experience
Fitting Digital Media on the Innovation Agenda
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It is about commercialization Commercialization takes place in industry Therefore the platform is about innovation
through industry driven digital experience projects
Digital Media and the Innovation Platform
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INDUSTRY
ACAD
EM
IC
INSTIT
UTIO
NS G
OVERN
MEN
T
ThePlatform
Economy
Sectors
Companies
ProjectsGovernmentFunding
Services/Products
HQP
$ $ $ $
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Crossing the Activation Barrier
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WE NEEDChange
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Inappropriate questions posed about an Innovation Project
How many jobs will it create? What is the minimum return on
investment? How much will be funded by government,
how much by industry? How long will it take? What it will lead to…buildings, operations,
other projects?
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Appropriate questions to ask aboutan Innovation Platform
How many jobs will it create? What is the minimum return on
investment? How much will be funded by government,
how much by industry? How long will it take? What it will lead to…buildings, operations,
other projects?
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For each $10 Million invested into an Innovation Platform
How many jobs will it create?• 500 to 1000 High Quality, Sustainable Jobs
What is the minimum return on investment?• Companies participating in the platform will invest an additional $100 Million into
the economy
How much will be funded by government, how much by industry?
• Initial $10 Million by government• the remaining $90 Million by industry at the back end
How long will it take?• 18 to 24 months (1/2 the time of existing innovation cycles)
What it will lead to…buildings, operations, other projects?
• Yes…if that is what is needed to drive future growth
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We have to want
success
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Customer Focused
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We needInnovation
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We NeedVision
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Qa`1
We Need Leadership
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We have to want success
Adam FromanPresident & CEOThe Delvinia Group of Companies
Tel: 416.364.1455 x222
Email: [email protected]
Our Website: delvinia.com
Our Blog: delvinia.com/diseases
Follow me on Twitter: @adamfroman