(Cary, N.C.) President of the international strategic consulting firm F.O.C.U.S. (TM) Resources, Lea Strickland, MBA/CMA/CFM/CBM/GMC, discussed the role of private sector on commercializing government–funded research and inventions on the high-profile Washington, D.C. news show Capital Insider Friday, October 22 on News Channel 8 WJLA TV.
The interview coincided with the publication of her eighth bi-weekly column on innovation and entrepreneurship issues on the award-winning national financial media outlet TheStreet.com.
“The importance of job creation and reviving the economy is critical to the nation as a whole and businesses large and small. Everyone is looking for a solution to the continued economic challenges. Everyone wants to know ‘how.’ The answer is focusing more on getting the right infrastructure in place AND having government work with the business community, not against it,” Strickland stated.
“Also, profit and a profit motive is NOT a bad thing. Until everyone realizes that the private sector and businesses fund the government and non-profit sector through profits and return on investment, then they will be working against each other.”
Capital Insider focuses on business and workforce issues in the federal government and the Washington, D.C. metropolitan area. WJLA and its sister website TBD.com are owned by the same communications company which owns POLITICO.
During the interview, Strickland focused on the need for a profit motive in successful research and invention commercialization. Government research funding like the Small Business Innovation Research (SBIR) program have been challenged when it comes to improving commercialization rates as the programs cite commercialization as a goal – including job creation and expansion of the economy – yet the structure of programs and private funding restrictions have limited the success of many entities in achieving commercialization.
Strickland said the solution to job creation and reviving the economy lies in recognizing the need to set commercialization and profitability as an objective and a priority. Public and private, for-profit and nonprofit, commercial entities and universities need to get on the same page – job creation and economic growth.
In her October 19 TheStreet.com column “Innovators Pay for Results, Not Time” Strickland outlines the merits delivering a quality work product on-time and the benefits achieved when focusing on results rather than time spent on a project.
The bottom-line for everyone, Strickland said, is “You can’t have innovation without commercialization.”
To watch the WJLA interview with Lea Strickland visit www.tbd.com/blogs/capital-insider/2010/10/highlights-3597.html.
All of Strickland’s articles on TheStreet.com can be found by typing “Lea Strickland” in the search box at the top of that website’s home page. Founded in 1996 by CNBC’s Mad Money host Jim Cramer, TheStreet.com receives over 7 million unique monthly visitors and 60 million page views each month.
More articles and information on entrepreneurship and innovation are available on LeaStrickland.com and TechnovationEntrepreneur.com, the home of Strickland’s Technovation Entrepreneur (SM) program. Designed for spin-outs of technology transfer programs, individual inventors, incubators/accelerators, and entrepreneurs, Technovation Entrepreneur (SM) provides educational material and direct assistance on launching and building profitable companies that are successful in transitioning research into real world applications that meet specific market needs.
ABOUT LEA STRICKLAND
Lea Strickland, MBA/CMA/CBM/CFM/GMC, is an internationally renowned business strategy expert, well-versed in guiding businesses and university partners through the complex technology transfer process. She is the founder of Technovation Entrepreneur (SM), a program that helps entrepreneurs turn their ideas into businesses, and author of the books “Out of the Cubicle and Into Business” and “One Great Idea!” Boasting more than 20 years of experience in operational leadership in Fortune 500 and Global 100 companies, including Ford, Solectron and Newell, Strickland is a sought-after public speaker and thought leader, regularly leading workshops and presenting at a wide range of industry events. For more information, visit www.technovationentrepreneur.com.