Since the emergence of Silicon Valley, cities and countries worldwide have been attempting to match its success with innovative high-growth companies. Apple, Google, Facebook and others not only fueled an economic boom regionally but also spurred global growth of the innovation economy.
What does it take to create an environment where entrepreneurship and innovation can flourish ? Why are some places better at creating them ?
Fostering Entrepreneurship is complex enough – and promoting it adds a tricky collaborative layer, an “entrepreneurial ecosystem.” This framework allies investors, government and educational institutions, industry associations, corporations and entrepreneurs themselves in a dynamic and interdependent relationship. This network of relationships is often referred to as an ecosystem.
Three critical factors in fostering an entrepreneurial ecosystem:
Entrepreneurs lead the ecosystem;
An openness to new members and ideas;
Affordable spaces where entrepreneurs can live, work and congregate
As internet connectivity stretches across Africa, Latin America and Asia, new regional centres for innovation and entrepreneurship continue to emerge. These regional centres are key as they offer economic development opportunities in local markets.
Based on the framework outlined above, this report examines three very different ecosystems: the start-up scenes in Johannesburg to Cape Town (South Africa), Bogotá (Colombia), and the small but innovative city of Malmö (Sweden).
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YouTube is Rewriting the History of Television
Theories on the future of TV abound. In many, YouTube looms large as a threat: “We’re the new TV, because we’re nothing like TV,” was its message to advertisers in 2013.
The online service launched in 2005 certainly has what it takes to replace traditional TV: a huge user base, an audience largely made up of sought-after Gen Zers and Millennials (both of whom have already abandoned traditional media), and a significant leg-up on traditional networks and cable operators in terms of IP video use and The Cloud.
Even more important, YouTube’s dominance is worldwide: 80% of all views and close to 50% of all advertising revenue come from outside the US according to 2015 numbers.
Twenty-first century TV can be seen on a myriad of screens that look nothing like the original cathode-ray tube, adapt to the viewer’s convenience, and broadcast in any and every kind of situation. But the word ‘television’ still has the same basic connotation: moving image production, broadcasting, and public reception.
YouTube has been butting heads with traditional TV since day one, infuriated that its copyrights were being exploited without permission. Ten years of complaints and legal wrangles later, along with YouTube’s systematic removal of copyright material, the two now maintain a relationship that’s still a bit shaky but providing mutual benefits.
So is YouTube really the new tube? Not necessarily, but TV will no doubt evolve according to YouTube’s rhythm. TV will still remain a concept that reunites the three basic ideas – audiovisual content, broadcasting and public reception – but the very nature of the content, the way it’s created, produced and financed, and, most importantly, the ways it reaches its audience are being radically transformed.
It’s from this perspective that we take a look at 3 key aspects of the YouTube phenomenon: content, financing, and the new creators.
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Morphing into a global culture?
In our study The Digital-Only Media Consumer, we contemplated the impacts of the Internet on the content industry, in a virtual world with poorly defined national borders and a global market dominated by powerful U.S. interests.
The question we asked was this: Will the digital consumption of cultural products eventually lead to a decline in cultural distinctions and to greater homogeneity on a global scale?
A 2014 survey of young consumers aged 18 to 34 living in 10 countries revealed that Millennials appear to be spreading a new form of global culture through their online connections. Some 70% of respondents felt that technology had made the world a smaller place, and many of them chose to use the expression “globally connected” to describe their generation.
This feeling of connection resonates particularly deeply with them in areas related to entertainment, world issues and sporting events.
Underlying their capacity to make the most of this connectedness is a digital ecosystem composed of a complex set of technological, commercial, societal and cultural elements. In this section, we will look at three key issues in this regard: accessibility, content acquisition and illegal downloading.
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