Innovators and Entrepreneurs in a Wellbeing Economy

TL;DR

The innovation process is evolving in a wellbeing economy, leading to changes in the characteristics of successful innovators and entrepreneurs. The co-creation, co-design, and co-production of value are shaping the wellbeing economy, requiring new narratives and collaboration. The transformation to a wellbeing economy requires policy innovations, participatory approaches, and a focus on impact and connection to people's livelihoods. Metrics for measuring the impact of wellbeing entrepreneurs need to be developed across market sectors.

Transcript

• Welcome everybody to the next lecture in my series of Innovation & Entrepreneurs in a Wellbeing Economy. And the reason I really would like to talk about this is because there's a presumption that somehow as we move through these different waves of ideas about what society needs and how things are going to change, that somehow the people will cha... Read More

Key Insights

• 🥺 The innovation process is evolving in a wellbeing economy, leading to changes in the characteristics of successful innovators and entrepreneurs.
• 🥶 Co-creation, co-design, and co-production of value are shaping the wellbeing economy and require new narratives and collaboration.
• 👯 Successful innovators and entrepreneurs in a wellbeing economy prioritize problem-solving for people and the planet rather than financial gain.
• 📈 Livelihood impacts and the influence of innovations across market sectors should be measured using appropriate metrics.
• 🫡 Policy making plays a crucial role in advancing the wellbeing economy, and education reforms that encourage collaboration, inclusivity, and respect are needed.

Questions & Answers

Q: What are the characteristics of successful innovators and entrepreneurs in a wellbeing economy?

Successful innovators and entrepreneurs in a wellbeing economy need to be focused on solving problems for people and the planet, rather than solely pursuing financial gain. They should be flexible, resilient, and contribute to the health of the planet and communities.

Q: How can metrics be developed to measure the impact of wellbeing entrepreneurs in different market sectors?

Metrics should focus on both livelihood impacts for local communities and the influence of innovations across sectors. By understanding the tentacles and fingerprints of innovations, it is possible to measure their impact in multiple industries.

Q: What is the role of policy making in advancing the wellbeing economy?

Policy making should prioritize education reforms that encourage collaboration, inclusivity, and respect. Anticipatory regulation should be implemented to ensure that innovative ideas and entrepreneurs can thrive while protecting the wellbeing of people and the environment.

Q: How can good ideas overtake existing ones?

Good ideas can gain traction by being transparent, involving communities, and demonstrating their positive contributions to society. Society needs to have conversations about the benefits and drawbacks of existing ideas and be open to change based on evidence and knowledge.

Summary & Key Takeaways

• The innovation process is changing in a wellbeing economy, leading to differences in the characteristics of successful innovators and entrepreneurs.

• The wellbeing economy is shaped by the co-creation, co-design, and co-production of value, which requires new narratives and collaboration.

• The transformation to a wellbeing economy requires policy innovations, participatory approaches, and a focus on impact and connection to people's livelihoods.

• Metrics need to be developed to measure the impact of wellbeing entrepreneurs across different market sectors.