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Is it time for Canada to dive into the "Blue Ocean" thinking?

 
Dr. Kim Chan

Dr. Kim Chan

This week, MaRS hosted prof. W. Chan Kim of INSEAD (one of the world’s leading and largest graduate business schools, who also co-founded and co-directs the INSEAD Blue Ocean Strategy Institute) on his first official visit to Canada and his introduction to MaRS.

For the uninitiated, Blue Ocean Strategy is the systematic pursuit of new market and new demand creation through the simultaneous pursuit of higher value and lower cost. It is called Blue Ocean because of its focus on creating unknown market space where you do not compete head-to-head against the competition but rather out-compete them by creating new markets where no competition exists.

The current tumultuous global economic environment was a hot topic during the reception. Is there a unique opportunity for Canada, and how can we capitalize on it?

Dr. Chan Kim, the “Admiral of Blue Ocean Strategy” seems to think that this is indeed the case. The Canadian economy is hurting, but not nearly to the extent of other developed economies, such as USA and Europe (Bloomberg: Canada – World’s Best Financial System). As such, at present we are uniquely positioned to take advantage of opportunities in the shifting global markets. All we need to do is to be precise about connecting a few great product ideas to markets and get the right people to pilot these innovative companies.

MaRS has already built the enabling infrastructure, which places us right at the gate. The same way as a Cirque de Soleil became a symbol of Canadian creative talent in the eyes of the world, MaRS is well positioned to be a launch pad for future global enterprises stemming from Canadian innovators.

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  • http://www.scansite.ca Tony Patterson

    A magnet for tech dreams and money

    Toronto, as you say, is an ideal launch pad for Canadian innovation. This is because Toronto is pumping at the heart of a mega-region that boasts 250,000 tech workers, 6,000 tech companies and 30 colleges and universities brimming with tech talent for today and tomorrow. Toronto is where insulin was first imagined and made, where the electron microscope was developed, where there is the largest medical and biotech cluster of any metropolitan area in North America and the third largest concentration of private ICT companies after San Francisco and New York.

    The centre holds.

    Yet less than a decade ago all the talk along the Ontario Technology Corridor was of JDSUniphase and Nortel, both ablaze in Ottawa. Today it’s RIM and OpenText, both in Waterloo.

    For half a century Ottawa’s National Research Council, with a Nobel and other international prizewinners on staff and more prizes than their cases can display, including an Academy Award, carried the flag for Canada’s science and tech smarts. Today it’s Waterloo’s Perimeter Institute that captures global imagination as a new knowledge heavyweight and gets Stephen Hawking, the best known physicist since Einstein, as visiting scholar.

    When the lights dim at one end of the corridor, they brighten at another.

    No place along the Ontario Technology Corridor is distant from any other. All are connected not only by the ubiquitous electronic highway but also by a physical network of fast trains and autoroutes. Engineers, geeks and academics in one locality know their counterparts along the corridor. Companies of size often have operations in two or more campuses along the corridor. With homes in both Waterloo and Ottawa, RIM is also in Mississauga and OpenText in Richmond Hill and Kingston.

    The Ontario Technology Corridor should be for Canada what Silicon Valley is for the United States — a magnet for tech dreams and money. (It’s not always appreciated that there are 16 separate cities sharing the Silicon Valley spotlight with Palo Alto and San Jose, and another half dozen, such as Redwood City and Gilroy, often associated with it.)

    The Ontario Technology Corridor embraces all, is non-threatening to any and, with its stretch and size and strength, is inherently more stable and has great potential as a tool for branding, international marketing and improving connection and collaboration among all the tech clusters from Ottawa (even Cornwall) to London (even Windsor).

    This is an idea that can inspire cooperation, collaboration and collective action to help bootstrap the tech startup community. It’s an idea with far greater value than cost. It’s one of the best kinds, an idea that fits the times.

    Ontario wants to promote its knowledge sector. It must therefore celebrate its technology corridor, which is a reality even if few people know it.

  • http://www.giantstep.ca Gil Katz

    I think it’s a great new package for a very old idea.

    One of our clients is using the Blue Ocean Strategy in the launch of a new product line. They are called Clean Freak Patrol, and you can read about them on KidScreen Magazine at http://www.kidscreen.com/articles/magazine/20080601/charting.html

    Cheers,

    Gil

Veronika Litinski @ MaRS

Veronika Litinski @ MaRS

Veronika Litinski provides advisory services to entrepreneurs and high growth companies, with a special focus on life sciences markets, specializing in corporate finance and business development.

 
 
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