In the next wave of innovation, remember the 3 P’s.
People may feel like they missed out on all of the excitement surrounding the creation of the internet, what Steve Case calls the First Wave of Innovation. He defines the Second Wave as the applications we come to love that were built on top of the internet. And now we come to the Third Wave, which he describes as the integration of the internet into everyday life.
Case sees enormous opportunities to create breakthrough companies that will change how we interact with institutions and products. He sees this Third Wave as having huge impacts on healthcare, education, agriculture, energy, food and transportation.
The key for entrepreneurs will be to understand the importance of partnerships, perseverance and policy, what he calls the Three P’s.
There will be a web of regulations that business people will have to navigate to understand how best to use technology to effect more efficient energy use or how technology can actually help individuals avoid devastating illnesses and long hospital stays.
Partnerships with energy companies and medical experts will be critical. The grocery business and education are also ripe for innovation.
These changes and more are the promise of the Third Wave.
Case believes the innovators who will be successful will master the Three P’s and adopt a different mindset and playbook to make things happen.
This story was a guest column by Kauffman Fellows CEO Jeff Harbach in Entrepreneur. Jeff Harbach (Class 16) is president and chief executive of Kauffman Fellows. He tweets @jeffharbach.