Max Polyakov on Core Principles of Current Innovation Development

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We are living in a time when computers are replacing human resources, shops, equipment, and small devices. The so-called “digitization” of modern technologies drives progress in the economy and society. Basically, the process is ruled by ideas that people actively implement through innovations. The latter, in the words of Dr. Max Polyakov, are essential to  grow capital and earn profits.

The managing partner of Noosphere Ventures has been studying information progress in the economy for years. He defines the general practices that can help companies, entrepreneurs, and even countries improve capitalization and ensure economic efficiency.  So, what can help any country become like the Silicon Valley?

First and foremost, it requires investment. Think of it: no Silicon Valley would exist without a favorable financial climate. After all, a lot of money is needed for development. As Dr. Max Polyakov mentioned, people are forced to risk and invest in new concepts without any hesitation. It follows that the generation of novel ideas is the next important hurdle in business. Now, where do new concepts come from and what makes them worthwhile?

It takes a specific mentality to overcome scientific, philosophical, and ideological aspects when implementing problem-solving ideas. Thus, Dr. Max Polyakov says that specialists must incorporate effective innovation management. Not only does it depend on meaningful business practices, but on fundamental ideas as well, which — if not unique — will soon exhaust your budget.

Essentially, innovative development faces a trial-and-error barrier. However, as the managing partner of Noosphere Ventures puts it, the business can overcome the barrier by combining methodology, science, and technology. The works of N. Kondratiev, Sh. Peres, J. Schumpeter, P. Sorokin inspired Dr. Max Polyakov to the idea of an innovation cluster which he finds to be the most successful form of development.

According to his research, some businesses simply rely on the guesswork and schemes like “code and debug.” In order to compete, one must have unique advantages. Since innovation clusters work out principles that solve problems based on the uniqueness approach, it becomes highly competitive. There is a lot of potential for creating innovation clusters in the US or the UK, and Ukraine, as suggested by Dr. Max Polyakov. The large concentration of research personnel and students who are “essential” makes it possible to develop a prosperous information economy.

It is obvious that IT provides the basis for economic growth. Therefore, it is time to move away from heuristic methods and focus on the uniqueness concept that can help to develop a Silicon Valley in every corner of the world.