Nylon, synthetic rubber and the fluorescent light bulb were innovations that came out of the Great Depression of 1930’s. It was these technologies that brought the US out of its deepest downturn ever. These are a just a few examples of how innovation can drive growth, especially so in recession times.
Tom Nicholas of the Harvard Business School wrote last month that “although deep downturns are destructive, they also have an upside. The Depression-era economist Joseph Schumpeter emphasized the positive consequences of downturns: the destruction of under-performing companies, the release of capital from dying sectors to new industries, and the movement of high-quality skilled workers toward stronger employers. For companies with cash and ideas, history shows that downturns can provide enormous strategic opportunities.”
The next blockbuster innovation is any one’s guess, but here at Plantiga we see the perfect opportunity for our technology. Really, we are reinventing a product and service that is extremely useful, and basically indispensable (in footwear and in biometrics). We will drive down the cost of shoes for consumers, making it affordable and environmentally sustainable. It’s times like these where our technology has a real shot at tearing down existing inefficient, damaging practices. We will affect footwear manufacturing and overall function, as well as develop the next generation biometric authentication technology. There has been no better time for us than now.
In no way are we happy with the current economic downturn, but we do see this as a immense opportunity for Plantiga.
Tags: Biometrics, footwear, innovation, Plantiga, Security
January 10, 2009 at 4:03 am |
I like your attitude. The time is now and it is great.