Innovate NY

Garrick and Panelists Innovate NY is a partnership between The LEVIN Institute and the New York Academy of Sciences exploring the city’s potential to become a global leader in innovation across sectors.

There is no doubt that New York City is innovative. World-class theater, entertainment, fashion, and art all testify to the creative fiber of New York. But when people think of innovation, they think of advanced technologies, and of places like Boston, Berkeley, and Silicon Valley. So why does New York not feature prominently on the map of science and technology innovation?

New York is already a capital of innovation, but nowhere near where it could be, given its strengths. It is a global city, with a diverse blend of culture, vitality, and extraordinary talent. The city is a well-known international hub of finance, media, arts, and entertainment. But the wealth of science and technology talent and innovation is less apparent, at least in the form of a thriving technology economy.

In June 2008, the Levin Institute and the New York Academy of Sciences cosponsored an event on Innovation in New York to discuss where New York stands relative to its competitors, and identify approaches that could capitalize on New York's strengths, shore up its weaknesses, and plant it firmly on the map as a capital of innovation. One conclusion reached by participants at that event was that the strong connection between the financial world/investors and high tech innovators that is found in Silicon Valley, and elsewhere, is lacking in New York. All agreed there is a pressing need to look deeper at certain aspects of innovation in the city, and to further explore New York's potential as a global leader in innovation.

The Alfred P. Sloan Foundation then funded an Innovate New York series of panel discussions. They were co-organized by the Levin Institute and the Academy to examine the role of innovation in such diverse areas as finance, media, services, life sciences, and arts & culture. Leaders in science, technology, finance, media, and business provided a cross-section of experiences and perspectives on the opportunities and challenges facing the city.

Levin’s president Garrick Utley moderates the sessions. He shares some thoughts on innovation in New York:

There was a time when a person could be admonished with the words, “don’t just stand there...DO something”. Today the equivalent phrase is, “don’t just stand there...INNOVATE!” Innovation is seen as the indispensable path ahead to compete and prosper in today’s global economy. But how much innovation are we seeing in New York City today? There is certainly abundant energy in the city along with creative talent. There is money too to be invested. But meaningful innovation usually requires more than any one of these individuals factors. It is when energy, talent and funding are harnessed together that truly effective innovation is achieved.

Innovate New York was conceived as an ongoing series of discussions on New York City’s ability to mobilize and better utilize its creative, intellectual, financial and other resources to maintain its competitive position in today’s global economy. Launched in 2008 with the generous support of the Alfred P. Sloan Foundation, and in collaboration with the New York Academy of Sciences, Innovate New York is a response to the concern of many informed New Yorkers that the City has not been as innovative as it could, should and, indeed, must be.

The initial discussion event was entitled, “Is New York a Center of Innovation?” It was followed by other discussions focused on particular fields. At each of these sessions experienced figures in these fields offered their expertise, and then engaged in often spirited discussions with other participants. Although the subjects ranged wide, common themes emerged as you will see in the following summaries. For this publication we invited the three speakers at the first Innovate New York session to offer their thoughts and draw the lessons of New York City in the arena of innovation.

We all share the romantic image of the solitary inventor achieving a “Eureka!” moment of insight and creativity. But innovation is not invention. It is building and improving on what others have created before. It is usually the result of many individuals working together (and sometimes not together); each one having his or her own little “eureka” moment.

As the moderator of the sessions, I have felt humbled by the magnitude of the challenges New York City faces, and yet encouraged by the resourcefulness and commitment by the many participants who call New York City home. We look forward to engaging with you as we move ahead with the next phase of Innovate New York.