Stony Brook College of Business Innovation Center News
06

Innovation requires the combining of Invention, Investment, and Entrepreneurship.  This trilogy was introduced to lower division students in Mechanical Engineering class of Professor Unrag Purwar on Sept 28 and Tech and Society class of Professor Lori Scarlatos on October 18.

The hour lecture by Professor Gerrit Wolf of CoB and Director of Innovation Center in Frey Hall led off with a four-minute video, available on YouTube, of Professor Hans Rosling graphically showing the growth of wealth and health in 200 countries over two hundred years. He showed the effects of the industrial revolution were wide spread.

The industrial revolution started in northern England because of the flourishing of inventors like Watt’s Steam Engine that solved mining, transportation, and energy problems.  investors who in today’s terms were Angels and Venture Capitalists with low regulation funded the innovations. Entrepreneurs such as Wedgewood linked mass production to mass marketing. It was intellectually supported by Scottish Professor Adam Smith’s Wealth of Nations, in which he argues that division of labor brings everyone more wealth through the invisible hand of the market.

  The revolution continues today with startups in Silicon Valley, Corporate R and D and Investment, University incubators, Open System models like Wikipedia and WWW, and Federal Labs and STTR grants. It also continues worldwide because of the trade of innovative products and services from many countries. The more innovation within and across countries, the healthier and wealthier people become. 

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Stony Brook University Innovation Center, Stony Brook, NY 11794-3775

Phone: 631.632.7171
Fax: 631.632.8181