The future of economic prosperity and societal progress will increasingly depend on society’s ability to translate discoveries into impacts.
Today, artificial intelligenceMachine learning and other forms of technological development dominate not only academic but also economic spaces, providing unique opportunities for inventors and entrepreneurs seeking to shape the future of innovation at a societal level.
Institutions such as the National Academy of Inventors (NAI)a nonprofit organization created to recognize inventors and build the ecosystems needed to move ideas from the lab to the market, plays a key role in supporting this movement.
National Academy of Inventors
Why science and economics need each other
Research conducted by academic institutions like universities is often considered secondary to economic development because it pursues scientific knowledge for its own sake rather than explicitly supporting profitable efforts and initiatives.
In reality, however, the work of inventors and scientists is often practical in terms of real-world impact. The reason policymakers and investors tend not to see them this way is that these inventors often lack the support structures necessary to translate their discoveries into marketable advances.
Science communication is more important than ever for this reason, and that’s why organizations like NAI work to effectively communicate why science efforts are important in the context of social and economic development.
Sometimes, for example, scientific communities recognize the value of their work but have difficulty translating this value into the commercial context. For entrepreneurs who know how to translate this value to the right audience, partnering with relevant universities and inventors could prove helpful for all parties involved.
The role of NAI in facilitating cooperation
The gap between academics and financiers is one that NAI seeks to bridge by fostering collaboration across sectors and connecting groups that can bridge science and economics.
NAI currently does this through events such as its 15th annual conference, which brings together nearly 500 leaders from academia, industry, government and investors to discuss emerging technologies, intellectual propertyentrepreneurship, research commercialization and the future of innovation.
“Our nation’s ability to lead in the decades to come will depend on how effectively we cultivate invention, accelerate scientific discovery, and translate research into real impact,” said Dr. Paul R. Sanbergpresident of the National Academy of Inventors. “This conference brings together many of the world’s leading innovators and institutions at a pivotal time for technologycompetitiveness and the future of global progress.
The participation of world-renowned inventors, including more than 50 Nobel Prize winners, in the Academy’s fellowship reflects the caliber of leadership and expertise represented within the NAI community.
The end goal of events like this is to make innovation tangible, not only to investors and policymakers, but also to ordinary citizens across the country, creating opportunities for economic growth and workforce development. In doing so, NAI aims to address some of the most pressing societal challenges, particularly those that arise from the lack of scientific communication between entrepreneurs and members of the general population.
Transforming progress through teamwork
Science and the developments that arise from its practice are important, but unfortunately this importance is sometimes lost to those who are not intimately familiar with its underlying theories and hypothetical applications. It’s not the fault of individual innovatorsinvestors or policy makers, but rather systems that determine what societies perceive as valuable.
NAI and organizations like it have been instrumental in combatting these perceptions by bringing together experts from their respective fields to make their case in an environment designed to encourage collaboration. In doing so, society may soon glimpse a future in which economic prosperity and technological leadership thrive on a foundation of inventors and academics working to translate advances into goods and services made accessible to the general public.
