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This site is published by Plastics News, Crain Communications' international newspaper for the plastics industry.
 
Opinion
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Opinion: Innovation is the best engine for growth
By Robert Grace
PLASTICS NEWS EDITOR
 

Grace
In recent weeks, we have been inundated with reports about market meltdowns, layoffs, bankruptcies and recession. It can all get downright depressing.

Which is why I found the day I spent in New York City on October 30 to be just what the doctor ordered -- a healthy dose of inspiration, innovation and optimism. The occasion was a one-day event called The Idea Conference (www.idea08.com) that was organized by Plastics News sister publications Advertising Age and Creativity. One speaker after another provided a glimpse of exactly what will prove to be the best antidote to what ails a sickly U.S. economy -- a robust entrepreneurial spirit, accompanied by vision and a passion to succeed while “doing the right thing.”

This country needs to innovate its way out of the current crisis. As New York Times columnist Thomas Friedman states so correctly: Forget about “Drill, baby, drill”; instead, focus on “Invent, baby, invent.”

What made the event so uplifting was that it reaffirmed that such drive and ingenuity is widespread and well within our collective grasp. The lineup of 13 speakers was eclectic and many had little to do with plastics or even manufacturing. But still, plastics industry executives of all stripes would have benefited by hearing some of the tales told.

The most plastics-relevant presenter there was Tom Szaky, the 26-year-old founder/chief executive officer of the 7-year-old Terracycle Inc., which recycles (or, as they call it, “upcycles”) all sorts of trash into useful consumer products, from flower pots to backpacks. General Motors Corp.’s Frank Weber, vehicle line executive in charge of the Chevy Volt electric “extended range” passenger car, served to remind the 200-plus attendees that Detroit still can be a reservoir for innovative concepts.

Blake Mycoskie and Nicholas Negroponte underscored how organizations can do well while doing good. Mycoskie related how and why he founded TOMS Shoes. Inspired by an encounter with some poor children during a vacation in Argentina, he conceived and launched the company, which gives away and delivers a pair of shoes to a child for every pair it sells. The booming business, founded in May 2006, now commands an enthusiastic army of customers, employees and business partners. It has donated 87,000 pairs of shoes so far, and expects to give away 300,000 pairs of shoes to children in need over the next 12 months. “Giving,” he said, “is a great business strategy.” (Visit www.TOMSshoes.com to participate.)

Negroponte, meanwhile, is founder and chairman of the One Laptop Per Child (OLPC) organization that helped drive the much-reported development of a low-cost, plastics-laden, hand-cranked laptop computer for use in developing nations. Seeing how fast others copied the concept of clever design and mass production to drive down laptop prices to US$350 and below, Negroponte says he now is intentionally leaking his group’s next design -- an electronic book that can double as a laptop. The nonprofit OLPC hopes the exposure will again lead to competitive innovation that ultimately will benefit consumers.

Eric Ryan, brand architect and co-founder of Method, the developer of stylishly packaged, ecofriendly household cleaning products, shared the tale of how he and his roommate turned Method into one of the fastest-growing private companies in America. Ryan considers Method’s stylish plastics packaging to be just another form of good merchandising.

Or take Grant Aschatz, owner of Alinea restaurant in Chicago. Aschatz was driven as a teenager to become a master chef, paid his dues, and together with a partner achieved his dream of creating the best restaurant in America (according to Gourmet magazine). To do so, Aschatz deconstructed and then put back together all the elements of the dining experience. He then applied the same approach to dealing with the devastating news in July 2007 that he was diagnosed with stage four cancer of the tongue. Three doctors advised the 33-year-old Aschatz he would die in six months if he did not have most of his tongue amputated. Instead, the chef researched alternative treatments, persevered and for now at least, has been given a clean bill of health.

Other presenters included an architect; a Nike vice president; a “mashup” music producer; and the founder of a firm called Etsy, an online marketplace for all things handmade.

Bottom line: Creativity, hard work and a strong desire to improve products and the world in general has fostered not only a spirit of humanitarianism, but also led to the creation of some very successful businesses. Invent, baby, invent! Now that’s a good idea.


Robert Grace is Plastics News editor and associate publisher.



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