As a top technology incubator, Gwinnett Innovation Park has been home to more than 75 companies, most of which had their hand in some type of disruptive technology. Currently ControlByNet is offering cloud hosted IP video surveillance that has made analog security surveillance obsolete. Wi-Ex, the makers of the zBoost line of cell phone signal boosters has allowed many home and business owners to drop the cost of a landline.
The following Forbes article by Gary Shapiro illustrates disruptive innovation and how central it is to America’s entrepreneurial culture.
America is Innovation Our nation is better because we create better. We innovate. We try new things. We risk failure. But when we fail, we pick ourselves up and we try again. We create new business models and they succeed. And then newer models come along and destroy them.
One example is television broadcasting, which blossomed for years until cable TV came in and quickly took market share. Then satellite was launched, and it stole some of cable’s share. Now fiber and wireless networks are delivering broadband entertainment to millions of Americans.
The same happened for retailers. Walmart, Target, Best Buy and RadioShack became destinations for Americans wanting a great deal. But then Amazon and eBay created new business models and enticed many of those same Americans away from the shelves to their computers.
These examples illustrate disruptive innovation and how central it is to America’s entrepreneurial culture. Critics may claim that disruptive technologies hurt certain businesses and industries, but the reality is that “creative destruction” drives the market, displaces older technology or ideas with the new, and offers consumers value they didn’t dream up yet.