Who We Are
At EconWerx, we specialize in identifying and amplifying your Locus of Relevancy - the unique combination of assets and strengths that set you apart. By focusing on these defensible assets, our expert team, with deep experience in global startup ecosystem development, builds the robust infrastructure necessary to accelerate innovation.
We don’t just stop at identifying what makes you unique. We create tailored strategies and programs - whether it’s through university initiatives, corporate innovation efforts, public policy, accelerators, or capital vehicles - that enhance the quality and speed of innovation. This comprehensive approach ensures that the innovations we support aren’t just ideas; they are catalysts for substantial economic and societal progress.
3 Pillar Methodology
Building the Innovation Economy: Pillar #1 Problem-Solution Fit
At Econwerx, we believe that successful innovation starts with a deep dive into the real-world problems that need solving. We've seen that the path from a great idea to impactful change is full of twists and turns, and the biggest challenge often lies in making sure you're solving the right problem from the start.
In our experience, many innovators get caught up in the excitement of a breakthrough idea - what we call the "eureka moment." But at EconWerx, we know that an idea, no matter how brilliant, won't make a difference unless it's rooted in a genuine need. That's why our approach focuses on what we call "Loving the Problem." We don't just look for quick fixes; we dig deep to understand the problem from every angle, ensuring that the solutions we develop are truly meaningful and impactful.
Through years of working with startups, corporations, and institutions, we’ve honed a strategy that emphasizes Problem-Solution Fit as the foundation for any innovation. Before jumping into building solutions, we work closely with our partners to uncover the core issues that need addressing. This approach not only saves time and resources but also leads to innovations that are more likely to succeed because they are designed to meet real, pressing needs.
At EconWerx, our process is more than just applying a set of tools or following a trend; it’s about truly connecting with the problem holders, understanding their challenges, and aligning our solutions with their needs. This early focus on Problem-Solution Fit is what sets us apart and lays the groundwork for building strong, sustainable innovation economies.
When we start with a clear understanding of the problem, the solutions that emerge are not only innovative but also practical and scalable. This approach is the cornerstone of how we drive change and make a lasting impact.
If you want to learn more about the science behind Problem-Solution Fit, explore some of our favorite resources:
Cultivating the Innovation Economy: Pillar #2 Locus of Relevancy
At EconWerx, we believe that one of the most powerful forces in driving meaningful innovation is something we call the "Locus of Relevancy." This concept refers to the unique combination of assets - whether cultural, intellectual, infrastructural, financial or otherwise - that every organization, region, or entity possesses. These assets, when properly identified and leveraged, play a key role in shaping the broader innovation landscape.
But the Locus of Relevancy goes beyond just cataloging what makes a place or organization unique. It also considers the willingness and desire to engage with the innovation community. Simply having a major industry present in a region doesn’t automatically mean that region will succeed in attracting innovation resources specific to that industry. Real relevancy is created when there’s a demonstrated commitment to work with innovators and foster a collaborative environment. This is where our process comes in.
At Econwerx, we’ve developed a strategy for uncovering the Locus of Relevancy within any given context. Our process involves not only identifying the unique strengths and assets of a region or organization but also assessing their readiness and enthusiasm for engaging with the innovation ecosystem. By ensuring there’s both the right assets and the right mindset, we help create a fertile ground for innovation to take root and thrive.
This approach isn’t limited to startups alone. The Locus of Relevancy influences everything from attracting venture capital to shaping public policies, building public-private partnerships, and engaging large corporations. By focusing on what truly makes each player unique and aligning those strengths with broader innovation goals, we help to strengthen the entire innovation ecosystem.
At Econwerx, our approach is clear: we work closely with our partners to pinpoint their Locus of Relevancy and then strategically leverage it to create an environment where innovation can flourish. This isn’t just about spotting opportunities; it’s about building a sustainable framework where innovation can grow and make a lasting impact.
Understanding and harnessing the Locus of Relevancy is crucial to building a more resilient and effective innovation economy. By focusing on both the unique assets and the desire to engage, we create a strong foundation for long-term success.
If you want to explore the research that has inspired some of our thinking on the Locus of Relevancy, you can check out these resources:
Navigating the Innovation Economy: Pillar #3 Commercialization
At EconWerx, we understand that societal behaviors change rapidly, and these shifts directly influence how industries deploy their resources. This dynamic is the driving force behind commercialization - the process that turns new ideas into products and services that can achieve real impact.
Why does this matter? Because for any innovation to reach the scale needed to make a meaningful difference, it must navigate these commercialization pathways successfully. This is why we dedicate significant time to understanding societal behaviors. These behaviors form the foundation of commercialization trends, guiding us in how we build the infrastructure and programs that support a thriving innovation economy.
By closely monitoring societal shifts, we gain critical insights into the future of commercialization. This knowledge informs everything we do at EconWerx, from developing innovation ecosystems to creating strategies that ensure new ideas have the best possible chance of success. We don’t just react to current trends; we anticipate where societal behaviors are heading, and we use that foresight to design and build ecosystems that are both relevant and resilient.
Our approach ensures that the infrastructure we create isn’t just about fostering innovation—it’s about fostering innovation that matters. By aligning the strengths of the ecosystem with the realities of societal behavior, we help produce programs, policies, and products that are not only meaningful but also positioned for hyper growth.
In essence, at EconWerx, we bridge the gap between societal behaviors and commercialization, ensuring that the innovations we support can achieve their full potential. This approach enables us to build innovation economies that are forward-thinking, strategically aligned, and capable of driving impactful change on a large scale.
If you’re interested in learning more about the research that has influenced our approach to commercialization, you can explore these resources:
Harmonizing the Pillars: Problem-Solution Fit, Locus of Relevancy, and Commercialization
At Econwerx, we understand that true innovation isn't just about solving problems, leveraging unique strengths, or navigating commercialization pathways in isolation. The real power lies in bringing these elements together in harmony, creating an ecosystem where each piece amplifies the others.
Problem-Solution Fit is where we start, ensuring that the innovations we pursue are grounded in genuine needs. But identifying the right problems to solve is just the beginning. The next step is aligning these solutions with the Locus of Relevancy - the unique combination of assets and willingness to engage within an organization or region. By doing this, we ensure that the innovations aren’t just effective but are also deeply connected to the strengths and ambitions of their environment.
However, even the most relevant and well-targeted innovations won’t reach their full potential without a clear path to market. That’s where our focus on Commercialization comes in. By understanding societal behaviors and anticipating where they are heading, we guide innovations through the complex landscape of commercialization. This ensures that they don’t just solve problems in theory but are successfully adopted and scaled in the real world.
The magic happens when these three pillars - Problem-Solution Fit, Locus of Relevancy, and Commercialization - come together. At EconWerx, we weave them into a cohesive strategy that not only sparks the creation of impactful innovations but also ensures their long-term success. By harmonizing these elements, we create innovation ecosystems that are not only resilient and adaptive but also capable of driving meaningful, scalable change.
This holistic approach is what sets EconWerx apart. We don’t just tick boxes; we build a seamless tapestry of innovation that resonates deeply with the needs of today and the opportunities of tomorrow.