What's Next for Tech Valley?

The Albany Business Review hosted a panel discussion featuring top tech and business experts sharing their thoughts of the growing Tech Valley area, and how it can be fueled to continue to expand. Panelists were impressed with Tech Valley and saw the opportunity for it to build momentum for continuous growth. Three suggestions made during the discussion include: supporting education and mentorship, supporting local entrepreneurs with ideas, and adapting to the culture of risk taking.

When asked what the best environment to create and innovate is, Cavalier responded by stressing the importance of strong mentorship. Supporting and mentoring education will help build a strong future, and mentoring a business will help economic growth in the area. Wozniak agreed and shared his experience of starting Apple with a mentor. Mentors should encourage creative thinking and innovation to help generate ideas for the future.

Supporting local businesses and entrepreneurs is another viable strategy to sustain economic growth in Tech Valley. Investing in new creative ideas will help stimulate those thoughts to grow into something profitable. All businesses begin with a single idea, but investing in those ideas is imperative in turning it into a successful business.

Lastly, the culture of risk taking is a difficult one to adapt, however it is how businesses learn and grow. Trying new things, experiencing failure, understanding the reasoning behind failure, and making the problem work is key to success. Pickett had mentioned the importance of becoming comfortable with thinking “big” and taking on challenging ideas. Schultz advised to be prepared to reinvent and be open to change when an opportunity arises.

Schultz had said during the discussion that he noticed big changes in this area and anticipates many more in the near future. If Tech Valley businesses can invest in education, local businesses and adapt the culture of risk taking to invent new, creative ideas, then Tech Valley is well on its way to continuing a growing vibrant community.