We believe Alberta has many of the pieces and components needed for a thriving digital media ecosystem. The key will be developing a strategy and approach that will bring these components together as a unit. We have identified a set of ten guiding principles that will be used in developing this strategy.
A shared roadmap is needed.
The industry is fractured. But that doesn't mean that it doesn't have all the pieces in place. What we need is a shared vision for the industry to align all industry members and stakeholders and their respective programs and initiatives. This industry led action agenda will provide the common framework towards a shared vision. This includes identifying key roles and value propositions within a digital media value chain provincially, nationally, and internationally.
The value chain is the guide.
A value chain is a string of companies or players working together to satisfy market demands for a particular product. We need to more clearly define roles and capabilities within the value chain including financing, strategy, creative, development, technology, marketing, and distribution. By understanding these roles, we can key on high value components to develop in Alberta, and identify gaps that can be filled by regional partnerships.
Small has big advantages in this industry.
In an industry where over 70% of companies are considered small (2-35 people, annual revenues under $1M) why not use this to our advantage? We need to create an ecosystem where small teams have the opportunity to make big things happen. Use large companies to provide anchor capacity within the ecosystem, and use small companies to provide agility, flexibility, and focus on high value components within the digital media value chain. Build companies that focus on innovation, value, quality, and efficiency. Companies that do more with less and companies that do more will attract larger companies.
Cultivate innovation, not competition.
Cash flow often becomes the bottleneck to unlocking true innovation for companies. So they focus on lower risk fee-for-service work. We need to create an ecosystem where opportunities for innovation exist leading to the creation of more Alberta-based creative and technical IP (intellectual property). Support the ecosystem by encouraging shared methods, business models, and networks. Offer structured methods for collaboration within industry, outside industry and across industries. The result will be an ecosystem focused less on competition and more on innovation.
Breed smarter customers.
So much time is lost by companies as they convince and introduce awareness of opportunities to customers and investors. All this lost time could be spent creating and innovating. This breeds an unhealthy ecosystem where method and cost rules over innovation and quality. We need to create an ecosystem that includes smarter customers and investors that already understand value, opportunity, and best practices. This means sharing common methods, approaches, opportunities, and best practices between industry, outside industry and across industries.
Create thinkers, not just doers.
There are currently two key issues related to skills and training in Alberta. Over 70% of companies identify the need for more blended and management resources in industry. In an ecosystem where innovation and commercialization is the end goal, we need more thinkers and creators rather than doers and suppliers. The other issue is streamlining the currently disruptive transition from education into industry. In an ecosystem where small companies need the best resources available to add to their teams, how can we better support these types of resources and mentor them so they are industry-ready?
Empower industry.
It's not like we're building an industry from scratch. In fact, we have a lot to build on. However, it is still an emerging industry in Alberta that needs more credibility. We need to know who's out there, who's doing what, and who's successful in order to showcase Alberta industry on the international stage in a coordinated effort. This includes involving key members in championing industry and participating in program delivery in meaningful ways.
Harness available resources.
There are already an existing range of potential resources and programs available across Alberta designed to assist individual firms and industry sectors. These include investment, commercialization, export, trade, business development, network, and research programs that exist provincially, nationally and internationally. Using the value chain as a guide to these programs, companies are able to take advantage more effectively.
Less money, more value.
Funding doesn't make a better industry. On the other hand, funding does make a better industry. Smarter allocation and investment of funding into specific initiatives, projects, and companies makes more sense if the end goal is innovation and commercialization. It's important to match up the right funding to the right opportunities and the right stage of development in order to demonstrate maximum value to investors and financing partners. This builds credibility for the industry and has the potential to attract smarter investments and creates better projects.
Grow community and industry will rise.
Fostering a digital media ecosystem in Alberta is an exercise of strengthening “community” rather than building industry. This community includes not only companies, but also everyone who impacts digital media and is impacted by digital media. Members of a healthy community share information, pool resources, collaborate, and avoid duplicating effort in order to grow as a unit. Each member also takes on one or more meaningful roles in developing the community as champion, builder, collaborator, connector, energizer, navigator or mind opener.
