The future of manufacturing looks bright. New innovations, the rise of the entrepreneurial age, and the internet of everything will drive product development & manufacturing growth. Listen to what Peter Diamandis had to say in a recent article featured in Inc.
“The ability to build a business has gotten easier and cheaper. And the ability to create a product or service and quickly scale it to a million–or a billion–consumers is something that’s possible today that wasn’t possible even a decade ago. Today, entrepreneurs have access to technologies that were once available only to large organizations or governments. Plus, entrepreneurs now have access to a huge amount of capital–from VCs and the angel community as well as crowdfunding, which is expected to reach $15 billion in 2015. I think we’re going to see an explosion in entrepreneurship, an explosion in innovation. That, to me, is why this next decade is extraordinarily exciting.”
Maker spaces, cloud / subscription based software tools, and crowd funding have given small businesses & startups the opportunity to innovate & disrupt different industries, but the challenge is bringing the right talent together. It is rare for a single company to have all the required engineering & manufacturing capabilities under one roof, so many companies have opted to outsource engineering & manufacturing functions to remain competitive. In 2008 I witnessed more and more talented engineering & manufacturing workers pick up freelance work out of necessity. Multi national company lay offs, offshoring product development / manufacturing, and in some cases maintaining corporate profits lead to the loss of jobs. Local economies were devastated and to understand why we can turn to the Bureau of economic analysis which has said that manufacturing has a larger multiplier effect than any other major economic activity. $1 spent in manufacturing generates $1.35 in additional economic activity.
Going out On a Limb…Joining the Future of Manufacturing, Innovation, and the Age of Entrepreneurship
This inspired me to take action and find a way to reinvigorate manufacturing while still allowing small businesses & startups to remain competitive financially. I created Assist 2 Develop to empower local economies by bringing freelance engineering & manufacturing professionals together with small businesses to create and manufacture the innovative products we all love and use every day.