Jim McKelvey Discusses Innovation and Inequity During the Danforth Center’s Virtual Conversations Event
Jim McKelvey, among other things, is a St. Louis native, serial entrepreneur, philanthropist, glass-blower, and author of a new book, The Innovation Stack. At the Danforth Center’s virtual Conversations event on October 15, he inspired and entertained the audience with a discussion of innovation, inequity, and how St. Louis can be truly great.
Speaking with the moderator of the event, Natalie DiNicola, Benson Hill chief of staff and Danforth Leadership Council member, Jim told the story of how he came to write a book in the first place. It all began after Square, the mobile payments company he co-founded, was able to fend off competition from one of the most powerful companies on earth, Amazon. When they knew they had won, Jim was baffled, and he wanted to understand how they had managed to do so. After doing some research, he found a series of companies that had accomplished similar feats, and saw a pattern. “Most of the businesses you see are successful because they are replicating a formula,” Jim says. “But the pattern I was seeing only applied to people who started without one.”
Benson Hill Chief of Staff Natalie DiNicola interviewed serial entrepreneur Jim McKelvey as part of the Danforth Center’s virtual Conversations series.
Natalie pointed to the surge of investment in agtech during the last three years as evidence that even traditional sectors have been impacted by tech. Jim said that while innovation is not limited to a certain kind of business, being innovative is not something you can simply decide to be. “Most of the people we know as great innovators did not intend to be innovators. They were forced to be one,” he said. “If you find yourself in a position where you can’t copy what’s been done before, only then are you forced down this weird path known as innovation.”
There is an interesting set of rules that apply only when you’re doing something completely new.
Jim McKelvey, serial entrepreneur and cofounder of Square
“A hotspot for excellence”
During the event, Jim McKelvey discussed his relationship with the late William H. Danforth, who he admired throughout his life. “I grew up almost worshiping him,” he said. Jim’s father, who was dean of Washington University’s College of Engineering, worked with him for many years during Dr. Danforth’s time as chancellor, a position he continued to hold during Jim’s years as a student there.
Dr. William H. Danforth, founder of the Donald Danforth Plant Science Center
Jim also discussed the impact Dr. Danforth had on St. Louis through his creation of the Danforth Center. As Jim pointed out, because of the many ag-tech organizations and resources that already were established in St. Louis, Dr. Danforth “bet on a strength that would be difficult for other cities to replicate,” and was able to create a “hotspot for excellence” in the region.
“I wish there were 50 examples of the Danforth Center around town,” McKelvey said.
Disparity, Hope, Investment
Several years ago, Jim gave a presentation discussing segregation and inequity in the St. Louis region. He then presented some concepts for how these problems could be solved. One of those ideas eventually came to fruition at the nonprofit he founded. LaunchCode provides free coding education, mentorship, and job placement for people of all backgrounds looking to start a career in tech. It is a concept no other city had ever tried, and a kind of development he hopes to see more of in the city. “I think if we could be at the vanguard of addressing [inequity] through very novel ways that could catalyze a rebirth in our town.”
Jim ended the evening by discussing the importance of investing in new, innovative concepts. He encouraged those with the financial means to help bring projects like these to life, to do so. “If it fails, you won’t be hurt,” he says “But if it does work, you could massively increase the impact you have on the world.”
Advancing the Mission
At the Danforth Center, our work is dedicated to improving the human condition through plant science. We prioritize innovation in order to speed discoveries to market and into the hands of people who need it most. Our campus and the 39 North innovation community it anchors is growing and attracting new companies, and promoting the economic development of our region. If you’d like to support the work of the Danforth Center, click here to make a donation today.
Watch the Event
Media Sponsors
For information on sponsoring virtual Conversations, contact Isabel Acevedo, Corporate and Foundation Relations Coordinator, at 314.324.5401or iacevedo@danforthcenter.org.