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Read About LIDAR SPACs, the Talent Shortage, Special Events, New Reports, and Other Noteworthy News, Opinions & Opportunities
In this Issue:
Recently, you may have noticed that several companies making LIDAR systems were listed on publicly-traded stock markets, specifically the NASDAQ and New York Stock Exchange. Already five companies have gone public in this manner since a year ago, with two more expected soon (Aeye and Quanergy). In addition, three other companies have announced plans to go public in other optics-based products: Rockley Photonics (in integrated photonics), IonQ (in quantum computing), and Velo3D (laser-based additive manufacturing). They are all using SPACs—special purpose acquisition companies—as the route to enter the public stock market (see here and here).
Another factor to the declining prices may be the sudden rush of LIDAR companies to the stock market. At an OIDA workshop just a couple of years ago, there was talk that there were nearly 100 companies making LIDAR equipment for driverless cars. It was clear even then that not all of them could survive the inevitable shakeout, but what wasn’t clear was which ones would survive. The companies recently listed on the stock exchanges are survivors, and a few of them help validate the opportunity to investors. In addition, investors in the remaining privately-held LIDAR companies must be considering that it may be better to take advantage of easy money from SPACs while it lasts. However, too many companies going public can dilute interest in the segment. The Other Supply Problem Needs Champions—for Talent Everyone talks about workforce development, but does anybody do anything about it? Mark Twain didn't say that, nor did he likely coin a similar phrase about the weather. But it summarizes one of the major challenges of our industry: we have a talent shortage, but what can we do about it?
Universities and community colleges are the primary sources of new talent, and graduates are arguably their most important output, more than research. While companies complain that graduates are too inexperienced in the ways of manufacturing and business, it is the only way to bring in new talent, and companies have to expect to do some on-the-job training. But that doesn't seem to be enough. Students today are interested in topics like computer science and environmental studies, or topics outside of STEM altogether, like business and law. Government agencies can fund specific projects, but how do you motivate students to study optics? There is also the diversity challenge: how can we grow and support a more balanced workforce?
What we can do is find and support more champions; that is, advocates. A champion is the high school teacher or community college instructor who creates a small program to train students for local jobs. A champion is a company that commits to support interns in summer jobs. Local cluster organizations can help by using their connections between local colleges and companies to ensure that the pipeline doesn't dry up. Clusters can also lead efforts to increase local funding for programs in optics and photonics, such as for instructors, lab equipment, and co-funded internships. There have been several recent events and reports addressing the issue, too many to list here. OSA is part of much of it, such as the following:
OIDA last wrote about workforce development in the March 2021 issue of the OIDA newsletter.
Summer Reading Material Available to OIDA Members
Taking a break to enjoy the summer? If you need something to read at the beach, by the pool, or just away from your desk, check out the latest OIDA Market Update reports available to you as an OIDA Member. OIDA Members have exclusive—and complimentary—access to OIDA Market Update reports.
OIDA reports are available to all employees of OIDA member companies who selected the Market Intelligence & Advocacy benefit category. We encourage you to browse the OIDA Publications and Reports Center to see everything available to you. OSA Laser Congress and Exhibition Confirms Virtual Format
The OSA Laser Congress has announced it will convene in an interactive, all-virtual format, 03-07 October 2021. The Congress is comprised of two topical meetings, the Advanced Solid State Lasers Conference and the Laser Applications Conference. This format, which includes technical sessions and a virtual exhibition will expand engagement with the event's global audience through live and on-demand content. The time zone for the Congress schedule is Eastern Daylight Time Zone (EDT, UTC-04:00). Learn more and participate from the safety and convenience of your home or office. Recognize Contributions to Fiber Optic Technology
The deadline to nominate a colleague for the 2022 Tyndall Award, is approaching. Please take advantage of this opportunity to recognize those making outstanding contributions in any area of optical-fiber technology, including optical fibers themselves, the optical components used in fiber systems as well as transmission systems and networks using fibers. This award is co-presented by OSA and IEEE Photonics Society and supported by Corning Incorporated. Recognize Contributions to Quantum Optics and Atomic Physics
The deadline to nominate a colleague for the 2022 Walther Award, is approaching. Please take advantage of this opportunity to recognize those making distinguished contributions in quantum optics and atomic physics as well as being leaders in the international scientific community. This award is co-presented by OSA and Deutsche Physikalische Gesellschaft (DPG). Support for the award is provided by Toptica Photonics AG and Messe München International - LASER World of PHOTONICS. New Digital Programming Available Live and On-Demand
What are your optics and photonics interests? Our digital library has something for everyone. OIDA management and OIDA members have produced a series of webinars and virtual Technology Showcases that are available at no charge. Our curated playlists feature global thought leaders, optics and photonics pioneers and industry icons, offering actionable advice, information and inspiration. We encourage you to browse our growing list of upcoming events and view on-demand recordings as they become available. And there is much more! Check out the OSA We Are On webpage for more high quality webinars on career development from the OSA Foundation and the OSA Career Lab. Invitation to Join the OIDA Optics and Photonics Industry LinkedIn Group Join 4,000+ of your colleagues in our OIDA Optics & Photonics Industry Network LinkedIn Group. This one-of-a-kind Forum for Industry lets you participate in discussions about cutting-edge issues. Extend your professional network. Exchange information about problems, ideas and solutions. Collaborate with experts in your field. Now is the perfect time to build a relationship with fellow optics and photonics professionals!
Questions or Suggestions about OIDA Member Benefits? We are committed to ensuring the value of your OSA Industry Development Associates Membership, so please email OIDA if you have any suggestions for new programs or comments on your membership.
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