Download - Innovation 101 Workshop
Emad Saif Property of Emad Saif© 2013
101
Presented to:
INNOVATION
INNOVATION
Myths
Importance
WHAT IS INNOVATION
Something New Economic Growth
Inventors
Entrepreneurs
Technology
Research Creating Value
Ideas
Money
$
COOL!
Products &
Services
BIG COMPANIES
Art
Culture
“Implementing new ideas that create value”
INNOVATION is …
- Innovation Network, USA
So how is
INVENTION ?
INNOVATION different than
INVENTION Creating
something new (i.e. product/service)
INNOVATION Placing product/service
in a new context to create value
Cycles
Example The Story of the Zipper
• Elias Howe Patent for “Automatic Continuous Clothing Closure”
• Focused on sewing machine invention
1851
• Sundbäck received patent for "Separable Fastener” & manufactured at UFC
• B. F. Goodrich Company used it on its rubber boots & tobacco pouches
• Renamed the device “Zipper”
1917
• Defeated the “button” for promoting self-reliance for children & ease of use
• Zipper started being used in clothes & fashion
1937
• Became a standard in clothing, luggage & leather goods
• Most recent innovation of zippers opens from both ends
Today
• Judson invented “Clasp Lockers” • Walker, a business man helped him build “Universal Fastener
Company” (UFC) & Judson improves design to “C-curity”
1893
Forms of Innovation
Product
Process
Service
Value
Business Model
Market
Types of Innovation
New Market Existing Market
Exis
tin
g Te
chn
olo
gy
New
Tec
hn
olo
gy
Incremental/Sustaining Innovation
Disruptive Innovation
Disruptive Innovation
Breakthrough Innovation
MARKET
TEC
HN
OLO
GY
IMPORTANCE OF
INNOVATION
Economic Growth
Innovation creates economic growth
Creates better products & services
Increases productivity & lowers cost
Improves quality of life
Reduces waste in the environment
Explores new possibilities
Engages employees & unleashes creativity
Incubators &
Accelerators &
Innovation
Centres
GROUP EXERCISE
INNOVATE the PIZZA!
Product
Business Model
Value
Market
Services
Process
Innovate your pizza business using any form(s) of innovation
How it generates revenue?
What’s the idea & form(s) of innovation?
What value is added to customer?
1 2 3
DELIVERABLES:
COMMON MYTHS ABOUT
INNOVATION
MYTH #1: Moment of Epiphany
Accumulated observations and trial & error
WD-40 = Water displacement 40th attempt
MYTH #2: The Lone Inventor
Thomas Edison (1847-1931)
Previous Inventions
Chosen Hero
Invention from inspiration & collaboration
MYTH #3: Method for Innovation
CUSTOMERS
MARKET
PROTOTYPE SUPPLIERS
IDEA
INDUSTRY REGULATIONS
LUCK TECHNOLOGY
FUNDING INTELLECTUAL PROPERTY
MARKETING
INVESTORS
TEAM
TIMING
Innovation is experimental & non-methodological
MYTH #4: All Innovation is Good
Alfred Nobel (1833-1896)
Safer Explosives in Mining War Destruction
Innovation creates value, but to whom?!
MYTH #5: People Love New Ideas
Galileo Galilei (1564-1642)
INNOVATION
Rejection Adoption
• Fear of trying new things • Costly to change • Politics • Time (20+ years)
• Early Adopters • Solves their problem
• Majority of Users • Proven to work
People naturally resist change
LESSONS FROM
INNOVATION
Innovation offers value to customers in return for a reward
Innovation needs collaboration
Innovation takes time
Innovation needs hard work
Innovation faces rejection
Innovation needs love & faith
Innovation brings hope
“Never doubt that a small group of thoughtful,
committed people can change the world.”
Margaret Mead
