Tiêu đề RIG_Inside Real Innovation Graphic Summary.pdf ✅

Copyright © 2017 Skool of Happiness Pte Ltd. All Rights Reserved. Fundamental Innovations (FINNs) create paradigm shifts that propel long-term growth & prosperity. Incremental Innovations (IINNs) bring faster but smaller improvements and value. We need a full range of FINNs and IINNs for a thriving ecosystem. Innovation aects national economic growth. Beneath the US’ ailing economy is its shrinking innovation pipeline, especially the lack of FINNs. To x the economy, we must x the innovation system. Fundamental vs Incremental Innovations HOW INNOVATION REALLY WORKS BUILDING A NEW INNOVATION SYSTEM Rebuilding the Innovation System FINNs take at least 10-15 yrs, but corporations’ research timeline is much shorter. To fill the 3-10 year gap, we must rebuild the innovation system with 2 groups of inter-related stakeholders. Provide early research for FINN (supplement T with M-I knowledge via interfaces with corporations & experienced innovators).Train innovators via experiential learning (using entrepreneurship education, class projects, innovation projects, and FINN research). Universities: Invest in early FINN research (ideally where the government is also a customer). Create a conducive environment (by upholding the legal frameworks & creating interfaces to improve mobility / flexibility). Governments: Be responsible for acquiring innovation skills and being self-sufficient for the first 3-10 years. Start with an industry job (to gain interdisciplinary skills & T-M-I knowledge) and innovate at the side. Innovators: Learn to properly assess risks by acquiring innovation know-how. Invest only if (a) there’s potential for convergence after the gestation period (5yrs) and (b) the innovators have the necessary innovation skills. Free-market investors: Selectively invest in and cultivate innovations-in-progress in SMEs & universities, with a 3-5 yr timeframe. Recycle internal ideas that didn’t work in the past. Corporations: Nation-State Free Market The US Innovation System: Evolution To rebuild the innovation system, we should understand how it has evolved and where it stands. New age of growth with the presence of all 3 FINN ingredients: Talent, Investments, Environment. Industrial Revolution As competition heats up, corporations shift to outsourcing & IINNs. Seasoned innovators leave to finish their innovation-in-progress via their own start-ups. By early 2000s, the system is good for completing FINNs, but not for developing them. The innovation pipeline was drying up. Entrepreneurial Capitalism Strong FINN, with government research funds, university talents, and interdisciplinary opportunities in corporations. But, FINN capabilities were slowly eroded by job specialization, rigid SOPs & linear thinking. Post-War Era 3 Components Innovation is the process of translating a new idea into a useful form that brings value to the marketplace. It involves 3 essential ingredients. Parts that can be veried precisely & objectively (e.g. algorithms, formulas, devices, etc.) Technology (T) People-related aspects of how the innovation will be used (e.g. benefits, behaviours, prices, etc.) Market (M) What must happen to bring the innovation to life (e.g. production, processes, distribution, business model, etc.) Implementation (I) 3 Enablers for FINNs FINNs are complex and take at least 10-15 years to reach the market. To succeed, 3 key ingredients are needed. To iterate across T-M-I, innovators must have interdisciplinary skills/ knowledge and the ability to learn/ abstract. Talent (Innovation Skills) Funding is needed at each phase, from basic research to commercialization. Investment Several macro-factors are needed: individual mobility, organizational adaptability, ability to retain earnings, from innovation and a robust legal framework. Conducive Environment An Iterative Process Innovation is not a linear process, but an iterative one with all 3 T-M-I components. Every iteration improves innovation efficiency as the innovator learns and adapts. T M I Each component has many variables. Start with broad-based learning to identify the old & new T, M, I options available. Then figure out which individual pieces + combinations work. As the options are narrowed down, use actual transactions for more in-depth learning. Each iteration deepens the learning, to finally arrive at innovation convergence. T M I www.readingraphics.com ReadInGraphics ReadInGraphics in collaboration with INSIDE REAL INNOVATION HOW THE RIGHT APPROACH CAN MOVE IDEAS FROM R&D TO MARKET – AND GET THE ECONOMY MOVING Eugene Fitzgerald, Andreas Wankerl, Carl Schramm