Innovation - GEW Qatar 2014
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INNOVATION Workshop Emad Saif Center For Entrepreneurship, Qatar University
description
Grasping a better understanding of innovation and its various forms. Learning what innovation is and what is not by tackling famous myths about innovation. Understand the importance of innovation and lesson we can take a way.
Transcript of Innovation - GEW Qatar 2014
INNOVATION Workshop
Emad Saif Center For Entrepreneurship, Qatar University
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Lessons …
Innovation?
Why Innovate?
Myths!
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
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
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:
• http://www.youtube.com/watch?feature=player_embedded&v=xT7zP-rT3kQ
• http://qz.com/170463/this-is-the-worlds-best-designed-pizza-box/
World’s Best Designed Pizza Box
Disruptive Innovation
New Market Existing Market
Exist
ing
Tech
nolo
gy
New
Tech
nolo
gy
Incremental/Sustaining Innovation
Disruptive Innovation
Disruptive Innovation
Breakthrough Innovation
MARKET
TECH
NO
LOGY
Disruptive Technology
Disruptive Technology - SKYPE
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 Adopt 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
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
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
Read more about innovation …
“Never doubt that a small group of thoughtful, committed people
can change the world.”
Margaret Mead
