What happened to that goldfish ? – your great idea which just didn’t make it through commercialization.
Sure, you have re-invented the wheel dozens of times and you probably also left a few golden opportunities in the disturbing “clay layer” of your organization. Like those of us who invented the tablet PC 15 years ago – or,10 years to early or left a bright co-worker or partner on his own with his/her brilliant idea.
At the time you didn’t have the insight, the capacity, the funding or maybe not even a clue that the idea was available.
We see companies of all sizes leaving great innovations, simply because they are unable to assess the actual value or commercialize successfully. Maybe because the bandwith just wasn’t available at the time – and now – the opportunity are beeing exploited by someone else. We see a number of obvious examples within some of the megatrend technology areas on the verge of eruption – such as Traditional car makers who seemed quite laid back until Tesla came along , Major printing companies who seem late in exploiting 3D opportunities. These examples are very visible to everyone.
The same scenario happens everyday, in every business, also the good solid SME segment which actually provide the backbone in many local economies.
However, the globalization, information speed, efficiency, funding and competence requirements necessary for ensuring great ideas and innovation opportunities are managed and developed will remain a priority and qualification issue.
So, here my advice is to ensure you get a proper ideation tool in place – make sure your capture, document and qualify the right innovations at the right time and then manage your innovation pipeline with the proper commercialization framework. (More about this in other articles.)
The important message here is, that many great ideas only will make the market through structured co-innovation activities. Specially in organisations where resource and capacity are limited – you may be able to create real value out of “unfinished” innovations or forgotten idea’s – and more important, gain additional value from your core competences by applying them in co-innovation projects.
Just now the EUROSTARS program is one opportunity to provide funding to facilitate collaborative innovation. Your company will have a great opportunity to establish partnerships which will enable otherwise “lost” innovations to become commercial success.
Virkon can facilitate and assist in the establishment of innovation management structures which will ensure efficient management of your innovation pipeline. We can also help you identify and evaluate your “forgotten” innovations, find innovation partners and facilitate joint value creation.
Give us a call to discuss how we can accelerate value creation in your company.