Wednesday, May 21, 2008

How do we innovate?

Stanford University
, 2008, day 1: How do we innovate?

The topic itself is attractive enough. However, the speakers really helped to nailed it down. I really enjoyed moderating it and here are the key points I'd like to share with you.

Innovation process evolves differently in different environments depending on:
- the issues that it is addressing,
- geo-social characteristics of the groups that are addressing it,
- eco-political situation of the environments they operate within, as well as, of the ones the needs are addressing with the innovation processes.
In addition, when talking about an innovation space, one should not overlook the following elements:
- focus funds need to be available at all stages of the innovation process,
- new business models need to be created based on the bundling networks concept and cooperation across different industries, expert groups, cultural environments,
- better managed and modeled innovation processes are needed, based on a net of networks of different experts and users needed for the completion of the process,
- new mind set needs to be encouraged, inspired (more willingness to risk, higher tolerance to failure, more playful spirits, understanding and managing the fact that the life travel of an entrepreneur is quite a lonely one – get people ready for that),
- higher cultural integration and support and higher innovation culture support.

In all of the mentioned issues, media can play a profound role, if they want to. However, they need to cooperate more on a global level (there is a need for global journalist networks – InJo is addressing just that) and they need to show more interest in understanding the technology that is in most cases the generator of change in societies. If journalist won't see a chance in this newly created global need for efficient and prompt reporting and predicting about the global disruptions, somebody else will. Is there an opportunity for a new profession based on these global needs?

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