Posts from the ‘Entreprenuership’ Category

Making Others Dreams Happen – Taking That Gleam In A Visionary’s Eye To Reality

Making dreams happen is a two-fold process

  • The visionaries who dream great ideas and takes the concept to a prototype
  • The pragmatists who take it to market
It always surprises me to see my peers proclaim that a project or an idea is not viable mainly because they don’t understand it
What does it take for a project to succeed?
  • The right resources
  • Reasonable capital
  • A Team who believes that it can be done
  • The right seeds planted and watered
  • Empowerment
  • Engineering
  • Risk Management
  • A willingness to shoot from the hip when required
  • Lending a friendly ear to the soldiers
  • Not shrinking from going back to the drawing board
Creativity is the key
Great solutions come when your back is against the wall
Research and present your strategy for meeting Goals
Get buy in from the Team
Go for it and do not look back

Open Innovation – What is it? Is it a new term of an old concept?

The other day I was asked what was my idea of open innovation

So I decided to Google Open Innovation

Here is the low down which I quote from the link which is given below

Open Innovation is the use of purposive inflows and outflows of knowledge to accelerate innovation. With knowledge now widely distributed, companies cannot rely entirely on their own research, but should acquire inventions or intellectual property from other companies when it advances the business model.”

I am originally from India and we went out to the world and licensed technology.

Of course at that time we called it collaboration.

Companies in the USA generally rely on their own in house R&D and now I can understand what Open Innovation is all about

Or do I?

My take on this is that as individuals we have to network with other professionals and discuss innovative approaches as long as they do not compromise IP (Intellectual Property)

These networking discussion will indirectly lead to Open Innovation opportunity

Innovation, Entrepreneurship & the Evolution of Cities

Excellent article by

Irving Wladawsky-Berger on why is it that only a few cities and regions around the world have become successful innovation hubs, even though many have tried?