Trilogy TidingsFebruary 2011
I assume you've noticed that today's watchword is innovation. This process, which some have succinctly characterized as turning invention into cash, seems to be on many minds these days. Innovation is being touted as (1) the key to US competitiveness and continued world influence, (2) the magic bullet to reversing human-derived climate change, (3) the only hope for the survival and success of nascent companies, and (4) more. Even the POTUS has stricken this chord in his State of the Union address.
Well, here's the thing: It's all true. Innovation has been critically important to the human race since Man first made an appearance, and innovation will continue to be very important in the foreseeable future. So we had better continue to be good at it. Alas, there is real cause for concern.
I see some real deficiencies in our ability to innovate through the lens of our consulting practice in new-product commercialization. And, I share my concerns by documenting what I believe are the top 10 innovation killers. Read on if you too are concerned or you just want to improve your own innovation performance.
|Top 10 Innovation Killers
We see failure to innovate more often than I would like. Our vantage point is our work with large and small medical-product companies, assisting them with their new-product commercialization initiatives. From that vantage point over recent years I have identified the practices that most often cause these failures, my take on the Top 10 Innovation Killers. I offer my views in the spirit of helping to improve your innovation performance by recognizing some common failings as a first step toward correcting them.
Many such corrections suggest the involvement of third-party experts and advisors to extend one's capabilities and circumvent internal biases. You should know that Trilogy has often played this third-party role and continues to do so. Beyond our own experienced staff we have immediate access to more than 100 vetted personal and organizational resources with expertise in a wide array of life science services, technologies, and market sectors. Whether your domain of interest is medical devices, diagnostic products, lab instruments and tools, drugs, vaccines, lab services or information management -- chances are we can help you innovate. Contact me for an exploratory discussion of your needs.
The literature on innovation is vast. I do recommend one 2007 Wharton interview with Larry Huston of consulting firm 4INNO; it's a nice introduction to innovation networks of the kind we participate in at Trilogy. A very recent article by Braden Kelley dealing with the organizational complexities wrought by innovation is also a worthy read.
|US Patent Reform?
Speaking of innovation, the US patent system couldn't be a more important ingredient in the innovation process. So it's (finally) nice to learn that real, much-needed reform may be on the way. Read an overview of the intended reform or the text of the bill.
Not a patent guru, so you don't know how this reform package might affect you? Fear not. Contact your own patent counsel or my colleague, Bruce Horwitz. Either can set you straight after they have digested the proposal.