1. Innovation

2. Agenda
Defining innovation
Analyzing innovation
Protecting innovation

3. Defining innovation

4. Innovation & business
"Business has only two functions, innovation and marketing.”
- Peter F Drucker
“Creativity is thinking up new things. Innovation is doing new things.”
- Theodore Levitt
Innovation distinguishes between a leader and a follower.“
- Steve Jobs

5. Creativity vs. Innovation
Creativity generates new ideas that may inspire innovation
Innovation generates solutions that may create value
Entrepreneurs need both creativity & innovation
Creativity drives innovation
Innovation is driven by entrepreneurs!

6. Using creativity to innovate
Tools
Brainstorming
Brain writing
Mind maps
Force field
Etc.

7. Innovation Machine

8. Where to Innovate

9. Effects of process & product on value
Source: Derived from the PIMS (Profit Impact of Marketing Strategy) database

10. Shhhhh...

11. Analyzing innovation

12. Stages of New Ventures
Idea
Pitch
Feasibility
Plan
Implement

13. Schumpeterian Trilogy
Invention
Innovation
Diffusion
Innovation
Diffusion
Invention

15. Protecting innovation

16. Intellectual Property (IP)
Challenge for organization to transfer knowledge within enterprise to a tangible product or service thus creating IP.
Multiple forms of IP:
Patents
Copyright
Design Rights
Trademark

17. Patents Must meet: Novelty Inventive Step Industrial Application
Patentable Subject
Clear and Complete Disclosure

18. Copyright Expression of ideas ©
Various from country and material type.
Generally, 50 years from death of author/artist
50 years from creation for any recordings video or audio

19. Design Rights Similar to copyright, but applies to 3D items
15 years, unless commercially used then 10 years (North America – 25 years EU)
Legos

20. Trademark
Logo
Applies to:
Businesses
People ™ ℠