Innovation risk management as a gambling game

“Fail often, but fail fast and cheap” is a well known mantra, often repeated by innovation gurus. However this piece of wisdom is not so easily understood by enthusiastic would-be inventors and innovators. This text attempts to illustrate this somewhat puzzling recommendation and demonstrate by a priori reasons how true, challenging and beneficial it is to fail fast and cheap. 1- Failure as most likely fate for innovation Innovation starts with an original idea, an invention. This idea is new; it sounds great but, as nobody has materialized this idea before, trying to go on with it and generating value implies opening a trail within unexplored territory. Indeed the idea will have to blossom in a context dominated by knowledge

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Breakthrough Factory Interview: Albert Meige & Eric Kirstetter

The Breakthrough Factory is a new approach to systematically and efficiently create breakthrough innovations based on technology. Arthur D Little and Presans are partners in this brand new offering. Breakthrough Factory mastermind Eric Kirstetter, Partner at the ADL Paris office, and Albert Meige, Founder and CEO of Presans, give us their thoughts on the motivations behind this industrial open innovation game-changer. What has changed in the way industrial companies innovate today? Why are they putting their focus on breakthrough innovation? Eric Kirstetter: Products that add value in a way that gives you the option of either gaining market share, or of raising your price, are what breakthrough innovation is all about. What counts is the value as it is perceived

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PRESANS: exciting news

On the 18th of January of last year, PRESANS launched X-Search, the first worldwide expert search engine. We decided to choose  the 18th of January again to announce some exciting (at least for us!) news. In the past few years, we’ve had to learn a lot in order to develop fairly robust applications and high-end services to boost innovation. The time has now come to streamline a number of things and to structure our offering in a clearer way. Keep on reading to find out about Sofia, X-Search and X-Call… and to discover our brand new corporate website. Why did we change ? First of all, PRESANS is still PRESANS: our recent evolution is a logical step towards doing what we already

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Schneider Electric: Focusing Research on Use Cases

During the conference on Open Innovation and the Globalization of Research organized by L’Usine Nouvelle on the 1st of December 2011, Claude Ricaud, Sr VP Innovation of the Power division of Schneider Electric presented his vision of innovation. Presans was there to report this vision.   A multi-source innovation model We don’t use an iPhone in the same way we use a Nokia – Claude Ricaud, VP Innovation at Schneider Electric Claude Ricaud first presented the multi-source innovation model that Schneider Electric implemented: Technological innovation: first, technological innovation (R&D) is necessary because it yields sustainable competitive advantages. Customer Innovation: then, innovation through use cases, which creates the most value for customers. Innovation market: finally, business innovation creates disruption and maximizes

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The Erosion of the Closed Innovation Paradigm

In our article “The Golden Age of Closed Innovation Closed”, we gave a definition of “Closed Innovation”, and we explained how and why this type of innovation management had appeared and were necessary conditions of its success. In particular, we explained that A buffer between Research and Development had to be established, Intellectual Property had to be strictly controlled, The mobility of qualified people had to be limited. However a number of factors have contributed to the erosion of the virtuous circle formed by Closed Innovation. While some companies who did not manage to adapt suffered from important losses, others have been innovative in the way they innovate and have turned to Open Innovation. Erosion Factors for the closed innovation

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Golden Age of Closed Innovation

Open Innovation starts to be a very popular topic in Europe. This has been the case for much longer in US (since 15-20 years ago). Open Innovation will be the subject of a series of forthcoming articles. Before being open, innovation was closed. However the expression « closed innovation » was probably coined at the same time as « open innovation ». In this article we define closed innovation. Definition of closed innovation Within the closed innovation paradigm, the process leading to innovation is completely controlled; all the intellectual property is developed internally and kept within the company frontiers until the new product is released on the market. The origin of closed innovation lays in the lack of involvement of

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