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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Knowledge and innovation: a tight interdependency

Any innovator knows from experience that knowledge is as important to him or her as mortar is to a mason. Knowledge is required at every step of the innovation process. Knowledge is the key resource in the generation of an innovative concept. We speak here about all types of knowledge, not only technical knowledge but also knowledge of markets, user ergonomics, business trends, geopolitics, and so forth. When an idea is found worth pursuing, further knowledge is needed during the engineering phase to implement the concept. In parallel, another layer of knowledge is required, this one to back one of the most critical phases of innovation—the process of shaping a business model and defining a marketing strategy for the new

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Mega-trends in employment and work organization

In parallel to the third Industrial Revolution, the world of work and employment is changing rapidly. Birth of the enterprise: from a marketplace of skills to employment Blanche Segrestin and Armand Hatchuel give a very clear history of employment and of the notion of an enterprise in their book Refonder l’Entreprise. A traditional factory, such as a textile factory, before the first Industrial Revolution, differed from today’s factories in two important ways. First, people rented out their skills to the factory—the worker was a supplier. The notion of a work contract did not exist, but rather there was a real marketplace of skills driven by demand (by factories) and supply (by workers). Second, the factory relied on inventions and innovations

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Toward the third Industrial Revolution: optimizing resources

The economist Adam Smith identified three key factors for economic growth: labor, capital, and resources. While the first and second Industrial Revolutions were mostly concerned with optimizing labor productivity and capital allocation, the third Industrial Revolution is expected to focus on optimizing resources. Resources are understood in a broad sense to include land, raw materials, energy, workspace, knowledge, human resources, and so forth. First Industrial Revolution: optimizing labor The first Industrial Revolution spanned from the late eighteenth century to the early nineteenth century and was characterized by dramatic improvements in the methods of producing material goods. The steam engine, invented by Jerónimo de Ayanz y Beaumont, commercialized by Thomas Newcomen and much improved by James Watt, replaced more traditional power

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Innovation: integrate the best state of knowledge in the world – Marc Giget

Integrate the best state of knowledge in the world To innovate is to integrate the best state of knowledge into creative products and services with the aim of improving life in society and for individuals. These three components: the knowledge, the creation and the improvement of life constitute the fundamental elements of all innovation procedures. They are, depending on the players and the periods, favored as the initiating factor.  Albert Meige and Jacques P.M. Schmitt let us run through these different approaches and sensibilities in respect of innovation procedures: technical push and innovations originating from knowledge as the prime factor, valorization of the vision of the creator, designer, entrepreneur, human- centric innovations originating from expectations, dreams and wishes of individuals.

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Presans Raout 2016: go deep or go home

Friday October 7, PARIS — The urban halls of Remix Coworking once again rang with the clamor of the Presans Raout. Expectations had been set high by the previous edition of the Parisian industrial innovation event. Presans CEO Albert Meige managed once again to take everyone by surprise. Sure, the Presans team went in with a rough map of what was about to transpire. The Raout is our annual company gathering, a time of reckoning, a time when visions are shared and strategies discussed.  In 2016, a snapshot picture of Presans would reveal the following facts: Presans is consolidating its position as a French industrial open innovation leader. The Fellows team is successfully renewing itself and expanding. The technology behind

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How much multipotentiality does innovation need?

Multipotentiality has a strong sense and a weak sense. In the strong sense, it is the ability to perform in unrelated domains of activity. In the weak sense, it is the cultivation of interests pertaining to unrelated domains, even if this cultivation is not associated with performance. It is this weak sense that is employed by Emilie Wapnick, founder of the “multipotentialite” tribal religion. Her doctrine asserts the existence of a distinct “multipotentialite” type of personality, whose flourishing stands at odds with socially dominant “specialist” roles. According to this doctrine, multipotentialites should specifically accept not completing projects as a normal consequence of their multipotentiality. The purpose of this commandment is to remove the sting of failure. Multipotentialites basically encourage each

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Interview with Hervé Arribart, Fellow at Presans

Hervé Arribart is taking over the management of Presans Fellows, previously in the capable hands of Jacques Schmitt. Hervé’s career evolution is emblematic of the meta-expert type that lies at the core of the Presans model of expertise engagement. He took the time to answer a couple of our questions. Tell us about yourself and how you ended it up being recruited by Presans. Back when I was a student at the École Polytechnique, I had no precise idea of what I wanted to do. I started my career as a scientific researcher mainly at the instigation of my teachers, for whom I had and still have a lot of respect. They opened up my access to this world. But

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Looking Back: 2015 for Presans

Let’s face it, on a collective level, 2015 mainly brought us a lot of pain. Remembering that is part of what keeps us afloat in the storm. Switching to the individual level, the tone varies. Looking back, we at Presans can see that 2015 brought quite a few changes for the better. Things really kicked off for us in March, which is when we moved into our new office at Remix Coworking. The migration from the remote plateau of Saclay to the entrepreneurial hipness of the Tenth arrondissement went down rather well with the team. The options for food expanded considerably. A whole new potential to host events also opened up. Very handy, for instance, if you have a new

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Every Trick in the Book: Raout Presans 2015

Steep expectations. This is what Albert Meige is faced with as he contemplates next year’s Raout. Because last week’s 2015 edition, brought to you by Presans in partnership with the CCI Essonne and Techinnov, certainly did not just coast on the previous year’s success. Relocated to the Fall season, and to the urban halls of Remix Coworking in Paris, the French innovation event gained traction on every front. A hundred hand-picked guests decided this was the place to be on a Friday night, up 400 percent from last year. The reason they came may or may not have had something to do with Jean Botti’s conference. But there was more. Magician Remi Larrousse warmed up the room with an exceedingly clever demonstration

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