One universal truth can clearly be seen about innovation in universities, startups, and corporations – innovation is driven by the individual and supported by the corporation.
Identify the Individuals who Drive Innovation
In Jeffrey Babin’s article published in the Wharton Entrepreneurship blog, he makes the case that it is extremely important to identify those key people in every organization who drive innovation internally. Per Babin, “They share several common traits. They are able to cross departmental and hierarchical boundaries, find and secure resources, engage others to pursue their vision, and ultimately capitalize on an opportunity”.
Organizations Doing More with Less; Innovation is Key
There is a lot of attention today on innovation and entrepreneurship as people, companies, and even universities try to capitalize on innovation. This is especially true in a challenging economic environment with reductions in funding sources. We’re all looking to do more with less (the hallmark of the entrepreneur). After almost thirty years of practicing, consulting, and teaching innovation and entrepreneurship, one truth remains: Innovation is driven by the individual, and supported by organizations.
Finding those individuals, and giving them the resources they need is critical to a successful innovation initiative. Read the article.