Model-based Innovation and Entrepreneurship
Innovation is a primary source of economic growth, and yet only one idea out of 3,000 becomes a successful product or service. In our book, Scalable Innovation, we introduce a historically validated model for the innovation process, helping innovators to understand the nature and timing of opportunities and risks on the path to success. We de-mystify the “luck” component of success of many technological innovations, providing tools for turning challenges into opportunities for practical, scalable innovation. The most common false beliefs about innovation are outlined, along with barriers in reasoning that impede practitioners from seeing problems in a new light. We propose a specific system model that helps identify essential present and missing elements of scalable systems needed for solving high-value problems. This approach enables practitioners to anticipate and expedite the creation of value through the guided innovation process, accelerating innovation development and evaluation cycle.