The New York Times published an interview with Steve Chase, founder of AOL and currently an venture investor through his firm Revolution Capital. Although only the final interview question had to do with corporate innovation, Mr. Chase gave a great answer that reminds us that there is cultural bias against risk and innovation that is persistent in established corporations; When attackers become defenders, innovation is lost. Continue reading
We’re thankful that nobody in the Newlogic family, past and present, appears to have been directly effected by Monday’s bombing at the Boston Marathon. Though, at the same time, we send our sincere condolences to all those that were, in any way, touched by this horrific event.
In the coming days we’ll be looking into ways we can make a positive contribution. In the meantime, we’re donating blood and money to the Red Cross. A link to the Red Cross’ statement on the Boston Marathon Explosions is here.
“Fisker is a design company, not a manufacturing company. It was destined to fail from the beginning”
- Darrell Issa, R-CA.
From FastCompany.com comes this article highlighting the idea of Innovation Debt. “Innovation debt is the cost that companies incur when they don’t invest in their developers,” Peter Bell writes in his personal blog. “It happens when the team is too busy putting out fires and finishing up features to keep up to date with advances in languages, frameworks, libraries, tools and processes.”
His point cuts across all domains. No matter the discipline, if you don’t invest in your talent, you will incur costs “like interest on an overdue loan.” Like unchecked hypertension innovation debt is a silent killer.
Unfortunately, we’re seeing far too many companies knowingly incurring Innovation Debt. The current era of R&D cost management and de-investing are precisely the corporate decisions that lead to the best people leaving, inability to recruit the right people, loss of productivity, and an innovation funnel that is decreasing in value.
From Forbes magazine comes their list of the best food innovations of 2012.
From Cool Hunting comes this video interview of Dr. David Edwards, founder of Le Laboratoire. Le Laboratoire is known as the inventor of the AeroShot Energy Inhaler and WikiCell edible food packaging. In the interview Dr. Edwards talks about his approach to innovation and why he opened a public store-front / innovation lab in Paris for art, science and design.
Babson College (my alma mater) has a feature section in the Boston Globe that highlights entrepreneurship in Boston. Babson, and it’s MBA program, is well-known at being ranked as the top entrepreneurship college in the US. I like that the Boston Globe article describes a range of entrepreneurial activity of all kinds. By giving visibility to entrepreneurship within existing businesses, women entrepreneurs and others Babson helps show that there are many paths to business creation.
In the New York Times’ Opinion pages come this article on the relationship between innovation and social inequality. Written by Edmund S. Phelps, a Nobel laureate in economics. In it, Professor Phelps proposes that the process of continuous innovation, both incremental and disruptive, laid the foundation for the broad-based prosperity of the American middle class in the postwar years. He makes the argument that inequality will continue to grow without a revival of broad-based industrial dynamism. Continue reading
For many, this would imply a further de-emphasis on innovation. However, this goes to a common mis-conception about the value of innovation. Continue reading
Harvard has made a major push into entrepreneurship, and it’s been supported by investment in their iLab. Opened in 2012, Harvard’s iLab has already reshaped the innovation education landscape in Boston. The iLab’s facility and faculty can draw on Harvard’s breath of creative students and business school acumen to educate and incubate entrepreneurs from one, if not the, best schools for higher education.