Most of us make our daily living by generating creative ideas, solving tough technical problems and translating our ideas into inventions. Now what would give us greater satisfaction? – Innovation, i.e taking our insightful ideas and breakthrough inventions successfully to the market. How good are we at Innovation? – the present statistics are quite discouraging - typically, for every hundred good ideas, ten may lead to breakthrough inventions and one to an innovative product that meets a critical need of the customer. To accelerate the Innovation process and to maximize the Return on Innovation, we need a systematic Innovation process that will (a) focus and structure our ideation efforts (b) align our ideas to solve a critical need and ensure that the Customer sees added value and most importantly (c) give us the satisfaction of seeing our idea through the end of the Innovation Funnel. As an inventor, I have often wondered how to bridge the gap between invention and innovation. When ...
Shankar's Approach to Transforming Ideas into Innovations