1. What is INNOVATION?

Essentially, innovation is the transformation of a new idea into a new product, service or process.  The formation of a new idea comes from a separate but closely aligned process called creativity.

Post-it® Notes are a well known example of a new product innovation.

The Evergreen Carpet Leasing System is a recent example of a service innovation that shifts the responsibility of maintaining and recycling a carpet away from the consumer to the carpet manufacturer.

A good example of process innovation is the development of chlorine-free bleaching in pulp & paper mills to replace the older chlorine-based bleaches that produced environmental contaminants. 
 

2. What is important to consider when being INNOVATIVE?

Remember that it is people who will end up using the new product, service or process from your innovation.  Being able to get feedback from potential end-users early on in the innovation process will give you valuable information than can often improve the overall success of your project. Many innovators now use potential end-users directly in the innovation process to help link their ideas with the innovative solutions that people are seeking.

With over 6.7billion people on the planet today it is important to recognise that your innovation may have already been duplicated and developed independently by someone else.   At each stage of the innovation process it is important to check that you are not reinventing an innovation that has already been developed.  Using the internet to do a general or patent search for an existing product, service or process innovation similar to your own can save wasted effort.
 

3. How can you make your INNOVATION more effective?

The path from an idea to a successful product, service or process is challenging.  In many cases less than 1 idea in a 100 ends up as a commercial proposition. To improve these odds an innovator will often break the innovation process into several stages. 

The first stage is to identify an opportunity or problem that needs a creative solution.  For example, the rising cost of oil is creating both a problem and opportunity for car manufacturers as consumers demand fuel efficient vehicles, hybrids and electric cars with the power and functionality of existing cars. 

The next stage is for you to find ideas to transform into your creative solution. Innovation does not occur in empty space. Innovators often look at an existing successful innovation in the marketplace as a starting point.  Existing innovations often stimulate the next wave of innovation. 

For example, consider the evolution of the modern cell phone from the large brick device used in the 1980’s.  The hardware of the phone has been continually innovated through miniaturization, touch-screens and the addition of cameras. The manufacturing process has lowered costs and made more use of renewable components.  Phone companies have also created innovative services that include different payment options, software, real-time maps for directions and on-line applications. 

Next, a shortlist of ideas can be exposed to potential end-users for feedback. If this is not possible you can do some desktop research to help identify the most promising ideas that you want to prototype.

The prototype stage allows you to assess the technical and economic issues of developing the product, service or process innovation that you have identified through your market or end-user assessment. 

A good example of prototyping can be found in the recent seating innovation introduced by Air New Zealand. This company developed a number of life size prototypes of different seating configurations to assess.

The commercialization phase can be the most difficult.  It is here where a lot of effort goes into quantifying the details needed for commercial production of the most successful prototype. Identifying the costs of protecting, producing, distributing and marketing the new product, service or process as well as the revenue projections are critical to developing the business case for a company or investor interested in your innovation.
 

4. Why is it important to consider INNOVATION?

Innovation is an important driver of economic growth, wealth creation and wellbeing for people.
 

5. Where is the best place to find out about INNOVATION?

These days the internet can provide a wealth of information about innovation.  Here you can find reports on megatrends that can provide a valuable source of opportunities and problems that people will have to deal with in the future. For example, providing access to safe affordable water to people will be a major issue in the future. 
A number of patent databases are freely available on the internet to allow you to check if an idea that you have has already been patented.  Some sites will also allow you to access free market research for new emerging technologies. Also, various templates are available on the internet to assist in assessing the feasibility of an idea or for developing the business case.
 

6. Any additional comments on INNOVATION?

Starting your innovation process with an opportunity or problem that people value is often more successful than starting with a good technology looking for a solution.