Innovation in the uk what it takes
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Concept to Commercialisation- what it takes !
Peter Cochrane COCHRANE a s s o c i a t e s
cochrane.org.ukca-global.org
Monday, 28 March 2011
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What it takes - a common misconception!
100%
80%
60%
40%
20%
0%
Energy Required
Idea Beta Alpha Gettingto
Market
~0.1%~1%~5%
~95%
Monday, 28 March 2011
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What it takes - the actuality !
100%
80%
60%
40%
20%
0%
Energy Required
Idea Beta Alpha Gettingto
Market
~0.1% ~1% ~5%
~95%
Monday, 28 March 2011
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How will it fit in the market ?
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Business spectrum...World Economy
1M 10M 100M 1Bn 10Bn 100Bn 1000Bn
Ms
100ks
10ks
1ks
100s
10s
1
Monday, 28 March 2011
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Business spectrum...World Economy
1M 10M 100M 1Bn 10Bn 100Bn 1000Bn
Ms
100ks
10ks
1ks
100s
10s
1
Very Easy
Very Hard
Almost Impossible
Monday, 28 March 2011
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Business spectrum...World Economy
1M 10M 100M 1Bn 10Bn 100Bn 1000Bn
Ms
100ks
10ks
1ks
100s
10s
1
Very Easy
Very Hard
Almost Impossible
Princes TrustLife Style
GoogleFaceBook
Apple, BP MSoft, Shell
Monday, 28 March 2011
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Worlds apart...
982M Land Area Hectares 24M
300M Population 65M
NY ~8M London
12,880G$ GDP 1,260G$Monday, 28 March 2011
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Worlds apart...
Life StyleGolf Course
Build to SellMake money
& retire
Build to Dominate
Build for fun to change &
challenge
Monday, 28 March 2011
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Worlds apart...
Life StyleGolf Course
Build to SellMake money
& retire
Build to Dominate
Build for fun to change &
challenge
Life StyleGolf Course
Build to SellMake money
& retire
Build to Dominate
Build for fun to change &
challenge
Monday, 28 March 2011
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Worlds apart...
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Worlds apart...
>600kpa >400kpa
1980 = 2 x Starts/Year/Head of Population
2010 = 3 x Starts/Year/Head of Population
New Start Ups
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Worlds apart...
>600kpa >400kpa
1980 = 2 x Starts/Year/Head of Population
2010 = 3 x Starts/Year/Head of Population
New Start Ups
~10% year 1~15% year 2~80% year 10
Failure Rate~18% year 1~30% year 2~95% year 10
Monday, 28 March 2011
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How come?
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Bad Money!
- short termism- expensive- punitive deals- self interested- no business support- no value add
- supreme arrogance/know better
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Poor Management!
- inexperienced- unprofessional- stubborn- stupid- believing your own BS- refusing to step aside
- corrupt
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- missing targets- poor customer relationship- under resourcing- running out of money
Poor Management!
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Poor Management!
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Wrong Business Model
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Wrong Business Model
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Bad Idea
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Slow Failure
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Technology Failure
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Fierce Competition
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So, what makes innovation fly ?
A good idea A good leader & a good team
A seductive business plan
Supportive investors
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Good mentors !
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An acceptance that it all looks like this !
Activity Energy
Early StageChaos
Emergenceof Order
Clear Productand MarketDirection
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AND of course...timing & luck !
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Receptive customers help too!
Big Problem Desperation Lots of Money & Panic
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What stops innovation ?
Old minds Old industry Short Termism Destructive investors
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We need a visionaries and risk takers...
...but there is a fine line between calculated risks and doing something really dumb!
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COCHRANE a s s o c i a t e s
cochrane.org.ukca-global.org
Monday, 28 March 2011