On Innovation and Failure: IITP Conference Oct 25 2013, Lance Wiggs
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Transcript of On Innovation and Failure: IITP Conference Oct 25 2013, Lance Wiggs
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Innovation and Failure
Lance Wiggs Punakaiki Fund
IITP Conference, 25 October, 2013
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What is innovation?
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Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.
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!e Unexpected
!e Incongruity
Process Need
Industry Structure
Demographics
Perception, Meaning
New Knowledge
𝟕 Sources of Opportunity
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!e Prize
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120 companies
120 inspired entrepreneurs
An additional $40 billion/annum in exports (double our present exports)
"e great challenge
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Why would such businesses want to stay
in New Zealand?
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“A place where great talent wants to live”
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$40 billion
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$40 billion
$140 billion GDP
$12.5 billion Education spend (2013)
$58 billion Core Crown tax revenue, FY 2013
$14.5 billion Health spend (2013)
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"e World
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"e Country
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End Users & Customers
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Suppliers
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Government
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Staff
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Investors
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You
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!e Path
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INVESTORS COMPANIES CUSTOMERS END USERS
Have funds
Seek returns
Create products
Seek paying customers
Have money
Seek value for end users
Have unmet needs
Seek delight
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TECHNOLOGY
INVESTORS COMPANIES CUSTOMERS END USERS
Have funds
Seek returns
Create products
Seek paying customers
Have money
Seek value for end users
Have unmet needs
Seek delight
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© 2012 Emirates Team New Zealand
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Learn Grow Expand Return
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Eric Ries, !eLeanStartup.com
“Startups exist not to make stuff, make money, or serve customers. !ey exist to learn how to build a sustainable business.”
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Question: When will we see in the annual report, bo#om line: profitability?
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Do the basics
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Us
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Do I have any power?
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lusakatimes.com
Lusakatimes.com
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Is there a path ahead?
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Memo to the Boss of Bosses
We need to change, and here is why, and what I suggest: 1. !e team is under-delivering versus goals 2. We have no goals to begin with 3. And the team itself is demotivated And I suggest: 1. We set goals for the team 2. We begin monthly/weekly reviews 3. We appoint a team leader. Me
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Grow
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Dear Boss of Bosses,
Goodbye.
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Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.
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"e World
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"e Country
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End Users & Customers
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Suppliers
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Government
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Staff
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Investors
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You