Innovation365 Capturing ideas and using the wisdom of the crowds

Today's innovation comes from Here's an Idea: Let Everyone Have Ideas.

What is innovative? Using the theory of information markets (checkout NewsFutures) capture and "vote" on ideas from your team, group, or company. The innovative part is that the traditional approach to floating ideas, the hiereachical float up the chain of command, is removed and the crowd at your company get to see all the ideas and vote with their feet, time, and dollars.

This extends the model of pulling together an alliance willing to commit to a specific goal, whether it's pitching a product or a new health plan. The alliance formation is a form of a vote on the idea's viability. The people work on projects because they believe in those projects. Check out W.L. Gore segment in Apr 2006 Business 2.0 article on Best Kept Secrets.

Innovation Creation, a community: process, tools, methodology, and people

Innovation creation....

Would you like to be "more innovative"? Has the pace of innovation at your company appeared to have slowed down? Do you have some ideas written down, but don't know where to go or what to do with them? Do you desire to know more about innovation?

Ok, what is innovation? I have come to the conclusion that this word means many things to many people. It is a word that is too broad to apply a single definition. For companies wanting to be "more innovative" there certainly needs to be a common definition so everyone can be on the same boat. But I am not going to define it for you. Take a look at the many books with various definitions and stories on innovation as an example of the word's breadth.

However, I will give you some themes around the word innovation:
  • new idea
  • useful
  • creative
  • changes something old to make something new
  • radical
  • incremental
  • growth
  • invention or inventing
  • unique
  • change
  • novel
  • improvement
  • breakthrough
  • improvement
  • revolution
  • discovery
  • brain storm
  • invention
  • originality
  • ingenuity
  • creativeness
  • vision
  • imagination
  • ingenuity
  • transformation
  • clever
  • improvement
  • ingeniousness
This list can go on but hopefully you get the idea. Innovation has many dimension.

So what is innovation creation? I'll address this with a set of questions.
  • Do you feel the pace of innovation is slowing down at your company?
  • I have an idea but I do not know what to do with it... Any thoughts on the next steps I might take?
  • I have a small prototype of an idea. But it is not very compelling. What can I do to improve the prototype?
  • I am looking for ideas for a specific industry. What can I use to help generate new ideas?
  • What type of tool works best to get ideas out of a group of quiet people?
  • There are lots of books out there on innovation. Which one would you recommend?
  • What types of activities can help groups become more "creative"?
  • What are the best metrics to put in place to see if our innovation pace is picking up or slowing down?
  • How can I build an innovation community at my company?
  • There are four or five commercial idea tracking or innovation process monitoring packages out there. What will work for our company?
  • What are some activities I can put in place to keep the innovation process alive and going at my company?
  • Do I have the "right" people on my innovation teams?
  • Where do I find innovative people?
  • I get "it" but my management is not interested in innovation... What can I do?
  • I have read all these books on innovation but I do not know how to get started. What can I do?
Some of these questions are asked everyday. Some people are able to find a solution that addresses a question or two. Many, however do not find suitable solutions and make do with the status quo or end up with a slower pace of innovation.

People struggle with how to learn about the innovation process and then how to apply it. Additionally, adults must make a serious efforts to adopt behavior that may not be perceived as "normal" (As an aside, read the first chapter of Orbiting the Giant Hairball).

The innovation process, tools, methods are not formally taught in standard college courses (though this is changing with places like the Institute of Design at Stanford, MIT's Technological Innovation & Entrepreneurship PhD, Duke's Center of Entrepreneurship and Innovation, and Indiana's Johnson Center for Entrepreneurship & Innovation). There is a need to have access to a community that provides tools, processes, methods, and people to help you create new products and services. Innovation Creation is about creating this community.

Below are historical entries on my investigation of innovation. I started with the question Innovation in real life... Where is it, what does it look like?. This research base and the experience of practicing parts of the innovation process will be used to create a product to address many of the questions above. This product will not answer all of them but will provide a frame work on which to build solutions, approaches, and answers to many of them.

Innovation365 Social good and philanthropic good.

Today's innovation comes from Is Grantmaking Enough? A Case for Mission-Related Investing.

What is innovative? The base assumption that 5% of non-profit investments go to social good through program support and the other 95% of non-profit investments go to maintaining the foundation financial base in perpetuity is challenged by Mr. Luther M. Ragin, Jr., Vice President of Investments for The F.B. Heron Foundation.

The challenge Mr. Ragin rises is to consider that private foundations can prudently make investments without jeopardizing the value of its endowment. He brings to light a new set of financial tools that can help accomplish the foundations' philanthropic mission and achieve market rates needed for maintaining the financial needs of the foundation. It's not an either or but an and.

New focus, creating my kind of company in innovation creation

Starting March 6th, 2006, I will be working on developing several ideas around innovation creation. There is a need to assist people and companies by creating possibility extensions to their research / product development and then take those possibility extensions toward marketable products.

The innovation creation extends my work around discovering what innovation is and is not, the tools that help create a culture and mind set of innovation, and practical application of those innovation tools to create new, useful, fun products.

In the next few weeks I will be sketching out vignettes of several innovation creation paths that I will use as the story board for developing my kind of company. If you have any thoughts or comments, please feel free to post comments here or send me an email to innovationcreation at

Innovation365 Integrated printer, copier, scanner, USB storage

Today's innovation comes from HP PSC 1610 printer.

What is innovative? This product provides an integrated scanner, printer, copier, AND slots for several different storage devices (flash, SD, XD) so that they will appear as devices on your computer. The install of the printer was easy and the software was painless to load. What I was surprised about was the integration of the storage slots to the computer. I use a Mac and when I inserted a compact flash card into the slot on the printer, the storage card showed up on my desktop. Additionally, iPhoto recognized the storage card as a device from which to import pictures! I was thrilled!! This made the product innovative because the engineering took the multifunction device (all in one printers) one more step (added storage device integration) and made it usable on my computer.

About InnovationCreation

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