The Commercialization Process Advisor

Innovation Comes In Many Forms

Innovation can happen anywhere in just about any thing that you can think of.  It can be formal or informal.  It can be planned or spontaneous. 

The government is now officially in the innovation business.

Invention Marketing Secret Most New Inventors Don't Know

There is a dirty little secret to marketing your invention that very few new inventors (and some experienced inventors) don't know.  Many successful entrepreneurs know it and practice it daily.  For that matter, even Clint Eastwood, one of those iconic tough guy actors has shared the knowledge in one of his 80s era films.

The secret is flexibility.  In order to make money in this innovative world you, the inventor, must be flexible in how you see the market and in how the market will get value from your invention.  Flexibility creates market opportunity.  Rigidity and the inability to envision a new approach or use for your invention can lead to no market interest and no money for you.

Of course, when Clint Eastwood shared this knowledge he phrased it as "Improvise, Adapt, Overcome" in the 1986 movie - Heartbreak Ridge.  In the movie, Clint played a rough edged USMC Gunnery Sergeant who was teaching his Marines how to think, stay alive and win.  (Semper Fi!) 

The metaphor is very appropriate in the invention marketing process.  If you want to make money than you have to adapt your vision and your invention to the needs of the market.

Innovation Elite Want to Control Your Invention Patent

There is an effort afoot to limit your ability to profit from your intellectual property.  The Coalition for Patent Fairness, a Washington, DC based lobbying group that represents many of the largest companies in the world says they want to stop frivolous intellectual property lawsuits.  That, of course, is a worthy goal that we can all support.

The problem is that their definition of frivolous law suits is basically anything that challenges their ability to market intellectual property - yours or theirs. 

These innovation elite, which include such big names as Dell, Microsoft, Google, Apple and RIM want to be able to use your intellectual property without having to give you, the independent inventor or small business, fair compensation.

You can read all about it at Proposed Patent Reform Hurts Innovation or you can visit patentfairness.org for the innovation elite's spin on things.  Of course they believe that allowing them to exploit your intellectual property will create jobs and grow the economy.

Innovation Increasing Exponentially

This is an interesting video that shows how information sharing and innovation are increasing at exponential rates.  It is fascinating - take a look.  Click on this increasing innovation link.

The Trashing of Bio-fuels Innovation

Talk about a time-condensed microcosm of the last few economic cycles!  Wow!

Have you paid any attention to the ethanol market, or lack there of?  Bio-fuels were flying high just a few short months ago when everyone assumed gas was going to hit $5.00/gallon.  Then people started driving less and gas prices started falling – globally.

The gas prices approached, and then soared right through the $2.00/gallon mark (depending on where you live).  The media stopped talking about energy.  By this time banks were failing, car companies were shouting uncle and money managers were looking for the most discrete exit off the stage.  Their economic mishaps alone provided enough material for most of the news media.

When demand falls, prices fall.  Complex multinational forces may or may not allow supply to adapt.  So, because of some competitive pricing in the traditional energy markets, a budding, but quantifiably problematic, alternative energy solution has been once again, sidestepped.

As of a few weeks ago several ethanol companies, as well as the domestic suppliers (farmers) who supplied their main raw materials were failing.  These companies and their suppliers were attracting major investment and making soaring profits just a few short years ago.  That is no longer the case.  Those that invested in this future fuel – lost, and in many cases lost big.

This is a perfect example of what happens in innovation – though on a much larger scale.  Innovation is introduced to the market and some will say, “This is great!  We’ve got to have it” while others will say, “so what?”

Then, something, anything will go wrong with your flawless plan and it will seem like an insurmountable set back.  This set back or obstacle may or may not be caused by something that is in your direct control.

If you are passionate, focused, lucky and true to your goals then you will persevere through the obstacles – some how, some way to make it happen.  Basically your innovation or invention will stay on the path to success.  Just remember that paths can be long and winding.

Also, remember that the people who said, “this is great… we’ve got to have it” will be a very small group compared to those who say “…so what?”  That’s okay because your early adopters are a very valuable group that you should learn to listen to, interact with and learn from.  When things go wrong you will lose some of them, but many will find a reason to stay as long as their needs are being met.

And that brings us back to bio-fuels.  You see, crude oil prices will rise again – maybe not this month, or this year – but it won’t be long.  When they do rise there will be a scramble for alternatives, and bio-fuel, though not perfect will be there to fill a need.  It also reduces dependence of foreign oil and enhances national security as well as providing a base for a new economy (in some rural areas) and much needed domestic jobs.

You see, sometimes true innovation is resilient and sometimes has to wait for society to catch up with it.

Innovation and Realpolitik

Everyone is sulking about America's fall from the manufacturing throne.  It is assumed that we have relinquished our crown to the Chinese because many of the things that we buy are "Made in China".

But let's examine this all too prevalent assumption.  Sure China has lots of low cost labor, but they don't have a bunch of high tech know how. 

What manufacturing or technology innovations have we seen come out of China?  I can't think of one.

Competing with China may have stumbled upon just what the Dr. ordered to move America forward.

Stimulus Bill Innovation Impact

The $787 billion stimulus bill was signed by President Obama today.  We were curious as to how much of that money would actually impact innovation.  Here is what we found:

• $30 billion will be spent to modernize the electric grid and work on advanced battery technology
• $19 billion will be spent helping the medical system employ technology to improve patient care and reduce costs.  Most of this will go towards electronic health system implementation.
• $8.5 billion will be spent on bio-tech and life science research.

So $57.5 billion or approximately 7.3% of the entire package will be spent on innovation. 

Well, we guess that's a start!

True Innovation Breaks with the Status Quo

Sure, we all know that innovation is an overused word that means different things to different people.  True innovation rarely comes from the status quo.

Here are some examples of innovation and innovative thought that challenges your presumptions and possibly your view of the world:

• Auto innovation is not limited to Detroit and the major global car manufacturers.

• Economic development innovation may challenge your worldview and can happen independent of traditional government tools.

We are in a time of unique challenges.  Unique challenges require unique solutions, and that is where true innovation comes in.

Innovation Secret for Small Business

A recent Forbes article highlights what many astute innovators know.  Listen to your customers and adapt your business to give them what they want and you will succeed.

Innovation is the lifeblood of growing your business and competing in this tough market.  You could compete on price, but everyone does that in a tough economy.  The successful companies compete on innovation. 

Keep your eyes open, think about your customers' pains, wants and needs and you will find some innovation secrets for your market sector.

This little secret can help even the most mature growth resistant businesses find ways to break away from the pack, gain an advantage and earn higher revenue and profits than the competition. 

The Inauguration of A Period of Innovation

History is being made today.  The inauguration of the nation's 44th President is ushering in a new era of hope, optimism and innovation.   President Obama, in his inauguration speech called for all of us to work together to bring science and new ideas to the fore front for the benefit of all humanity.

Inventors and innovators - individually and collectively will still have to persevere and overcome insurmountable odds to bring their ideas to market for both commercialization and the benefit of society, but somehow the environment may be a little friendlier, making their journey just a tad bit easier.

There is a renewed call to make America competitive.  We were competitive in the past because of our inventions and innovations.  In order to regain our unique station in the world we will have to develop inventions and innovations that solve problems and create opportunities.  The challenge we face are tough, the solutions to these challenges may be tougher.

A recent letter to the President written by Charles M. Vest, the President Emeritus of MIT, was featured in the December issue of Technology Review.  The letter calls for the funding of the America Competes Act of 2007.  These types of initiatives are crucial to our continued innovation.  The Act was passed in August 2007 but it has not been funded.  The Act was co-sponsored by 69 Senators including Senator, now President Barack Obama.

Just as no one man can solve all of our problems, no one piece of legislation can make all of our problems go away.  What it can do is set the stage of expectations for our society to once again embrace science, technology, knowledge and innovation.

We need more basic research in our universities and research institutions, better science and math education in K - 12, and a better system of intellectual property protection.

Let us be thankful for the period of optimism and unity that is not only sweeping America, but also the world.  Let us be realistic about the challenges ahead of us.  Let us know that innovation is crucial to find the solutions to many of the challenges that we face - whether those challenges are technical, social or economic.

Inventions and innovations are not partisan issues, nor are they the property of one nation.  Many people have great ideas, but never put the energy behind making them a reality.  Some because they don't know how, and others because they just don't.  Inventing and innovating is hard work.  It requires vision and perseverance.

For those of us who are passionate about innovation lets use this time to recommit ourselves to do our part to move the innovative landscape forward.  Some of us can do it in research labs, some in academia, others in K - 12 education, some in corporations, and many of us in basements and garages.  All of us inventing our dream to make the world a better place. 

Regardless of where you are and what you envision - know this - "Change has come to America" - and it has come in the form of innovation and a call for the inventive initiative in all of us.