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Introduction to Innovation:
Business Driver of the 21st Century
Our Definition of
Innovation
Innovation means renewal by application of new technologies, methods and procedures at the cutting edge of business. Innovation in our sense is always directly connected to customer requirements and business. Innovation can be defined as the way or process to create new added values for customers. Consequently, we use the term "innovation" to mean the process that transforms ideas or concepts into
commercial value.
Different Types of
Innovation
When people hear the term "innovation" they usually think of technological innovation. In fact, technological innovation is nowadays the most dominant innovation type. Nevertheless, apart from technological innovation, there are another relevant innovation types as for example economical, organisational, political, and social innovations. It should be mentioned that the different innovation types
can affect each other mutually: For example technological innovations (e.g. the information technology/Internet) may have an impact on economical, political, and social innovations.
Moreover, sucessful innovations with an attractive market potential are often creative combinations of different innovation: For example a new business model based on a technological innovation as well as an appropriate market expansion method e.g. Franchising.
We focus on technological, economical and organizational innovations as well as their combinations. In order to improve effectiveness and efficiency of the technological innovation, we developed our Technology Management Concept.
The recently developed Innovation & Venture Concept is a direct response to the "after new economy time" and is addressed to entrepreneurs, founders, start-ups and spin-offs.
More Innovation for Less Money by our Technology Management Concept
The basic idea of modern technology management is to start the technology project as close as possible at the goal to be reached. This is enabled by technology and know-how transfer from the outside which results in a substantial reduction of R&D-costs and shortening of innovation cycles and time-to-market.
Nowadays, technology and know-how are to a large extent commercial and/or acquisitionable resources. Many large corporations and SMEs as well as public institutions (Universities, ETHs, European Union programs, transfer centers, technoparcs, Fraunhofer, Steinbeis....) are either suppliers of technical know-how (hardware and/or software) or produce know-how on a contractual basis.
The main advantages of the Technology Management Concept are the significant cost savings in R&D-expenditures and the shortening of the innovation cycle and the time-to-market.
Successful Start-up Development by our Innovation & Venture Concept
After having spent a lot of time, money and energy in the development of prototype versions, most of the entrepreneurs and start-up teams are confronted with the problem that venture capital firms are not willing to provide venture capital for further development of the start-up company. The reason is that venture capitalist or investors are not interested in the actual
prototype version of the project, because customer focus and track record are missing.
Many entrepreneurs and start-up teams already fail at this very early stage! But this very unsatisfactory situation can completely be avoided.
The solution to this problem is given by the method of "Simultaneous Venturing" as presented here within our Innovation & Venture Concept.
US Ministry recommends Switzerland as an optimal business location in Europe!
We offer overall business setting up services in Switzerland:
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