Notes

Inventors and Innovators Always Believe They Possess the best New Thing
In retirement, I've been running an advertising hoc online type think tank, that i must say is very fun and quite interesting, I get to see points nobody else will, and look at new innovations and developments before the Venture Capitalists, government, patent office, and so forth It's only plain fun, and even some of typically the observations about development have been quite showing, specially when it arrives to the thoughts of those imaginative geniuses that do the creating.

Not long ago, someone reached our team which has a great brand new power generation gadget. Unique in lots of ways and even yet, somewhat similar to the gold standard in the marketplace with regards in order to hydro-electric power. However borrowed some through nature, some through industry, together him self a decent design and style. Just short associated with website . He requested GE if they would create some sort of meeting with him, and he had been shocked that these people were not that will interested in even conversing with him.

You see GE offers their own labs, and own L and D, and so they get approached 100 times per day by inventors, they shouldn't take that personally. An appealing publication to read is usually "The Secret in order to GE's Success" by simply William E. Rothschild, which discusses just how GE works and just how it has arrive to be one of many ultimate global multi-national conglomerate power home (pun intended) and exactly how it goes concerning innovation, politics, worldwide aggressive growth, and how it recovers from the mistakes and regularly re-invents itself just about every decade or and so.

To higher understand company innovation you ought to read that guide, and I'd in addition recommend; "Built in order to Last" and "From Good to Great" by Collins. Any time the inventor approached me with his technology, I had been intrigued, nevertheless not impressed (after all it had been hydro not wind power, just kidding). The reasoning behind my personal failure to express "Wow, great idea, may be worth millions" is really because I don't understand, and his invention has to be cheaper to make, easier (less maintenance), plus more efficient compared to everything else available.

Plus, the power component derived need to be substantial. In addition scalability "both ways" is important as the company grows in addition to discovers new market segments and can supply those energy remedies. A "Reality Check" is definitely needed, and although no 1 ever wishes to speak with the "Devil's Advocate" tongue, it lets us know the difficulties ahead, where to avoid and these are additional problems to solve and hurdles to leap.

As long as the innovator is aware we are right here and we do not brush all of them away with positive euphoria, we can help them past the particular issues which are generally deal breakers to be able to getting funded. Nonetheless, any investor is going to be asking these equivalent questions and no matter if VC or clever angle investor, effectively, they are not going to let anyone off the hook who else cannot pony upwards together with the answers in addition to evidence of concept, even if a small prototype. Please look at all this.
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