The pace of development and dissemination of knowledge over the past three decades has surpassed by orders of magnitude all discoveries over preceding history. But our processes to harness that knowledge for profitable innovation by America’s corporations have lagged far behind.
IP2Biz has spent the last six years working to understand the space between federally funded research and profitable commercial implementation. 90% of inventions from American research universities never make it to market. That large gap presents an unparalleled opportunity for early technologies. But most of the corporate world is avoiding or unable to exploit this potentially fertile ground. Why is that so, and why do we believe we have the experience to help companies succeed?
Our clients are corporations in America and around the world. Senior executives understand that constant innovation leads to higher shareholder value. But today’s economic pressures and global uncertainties have reduced the appetite for discovery and risk taking. Experiments with formalized attempts to pursue “Open Innovation” have only built cost centers which have produced few results. There is a growing realization that “nascent projects” – bold new initiatives identified by C-level executives – must be freed up to receive funding and resources from the corporation. Barriers which impede this forward motion include time limitations, budget limitations, risk of unproven technologies, staff shortages and constantly intervening shorter-term priorities. From Christensen, we know that corporations are good at sustaining innovation (around which they are organized), but usually fail at disruptive innovation. Game-changing projects remain captured in the top desk drawer.
The highly evolved IP2Biz process changes that. We have the ability to release a flood of profitable innovation for companies of all sizes and across many industries.