I was invited to participate in an innovation workshop down at UIC’s Innovation Center today, exploring methodologies for creating sustained breakthrough innovation in the enterprise. Great set of folks there, including from Caterpillar, Con Agra, ITW, SRAM and many others.
A couple of interesting nuggets:
- One research study across about 22,000 new product launches, showed that only about 7% of them were “breakthrough”
- However, breakthrough innovations yield 50x the returns of incremental innovations
Running out of gas tonight – more info to follow in a future post.