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The fuzzy front end of Innovation

The fuzzy front end of Innovation. Transforming Ideas into Profits September 26 th , 2009. Nancy MacCreery Panelists: Mike Londo and Shimon Shmueli. appreciates our sponsors very much. _____________________________________________________________________. Why we are here.

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The fuzzy front end of Innovation

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  1. The fuzzy front end of Innovation Transforming Ideas into Profits September 26th, 2009 Nancy MacCreery Panelists: Mike Londo and Shimon Shmueli

  2. appreciates our sponsors very much _____________________________________________________________________

  3. Why we are here Objective: Insights into innovation process Process: overview panel discussion audience questions

  4. Introductions Shimon Shmueli Founder of Touch360, a product design and innovation firm, Worldwide marketing manager of ThinkPad consumer products. Inventor of the USB Flash Drive. Visionary, founder and CTO of KeyNetica, which is now part of San Disk Speaker / lecturer

  5. Introductions Mike Londo Holds six patents Innovating for the last 25 years Developed and commercialized new products ranging from carbonless copier paper to sound enabled school products “idea guy” Published / presented internationally

  6. Introductions Nancy MacCreery Marketing professional with innovative focus Background in process and product innovations Worked on product innovation teams, led brainstorming sessions, and formulated processes to create concepts, names and branding

  7. Why innovation? Gain competitive advantage • First entry advantage • Satisfy customer needs • Provide a new/better solution • Enter new markets

  8. Basic Questions What is needed? (what do they need?) What can we do with this? (technology or new discovery) Is this the most effective way? (process innovations) Do we really need this? Can we make it sustainable?

  9. Types of innovation Business Model – changes in the way you do business (Apple, Dell, IKEA, Intel) Process – changes in the way you make, deliver or handle business processes (Wal-Mart, Toyota) Product -- product or service change

  10. What is the Fuzzy Front End? Innovation Starts Here

  11. Process Diagram EXPAND IDEA PICK BEST APPLICATION IDEA EXPLORE POSSIBILITIES

  12. Develop Value Proposition Basic Value proposition: What it does to whom; solving what problem?

  13. Idea generation Starting with need or technology

  14. Expand idea What does it do? What problem does it solve? What else can it do? Who else can use it? What do we do with this? Where can we use this? Where else can this be used?

  15. Explore possibilities Who would use this? What are attractive applications? Is there a market or would we have to create one? Can we make it, can it be made?

  16. Screen/pick best application • Fit with Strategy/Mission • Compellingness of need • Margin/Profit potential • Market size • Potential Market growth • Barriers to entry – competition, customer power • Fit with capabilities/resources

  17. “Killer Application” • Most viable application from criteria screening • May need to refine Value Proposition • Keep in mind: Can this be applied to other markets later?

  18. Questions and Examples

  19. Speaker contact info: Shimon - shimon@touch360.com Mike - michael.londo@gmail.com Nancy - nancy.maccreery@yahoo.com

  20. Thank you! _____________________________________________________________________

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