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Entrepreneurship & Innovation Management

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Entrepreneurship & Innovation Management

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  1. Entrepreneurship & Innovation Management 13BSC522 – Lecture 2

  2. By the end of this session you will understand • How innovation is classified – types and patterns • Where innovation takes place • How we measure how innovative an organisation is INNOVATION PROCESS Idea: Select: Implement

  3. Types & Patterns of Innovation

  4. Write down every category of innovation you’ve ever heard of e.g. Product Innovation

  5. 3 Main Categories

  6. Degrees of Innovation

  7. Radical to one is incremental to another

  8. Competence Enhancing/Destroying Innovation

  9. Component Innovation An innovation to one or more components that does not significantly affect the overall configuration of the system

  10. Patterns of Innovation

  11. S-Curves % of US Households

  12. S Curves in Technological Improvement Performance Effort & Money Invested

  13. Sony Reinvents the Phone

  14. Invention v innovation

  15. When did you last use your Spangler? Innovator Inventor

  16. Penicillin

  17. Ideas can come from anywhere

  18. Public Sector Sources of Inventions & Innovation • Universities • Public Sector Research Establishments • Medical Research Council • British Geological Survey • English Heritage • Environmental Systems Science Centre • Forestry Commission Research Agency • Health service (the NHS) • The Ministry of Defence

  19. Loughborough Inventions • Assessment of Landslides using Acoustic Real-time Monitoring Systems (ALARMS) • Dual Flex Footwear • Flexible solar cells with integrated super-capacitor • Respibelt • Hot pants!

  20. Innovative companies seek ideas from universities

  21. Ivory Tower or Open Door? Small companies are not good at accessing university knowledge (generally)!

  22. Three main University activities • Teaching • 16,703 students • Research • £37.3 million • Enterprise • Knowledge transfer to industry and the public sector • Spin-out companies & University subsidiaries • Student enterprise

  23. Third Stream Activity Funds… • University knowledge transfer offices/ knowledge transfer professionals • Training in entrepreneurship & innovation (especially for undergraduate & postgraduate students) • University Innovation Centres • Accommodation for University spin-out companies

  24. Measuring how innovative an organisation is • Number of patents • R&D expenditure • Number of new products and services

  25. Economic Measures of Innovation

  26. You should now understand • How innovation is classified – types and patterns • Where innovation takes place • How we measure innovation INNOVATION PROCESS Idea: Select: Implement