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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

The fuzzy front end of Innovation

Transforming Ideas into Profits

September 26th, 2009

Nancy MacCreery

Panelists: Mike Londo and Shimon Shmueli


appreciates our sponsors very much

_____________________________________________________________________


Why we are here
Why we are here

Objective: Insights into innovation process

Process:

overview

panel discussion

audience questions


Introductions
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


Introductions1
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


Introductions2
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


Why innovation
Why innovation?

Gain competitive advantage

  • First entry advantage

  • Satisfy customer needs

  • Provide a new/better solution

  • Enter new markets


Basic questions
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?


Types of innovation
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


What is the fuzzy front end
What is the Fuzzy Front End?

Innovation Starts Here


Process diagram
Process Diagram

EXPAND IDEA

PICK BEST APPLICATION

IDEA

EXPLORE POSSIBILITIES


Develop value proposition
Develop Value Proposition

Basic Value proposition:

What it does to whom; solving what problem?


Idea generation
Idea generation

Starting with need or technology


Expand idea
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?


Explore possibilities
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?


Screen pick best application
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


Killer application
“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?




Thank you!

_____________________________________________________________________


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