Are we getting real value out of innovation consultants?

When you stop and think about how innovation has been managed and understood over the years you soon realize how much has changed in this time.  It is very significant, yet there is still much to do. Innovation understanding is changing, certainly for the better and as it shifts our perspectives on where knowledge resides as this is altering.

Today I think we are yet again at yet another crossroads in this innovation understanding and perspective. That is to extract the leading edges required from their innovation activities within organizations. This will require fresh innovation consulting business models to exploit the growing complexity of managing emerging innovation practice to support and extend their understanding.

I’m attempting to get my head around it, let me share some of my thinking here.

There has been a continual shift of where innovation knowledge resides. The external provider, who was the main source of latest insight, hands on practice and leading ideas in the past, I think have been significantly falling behind in recent years, on their contribution and value to organizations. Continue reading

Open Innovation, Technology Platforms and a New Business Model- All-in-One Biggie!

Recently I was reminded about one of the most ambitious open innovation projects around- the Innovation Medicines Initiative- set up here in Europe. I think you will find this interesting to pick up upon.

Without doubt this is one of the most highly ambitious and bold initiative I’ve come across.

I think anyone seriously interested in the combination of open innovation, the use of a collaborative technology platform built around a novel new business model within such a highly competitive industry of Pharmaceuticals should watch this initiative with growing interest. It can point to significant changes in the impact and contribution of innovation management.

From its initial concept inception in 2004 and 2005, with the IMI established in 2007 as a Joint Undertaking, it has operated as an autonomous body for approximately a little over two years as I understand it.

Here I provide a fairly concise outline of its evolution and what challenges it is currently facing. It still is too long but it provides the essentials (I hope) on an amazing and bold initative here in Europe and worth reading until the end-really!

Background to the Innovation Medicines Initiative (IMI) Continue reading