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Hello, my name is Eugene Buff,
I'm the founder and the president
of Primary Care Innovation
we'll talk about innovation
and not just about innovation,
but about how to make
and that would be
the "Customer Driven Innovation".
When I talk about innovation,
technology, technology transfer,
I very often start with this slide,
which I consider, almost, the oral story.
I'm sure you saw a different
iteration of that slide,
but it basically describes
the technology lifecycle
from an idea to a successful product.
And there are several things,
data points on the slide,
that make it really look scarier
innovation and technology
One, it shows a very low efficiency
of the process of innovation.
You can see that we start from
about 1000 ideas
and only one ends up
to be a success story.
Another unpleasant part
of this graph,
you can see that
it takes a lot of time
get even to the zero point
with your technology.
And of course,
the third scary part of this slide
is the Y-axis that shows the money.
As you can see most of this slide
was below the zero line,
which means that we're spending
way, way more money and time
on developing something
that will not be a success story.
So with that I think that there are
three major things that we all,
and innovation professionals,
try to solve.
One is, how could we be
more efficient, right?
What can we do to change this ratio
of 1000 ideas to one product?
Can we do it faster?
I mean, the reality is,
in today's business culture,
the speed of business
is much faster,
we cannot afford to spend 10 years
to figure out
if the idea is reasonable or not.
And, of course,
we want to figure out
how we can save
or spend less money on doing this.
So these are the major challenges
or innovations for professionals.