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0:00
My name is John Bessant.
I'm Emeritus Professor of
Innovation and Entrepreneurship
at the University of
Exeter in the UK.
This talk is all about how
we capture value
from innovation.
0:15
Innovation is about
creating value from ideas.
That's hard enough to do
just making the journey
from bright idea or
gleam in the eye,
to actually launching
something onto the market.
But the bad news is that that's
only halfway along the road.
To really capture
value from our ideas.
We need to move our
innovation to scale.
This process follows
an S-curve over time
with a few people
adopting early on,
and then, hopefully,
an acceleration
as our innovation
diffuses widely.
0:47
Successful innovators
can make mistakes.
Even though they've learned
and built capabilities,
they can still get it wrong.
Sometimes, spectacularly so.
Take the case of Toshiba.
Certainly not a new
kid on the block,
but a respected innovator
for over nearly 150 years.
Not just a one-hit
wonder, either.
Its success pedigree
includes light bulbs,
memory chips, video recorders,
TV sets and DVD equipment.
They also understand
the challenges
of bringing
innovations to scale.
For example, they are
credited with bringing
the notebook computer to
the mass market with
their 1100 series.
Yet, they lost out big
time in their attempt
to put high definition
DVD into play,
losing the battle to Sony
and its Blu-Ray system
and around 1 billion
dollars in the process.
1:38
Or Clive Sinclair,
one of the creators of the
personal computer revolution,
whose ZX family of
machines spawned
a generation of programmers
and helped move the
technology to the mainstream.
Despite his success
with computers,
millions of units
sold worldwide,
he managed to fail very publicly
with his later venture,
the C5 electric vehicle.
