Innovation Simplified

Last week, as part of a course on Product Strategy with the Birla Institute of Technology and Science, Pilani’s Work Integrated Learning Program, I was teaching a class on Innovation.

The key message: - Innovation and Invention are different.

The essence of most innovation: Solve problems in your domain in better ways by taking existing solutions from different domains and repackage them.

My favourite example to illustrate this is the robo-vacuum cleaner that became the rage during the pandemic. No new inventions here, but brilliant repackaging of existing inventions.

If that is a way to think of innovation, then the question is: What is your source of inspiration?

My tip to the cohort: PURSUE A Hobby.

Not at the surface level, but go deep.

For example, if you are a #Formula1 fan, try to understand what is happening on every possible aspect - historical context/ business dynamics/ people & leadership/ technology developments/ ....

If required invest in access to good content to get insights (which might be behind a paywall).

Would love to hear your approach for finding inspiration. Do leave a comment.

Story behind the pic - Back in 2011, a local FM radio station conducted a quiz on Formula 1, which I won. The Grand "Prix" was a Meet & Greet with Lewis Hamilton, who was driving with Vodafone McLaren Mercedes at the time. He was visiting Bangalore as part of a media event organised by Vodafone!