The Current Innovation Landscape
Everyday all around the world thousands of visionary entrepreneurs are inventing new products and services with great ideas, enabled by their creative concepts. Their goal is to create great companies driven by their innovation to make money as well as create a better world. However, breakthrough innovations do not materialize until inventions are successfully transformed into commercial applications. Entrepreneurs today struggle with these challenges during that transformation process, ideas fall into “Valley of Death”, thus most of the startups fail in the first year.
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In today’s fast pace global economy, the ecosystem for innovation will extend well beyond conventional, technological concepts. It will enable a rapid process from formulation of new ideas, through applied research, development of Minimal Viable Product (MVP), to evaluation for commercial viability, market acceptability and commercialization.
What are the Challenges for Entrepreneurs?
One of the shortcomings of such method is after the completion of applied research projects, it is very slow to transfer results of research into marketable products. Sometimes it never materializes due to inability of the startup to identify market demand, high investment required, missing right talents, regulatory obstacles etc. As Eric Ries, author of the book “The Lean Startup”, says, “A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty”.
Therefore, traditional management and accounting practices, mostly driven by existing and historical company data do not apply to startups, because these newly created businesses do not have data to measure the progress or forecast the future. Missing business data puts startup companies in “extreme uncertain” conditions.
Since startups are stressed with lack of financial resources, attracting and retaining the “best”, hiring highly skilled people to an uncertain environment are very difficult. Besides, their product is unproven on the market. An early-adaptor customer must take a similar risk like the startup to test the product and use it on a pilot basis. These are a few challenges startup management faces every day.
What is Innovation Management?
Innovation Management in a Startup environment is about constant learning. It is a structured learning process, from failures, from the progress, from feedback received from analysts, experts and potential end-users. It is all about how to measure, analyze the small batches of data collected and how to optimize the processes. It is a different management methodology based on the ability to learn from the short milestones, how effectively management measures and analyzes the data, determines whether they proceed to the next step, conduct further rigorous testing or go back and reevaluate their strategy or even the original idea. Sometimes management may have to make the toughest decision: Give up before it is too late!
What do we do at iBC Insights LLC?
Sinan Tumer, an Innovation Strategist founded iBC Insights LLC to mentor and advice entrepreneurs to overcome these challenges in their innovation journey. iBC Insights LLC partners with high-tech Startups, Scaleups, University Startups and Innovation Incubators to develop their innovation strategy, innovation culture, business plans, technology transfer processes to commercialization with focus on investment assessment.
SELECTED INNOVATION PARTNERS OF iBC INSIGHTS LLC
Naqi Logics LLC
What if you were able to control your computer and devices without looking at them, touching them or speaking to them? What if you were able to communicate with other individuals in a completely silent and invisible manner?
With our unique and exotic technology, users will be able to communicate non-verbally with anyone, anywhere in the world, or control a computer system anywhere in the world— even if you’re nowhere near the computer and without need to view a monitor: Hands-free, voice-free, touch-free and discreet.
One of our core missions is to change the world by providing those in need with a reliable non-invasive means of controlling their environment as well as freely navigating computer systems. Those with quadriplegia or ALS will now be able to live a more normal life and have a stronger command of their home and device technology. Our soldiers will now have a means of silent, invisible and secure non-verbal communications without being forced to take their hands off their weapon or taking their eyes off the target. Veterans who have experienced traumatic amputations will now be free to type emails, browse the internet or control their wheelchair, all without the need for voice commands.
Naqi Logics possess the greatest patent portfolio in the world in regard to non-tactile control of information systems. Its framework will revolutionize the Defense, Healthcare and Gaming industries. In many ways, our technology seems like magic and we have only just begun our journey. In close cooperation with iBC Insights, our magic will soon make the world a better place for millions around the world.
Professional development is expensive, time consuming and inconvenient, while online content is quickly forgotten. To help companies overcome these challenges, Interflexion Inc. is pioneering the development of intelligent software that helps aspiring professionals develop their leadership and interpersonal skills through guided practice and personalized feedback.
Combining advances in natural language processing and interactive UX with proprietary analytics on an AI platform, the Interflexion app engages trainees in memorable role-playing situations where professionals learn to interact more effectively and harmoniously with their colleagues. Interflexion is positioned to create best practices in “smart” training and deliver to everyone, anytime on any device. iBC Insights is working closely with Interflexion as it brings its first product successfully to market.