The fuzzy front end of Innovation Transforming Ideas into Profits September 26 th, 2009 Nancy MacCreery Panelists: Mike Londo and Shimon Shmueli.

The fuzzy front end of Innovation

Transforming Ideas into ProfitsSeptember 26th, 2009

Nancy MacCreeryPanelists: Mike Londo and Shimon Shmueli

appreciates our sponsors very much

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Why we are here

Objective: Insights into innovation process

Process:• overview• panel discussion• audience questions

Introductions

Shimon Shmueli • Founder of Touch360, a product design and

innovation firm, • Worldwide marketing manager of ThinkPad

consumer products. • Inventor of the USB Flash Drive. Visionary,

founder and CTO of KeyNetica, which is now part of San Disk

• Speaker / lecturer

Introductions

Mike Londo• Holds six patents • Innovating for the last 25 years • Developed and commercialized new products

ranging from carbonless copier paper to sound enabled school products

• “idea guy”• Published / presented internationally

Introductions

Nancy MacCreery• Marketing professional with innovative focus• Background in process and product

innovations• Worked on product innovation teams, led

brainstorming sessions, and formulated processes to create concepts, names and branding

Why innovation?

Gain competitive advantage• First entry advantage• Satisfy customer needs• Provide a new/better

solution• Enter new markets

Basic Questions

• What is needed? (what do they need?)• What can we do with this? (technology or new

discovery)• Is this the most effective way? (process

innovations)• Do we really need this?• Can we make it sustainable?

Types of innovation

• Business Model – changes in the way you do business (Apple, Dell, IKEA, Intel)

• Process – changes in the way you make, deliver or handle business processes (Wal-Mart, Toyota)

• Product -- product or service change

What is the Fuzzy Front

End?

Innovation Starts Here

Process Diagram

EXPAND IDEA PICK BEST APPLICATION

EXPLORE POSSIBILITIES

IDEA

Develop Value Proposition

Basic Value proposition: What it does to whom; solving

what problem?

Idea generation

Starting with need or technology

Expand idea

What does it do?What problem does it solve?What else can it do?Who else can use it?What do we do with this? Where can we use this?Where else can this be used?

Explore possibilities

Who would use this?What are attractive applications?Is there a market or would we have to create one?Can we make it, can it be made?

Screen/pick best application

Fit with Strategy/MissionCompellingness of needMargin/Profit potentialMarket sizePotential Market growthBarriers to entry – competition, customer powerFit with capabilities/resources

“Killer Application”

• Most viable application from criteria screening

• May need to refine Value Proposition

• Keep in mind: Can this be applied to other markets later?

Questions and Examples

Speaker contact info:

Shimon - [email protected] Mike - [email protected] - [email protected]

Thank you!

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