Many are trying to come up with innovative ideas daily and if you are thinking hard, you can come along at least 10 such ideas daily which excites you and you want to start working on them right away. But before diving into it, you need to understand that this idea which will be converted into a product meets some basic approaches in selecting one.
Here, a Phd inventor who had a long career in B2B business along with B2C business throws light on some fundamental things which one needs to take care before putting resource and money on it.
Two kinds of RnD projects are undertaken for any technological innovation & creating new markets all together. This is different than disruptive innovation I talked about in the earlier posts. This is not just bringing some technology in market and make if accessible and affordable, rather this is near to new use case of technology combining different fields of science.
Those 2 approaches are
1) SEEDS : Based on available technology SEEDS /set of technologies, a problem to be solved is selected
2) NEEDS : Out of human needs, a problem to be solved is selected.
When it comes to technological innovation one has to select based on NEEDS to realize it`s full potential. This is a basis of selecting a problem to be resolved. This separates a fancy non-useful invention from a really useful ones. Innovation has to stem from the needs. Picking such theme is a vital first step towards making some new and useful.
Once you have selected that pass it through this 4 level filter.
Level 1) Check it is no available elsewhere and even if it available it is implemented in a lousy way and inventors kind of given up on that idea and unable to take ahead at all.
Level 2) Validate that it is something which people really want
level 3) Make sure the end result make people`s life better
Level 4) Has a substantially high technological hurdle or requires collaboration from multiple scientific and engineering disciplines.
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