on innovation and failure: iitp conference oct 25 2013, lance wiggs

Innovation and Failure

Lance Wiggs Punakaiki Fund

IITP Conference, 25 October, 2013

What is innovation?

Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.

!e Unexpected

!e Incongruity

Process Need

Industry Structure

Demographics

Perception, Meaning

New Knowledge

𝟕 Sources of Opportunity

!e Prize

120 companies

120 inspired entrepreneurs

An additional $40 billion/annum in exports (double our present exports)

"e great challenge

Why would such businesses want to stay

in New Zealand?

“A place where great talent wants to live”

$40 billion

$40 billion

$140 billion GDP

$12.5 billion Education spend (2013)

$58 billion Core Crown tax revenue, FY 2013

$14.5 billion Health spend (2013)

"e World

"e Country

End Users & Customers

Suppliers

Government

Staff

Investors

You

!e Path

INVESTORS COMPANIES CUSTOMERS END USERS

Have funds

Seek returns

Create products

Seek paying customers

Have money

Seek value for end users

Have unmet needs

Seek delight

TECHNOLOGY

INVESTORS COMPANIES CUSTOMERS END USERS

Have funds

Seek returns

Create products

Seek paying customers

Have money

Seek value for end users

Have unmet needs

Seek delight

© 2012 Emirates Team New Zealand

Learn Grow Expand Return

Eric Ries, !eLeanStartup.com

“Startups exist not to make stuff, make money, or serve customers. !ey exist to learn how to build a sustainable business.”

Question: When will we see in the annual report, bo#om line: profitability?

Do the basics

Us

Do I have any power?

lusakatimes.com  

Lusakatimes.com

Is there a path ahead?

Memo to the Boss of Bosses

We need to change, and here is why, and what I suggest: 1.  !e team is under-delivering versus goals 2.  We have no goals to begin with 3.  And the team itself is demotivated And I suggest: 1.  We set goals for the team 2.  We begin monthly/weekly reviews 3.  We appoint a team leader. Me

Grow

Dear Boss of Bosses,

Goodbye.

Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.

"e World

"e Country

End Users & Customers

Suppliers

Government

Staff

Investors

You