An entrepreneur's perspective the various dimensions, challenges and characteristics of Ideation and Innovation.

1. Ideation and Innovation
Keys to Entrepreneurship in the New World
September 3rd, 2010
AKKA 6th WORLD CONFERENCE
© 2008 RVP Confidential

2. Ideation and Innovation
Things covered
• Definition
• Process of Ideation
• Entrepreneurial Case Study
• VOC - The Product Triangle Redefined
• Characteristics of Innovators
• Types of Innovation
• Trends in Innovation
• What Next ??
• Ideation & Innovation Resources
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3. Ideation and Innovation
What is the definition??
Ideation - the process of forming and relating ideas.
Innovation - the use of pre-existing or emergent
ideas and technologies in new and creative ways
never used before.
The Entrepreneurial Context:
The successful exploitation of ideas generated at the
intersection of invention and insight, which leads to the
creation of social or economic value.
Or Simply put: Innovation is the profitable implementation of Ideas.
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4. Ideation and Innovation
The Process of Ideation
• Brainstorming
• Mind Mapping
• Word Cloud
• Scamper ….
Product/
Ideation Innovation Market
Fit
Ideation is a Structured and Reiterative Process
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5. Ideation and Innovation
Entrepreneurial Case Study
1. $200K seed funding - Cryptography
“No one really needed it” Max Levchin
2. $4.5M VC funding - PDA Payments
People preferred web demo (100X users)
3. $1.5B sale to eBay – Web Payments
Peter Thiele Co-Founder PayPal – Angel Investor in Facebook, Linked In, Friendster etc.
Max Levchin Co-Founder PayPal – Founder of Slide – sold to Google for approx 200M
“Life of any startup can be divided into two parts - before Product/Market fit and
Marc Andreessen
after Product/Market fit” Founder Netscape, Opsware, Ning
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6. Ideation and Innovation
Changing Customer Expectations
• The Product Triangle
Fast Good Fast Good
Cheap
Cheap
Conventional wisdom – Pick any two Breakthrough Innovation – All three
And I will tell my entire 100K+ social network about you!!!
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7. Ideation and Innovation
Characteristics of Innovators
1.Child like Curiosity
2. Vivid Imagination
3. Unconventional Intuition
4. Inquisitive Inventiveness
5. Incorrigible Passion
6. Creative Flexibility
7. Relentless Persistence
8. Supercharged Energy
A constant desire to challenge the
Status Quo
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8. Ideation and Innovation
Types of Innovation
Demographic Innovation
• Different market segments
• Race, Age, Gender, Geo
• Cultural, ethnic and market fit
Efficiency Innovation
• Reduce expenses
• Faster, Cheaper, Better
• Process Transformations
Evolutionary Innovation
• Add/Modify Functionality
• Lateral Product Suite
• Extend brand/product line/life
Disruptive/Revolutionary Innovation
• Create New Markets
• Create New Strategic Assets
• Launch New Businesses
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9. Ideation and Innovation
Trends in Innovation
How long does it take to get to 50 million users?
Phone 74 years Internet 2 years
Radio 38 years Blogs 1 year
TV 13 years Farmville 9 Months
Facebook crosses 500 Million Users in August 2010 – Within a period of 5 Years!
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10. Ideation and Innovation
What Next
• Prototyping
• Funding
• Market Fit
• Sustainability
• Growth
Prototype a lot, fail often, and fail early
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11. Ideation and Innovation
Ideation & Innovation Resources
“If you're not failing every now and again, it's a sign
you're not doing anything very innovative.
- Woody Allen
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12. Ideation and Innovation
About me
Avinash has close to two decades of rich experience in the areas of Global Cross
Border Collaboration, Software Product Development, Offshore Outsourcing and
Professional Services.
He has a deep understanding of Viral Marketing, Search Engine Optimization, Mobile
Applications, Semantic Web Frameworks, Health 2.0 Concepts and their application to
socio-behavior patterns of various customer demographics.
Avinash is currently the CEO and Founder of Healthji, India’s premier Health and Wellness Portal leveraging
Web 2.0 concepts and frameworks. Healthji offers innovative products, services and content to the Global
Indian Community as well as to Corporate India for improving the Health and Wellness of Employees.
He is an Investor/Advisor in Destar Inc.; a premium Integrated Advisory Services firm based in the US. He
provides Go-to-Market Strategy, Organizational Growth Strategy, M&A Advisory, Change Management,
Leadership Transformation and Consulting Services as part of this.
Avinash also serves as the MD of Excel Ventures, an early stage Incubation fund which invests in the
Technology, Healthcare and Education segment primarily in the Indo-US Corridor.
Prior to this, Avinash was a founding member and Chief Operating Officer of Birlasoft where he ran the global
sales and operations.
Avinash is a BS in Electronics & Electrical Engineering and a qualified Chartered Financial Analyst (CFA). He
is an alumnus of the Harvard Business School (HBS) where he completed his Advanced Management
Program (AMP) and is the elected Secretary of his Class.
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