12. October 2011
Source: The Wall Street Journal
Why doesn’t Europe have its own Apple?
European leaders are relying on up-and-coming entrepreneurs to stimulate job creation and economic growth they desperately need to solve the debt crisis and cool social tensions, but industry watchers say rules, red tape and financial conditions are stifling the emergence of top-notch, high-growth businesses.
The European Union’s leaders have launched programs and tax breaks to tackle these problems, but some industry experts say they fall short:
too often they focus broadly across traditional Mom-and-Pop shops and fail to hone in on young, high-growth businesses that hold the key to job creation.
“If you’re looking for breaking new innovation and fast employment growth, which is high on the agenda now, it’s these young firms that are particularly promising,” said Andrew Wyckoff , director of the Organization for Economic Co-operation and Development’s industry directorate. There should be “a difference in policy between young firms and small firms.” Read the rest of this entry »
4. February 2011
Source: Technology Review
Offering your best ideas to others may sound like bad business. But it’s better than keeping them under wraps, explains Henry Chesbrough, the father of open innovation.
In the world of technology, new ideas rule. But that doesn’t mean companies should keep their research labs under lock and key. Henry Chesbrough, a professor at the Haas School of Business at the University of California, Berkeley, has spent years documenting the benefits of “open innovation.” Chesbrough recently told Tom Simonite, Technology Review’s IT editor for hardware and software, why it works.
Technology Review: What is open innovation?
Chesbrough: It’s the idea that companies should make greater use of external ideas and technologies in their own business and allow their own technologies and ideas to be used by others in their business. The term originated in 2003 when I published my first book on the topic. Read the rest of this entry »
5. January 2010
FastCompany commenting on a tricky matter:
Facebook has begun testing a system that’s in vogue at the moment: Using its own users as a data-crunching system. Nothing terribly new there–except that Facebook’s using its crowd to actually moderate the rest of the crowd and stamp out the nasty bits, which is a whole new ethically-intriguing level.
27. May 2009
Making the world’s knowledge computable
Today’s Wolfram|Alpha is the first step in an ambitious, long-term project to make all systematic knowledge immediately computable by anyone. You enter your question or calculation, and Wolfram|Alpha uses its built-in algorithms and growing collection of data to compute the answer. Based on a new kind of knowledge-based computing…
Still at an early stage and US-centric, but WolframAlpha clearly points out the fascinating direction we are heading. Watch the intro by Stephen Wolfram!
13. May 2008
A couple years ago I participated in a swarm intelligence session at a conference in Interlaken, Switzerland, and this event changed my direction of thinking – a lot. It was absolutely fascinating to observe how a large group of people starts developing it’s own collective thinking and achieves results that are above those of individuals in most cases, just as James Surowiecki indicates in „The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations“, first published in 2004. Earlier this year then I visited a speech in Vienna by Peter A. Gloor, Professor at the MIT Sloan School of Management, Helsinki University of Technology and the University of Cologne. Peter Gloor developed the topic in „Swarm Creativity: Competitive Advantage Through Collaborative Innovation Networks“, published in 2005 and together with Scott Cooper in „Coolhunting: Chasing Down the Next Big Thing“ in 2007:
Apple with the iPod and iTunes, Google with its search engine, AdSense and a whole portfolio of innovative new products, Toyota with the Prius hybrid car, Nespresso with it’s trendy coffee machines and companies such as Whole Foods Market with breakthrough management models always seem to have an answer to the question „What will be the next cool thing and market trend?“ The search for the source of trends was coined as „coolhunting“ years ago.
Gloor and Cooper deeply analyse what „coolhunting“ is really about in a world of connected thinking, social networks and global online communication. Their discoverings are tremendously exciting and explain how groups of people work together to innovate. Many of the best ideas don’t come from single individuals or corporate research labs, but from the collective efforts of groups of people (Collaborative Innovation Networks – COINs). Those networks operate best under certain pre-conditions such as non-profit common goals (many open source projects work under the same principles). Gloor and Cooper developed a tool that allows to analyse communication in such COINs and identify trendsetters.
More and more business leaders around the globe start realizing the benefits and enormous potential of collective minds when it comes to innovation. The collective wisdom of crowds is all present in our today’s world. I therefore was not surprised when I asked the students in one of my innovation management lectures, if they can imagine studying in a world without Wikipedia and the answer was – „NO“!
by Bernhard Hoetzl
“Coolhunting: Chasing Down the Next Big Thing” (Peter Gloor, Scott Cooper)