INNOVATION

Is the way You Fund Innovation Wrong?

A discussion on business investment in research and development

Paul Myers MBA
Apr 26, 2020 · 5 min read
A digital sketch showing a collection of people in a room — Is the way Your Funding Innovation Wrong? by Paul Myers
A digital sketch showing a collection of people in a room — Is the way Your Funding Innovation Wrong? by Paul Myers
Image by Gerd Altmann from Pixabay

1) Innovation → 2) Marketing → 3) Sales

The Trainwreck

“Insanity is doing the same thing over and over again and expecting different results.”

“When you look carefully at the nature of corporate labs and venture capital-backed firms, you see that there are both very real strengths and some serious limitations.” (Lerner, 2012)

Research Shift

Image of the globe overlays three people at work — Is the way Your Funding Innovation Wrong? by Paul Myers
Image of the globe overlays three people at work — Is the way Your Funding Innovation Wrong? by Paul Myers
Image by Gerd Altmann from Pixabay

“Often with dreadful consequences.” (Lerner, 2012)

In 2012, Kodak filed for bankruptcy.

“They decided that they were getting the most sales from the traditional phones, so they focused on that, and the opportunity came and went.” (Lerner, 2012)

Architect

Final Thoughts

“I don’t present these approaches as cure-alls, saying if you just run a contest or a corporate venture program everything’s going to be wonderful. But there’s a lot of promise and potential in this tool kit.” (Lerner, 2012)

Some Takeaways

Corporate leaders and Startups must lobby policymakers relentlessly, as if their future depends on it, because it does!

A word jigsaw surrounding Innovation — Is the way Your Funding Innovation Wrong? by Paul Myers
A word jigsaw surrounding Innovation — Is the way Your Funding Innovation Wrong? by Paul Myers
Image by Gerd Altmann from Pixabay

The Startup

Get smarter at building your thing. Join The Startup’s +787K followers.

Sign up for Top 10 Stories

By The Startup

Get smarter at building your thing. Subscribe to receive The Startup's top 10 most read stories — delivered straight into your inbox, once a week. Take a look.

By signing up, you will create a Medium account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.

Check your inbox
Medium sent you an email at to complete your subscription.

Paul Myers MBA

Written by

Top writer in Business, Leadership, Entrepreneurship, Startups & Innovation. Interested in all things E-commerce — https://www.linkedin.com/in/paul-m-ecommerce/

The Startup

Get smarter at building your thing. Follow to join The Startup’s +8 million monthly readers & +787K followers.

Paul Myers MBA

Written by

Top writer in Business, Leadership, Entrepreneurship, Startups & Innovation. Interested in all things E-commerce — https://www.linkedin.com/in/paul-m-ecommerce/

The Startup

Get smarter at building your thing. Follow to join The Startup’s +8 million monthly readers & +787K followers.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store