Innovation Is as Much About Finding Partners as Building Products

by Chandra Gnanasambandam and Michael Uhl

This is an incredible moment for innovation. Previously unthinkable opportunities to reinvent complex, established industries are now being made possible by the convergence of cloud computing, new analytical tools, and the data flowing from a host of new sensors in the physical world. To revolutionize old industries, small and big companies alike must get past competitive angst and embrace their strengths and weaknesses. Such collaboration can take many shapes. These are new, unique partnership models in which corporations bring assets, the ability to rapidly test and scale, and a deep understanding of the regulatory landscape. Startups inject new technical expertise, and venture capitalists offer funding and access to new talent. To seize the opportunity before us, collaboration across the economy must become universal. Yesterday’s model of innovation is no longer adequate — instead, the entire ecosystem must work together. Smart companies, founders, and investors that recognize this have a far better shot at making history, rather than running the risk of becoming a footnote to it. (Read the full article)