An entertaining and educational TED Talk by Joi Ito (Director, MIT Media Labs) about how innovation has evolved after the introduction of the internet. Here are a few of the insights he shares:
- Innovation has moved from the MBA model (create a business plan, acquire resources, hire engineers to build a product) to the Designer/Engineer model (build something first then focus on funding and business plans). Think Agile model applied not only to software engineering, but other engineering fields as well including bioengineering, electronics etc.,
- Pull vs Push. Pull resources as and when you need them, rather than focusing on acquiring all the resources first.
- Deploy or Die. All innovations have to make it into the real world, for it to count
- Education is something others do to you. Learning is something you do to yourself.
- Compass over map. Don’t try to plan out everything before hand. One cannot account for everything and as a result, the effort will be expensive and inaccurate. Instead, focus on the end goal and learn along the way.
I am in lockstep with his ideas about innovation and would also add couple more to the list including: Being curious and seeking to learn every day, and being flexible and adaptable to the ever changing environment.