Companies that fared the best during the pandemic were those who innovated quickly. With app based and digital innovation alongside their traditional business models, these companies are now seeing permanent shifts in the behavior of consumers and must continue to innovate to remain competitive.
You’re thinking about taking the plunge and starting your own business. You have an idea, you have a plan, and you have a market. And the thought of being your own boss, embracing entrepreneurship, and charting your own course is appealing. So, what’s the holdup?
Have you ever set a Big Hairy Audacious Goal (BHAG) for yourself? For entrepreneurs and industry partners, that’s where Georgian College’s Research, Innovation, and Entrepreneurship (RIE) department comes in. Our mission to Educate, Inspire and Activate means we work with individuals like you to start, grow, or scale your business. Through mentorship, educational programming, networking events, or grant funding, we can give you the tools you need to make your BHAG a reality.
R&D is difficult enough when one considers just the iteration aspects. However, complex products and services can layer on extensive research, collaboration needs, and project management requirements. Add to that the data organization and analysis needed to conduct efficient R&D programs that deliver results, and the load can seem overwhelming.
A true innovation in business goes well beyond the dry, clinical definition and encompasses many things. This includes vision, real-world experience, hardcore R&D, frequent failure, continuous iteration, to name a few. In fact, the actual definition of innovation is so entrenched in these concepts that a single line can’t define it. It is a process that takes skill, training, and critical thinking to master, none of which are included in the dictionary definition.