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Open Innovation

Innovation Budget Planning Considerations

As you start Innovation budget planning, here are eight things to consider:   When it comes to Innovation budget planning (and R&D), it is typically a laborious process that spans several months with business model canvases, business cases, proposals and pipeline discussions. I remember my inbox being flooded with documents, meeting requests and scientists pushing their research forward for my sponsorship. As Forbes magazine mentioned in an article last year “The presumption is that R&D spending is somehow connected to increased innovation, revenue growth and profits. However, leaders may be asking the wrong questions here. A focus on R&D spending might be a good way to gauge best practice within an industry, but it is not a measure of how innovative any company is. Having a great R&D process and achieving market success with the technologies we invent are two different things.” Nonetheless, budgets are the fact of corporate world and must be...

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Innovation Budget Planning Components Top 10

As a follow-up to our recent blog on “What to Include in Your Innovation Budget” we have created an innovation budget planning components list with 10 key items you should include in your innovation budget for the coming year.   As you will notice as you go through the budget checklist, some of the key components include taking advantage of external resources. As Benjamin Franklin said, “time is money,” so keep in mind that innovation planning may go beyond optimizing internal resources and require you to invest in outside resources in order to speed up production time.     With that in mind, here are 10 key components that should be a part of your innovation budget plan:   Innovation Budget Planning Components #1 Outside Consulting Ask yourself: Do we have the skills and resources necessary for our project research and development? Can we bridge the gap with outside consulting resources?   Whether you need help developing innovation and best practices...

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Ezassi to attend FEI Boston 2018

We will be attending the annual FEI Boston 2018 event. While there, we'll be showcasing our innovative platform and processes that have helped our client base increase user engagement, time-to-innovate, number of ideas and, most importantly, quantifying how it affects their bottom line. We'll be networking on location and attending social events to answer questions and ask some of our own. After working in various industries, we've found some similarities that make the innovation process effective and streamlined. We've seen first hand how developing a culture of innovation internally leads to higher employee engagement and empowerment that helps solve some your most vital problems.  Many companies are trying their best to create innovation within their companies but still struggle. We bring a level of expertise and processes to build and implement a culture of innovation successfully.   The FEI Boston Innovation Conference is designed to help you master the art of serious innovation with...

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himss conference 2018 speakers

[vc_row][vc_column][vc_column_text] Announcing The HIMSS Conference 2018 Speakers Lineup [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Today we are excited to announce the HIMSS Conference 2018 Speakers . The conference date is March 5 - 9, 2018 and will be held in Las Vegas, NV. The speaker lineup includes:[/vc_column_text][vc_empty_space height="15px"][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="15px"][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column width="1/2"][vc_column_text]Eric Schmidt, Financial Advisor, Former Executive Chairman of Alphabet Inc (Parent company of Google)   Machine learning and the cloud are fueling moonshots that are already changing how we fight disease and improve health for millions of people. But there’s still so much untapped potential. Healthcare is being transformed entirely, with each new technological breakthrough. During the opening keynote, Eric Schmidt will provide his perspectives on what we can do to speed up the progress and make sure technology is being put to its best use, making life better for people everywhere.[/vc_column_text][vc_empty_space height="40px"][vc_column_text]David Shulkin, MD, Secretary of U.S. Department of Veterans Affairs   The Honorable David J. Shulkin was nominated by President Trump to serve...

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creating a culture of innovation

As companies increasingly recognize the importance of innovation and disruptive solutions to remain competitive, the big question remains: where does innovation come from and how a culture of innovation be cultivated? While it might certainly seem like a big question with a complicated answer, for most companies the solution within reach more than they could have ever imagined. Contrary to popular belief, existing employees account for the vast majority of innovative ideas and the right software can help unlock innovation while also shifting the entire company culture.   Companies who feel static, often look to outside sources for new ideas, but studies show that internal employees actually represent the best source of innovative ideas. The real challenge is creating a culture of innovation where employees feel free to share ideas and question the status quo. Here we have put together some of our most important findings regarding these issues in the article,...

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