MECHANICS OF INNOVATION

Innovation is more than creative ideas. It is in large part the execution of the ideas. Too often innovation is only associated with the moment of inspiration. The commercialization of a creative solution is a critical part of the innovation process. The five components of the innovation ecosystem work together to facilitate the generation and commercialization of new ideas. The fuel for innovation is new knowledge, experience, and relationships within the network. To ensure these inputs are available within the ecosystem and each actor is prepared to recognize and act on them, the following characteristics and operations are essential.