Innovation by recombination
are you still brooding, or are you already combining?
Recombination: use the best of existing solutions and shape new paths of success creatively
Innovation speed and dynamics highly gain momentum. Markets transform rapidly. Competition gets stronger and more and more diffuse. Day by day, our EARLY BRANDS Scouting Experts identify new innovations and technologies that have the potential to change whole markets and industries. Plus, many agile startups which operate different than usual.
How to keep pace with high innovation speed? How to keep the ball rolling?
First, it is not about chasing innovations. It is more about identifying new opportunities proactively + creating new innovations out of them. Something new. Something that enables to differentiate from existing solutions. The basis for success: market and customer relevance. What is the problem we want to find a solution for? How can we solve problems better than existing solutions already do? What enables us to inspire customers?
For this purpose, the wheel does not have to be reinvented in most cases. Often, similar problems have already been solved in other markets. Keywords: inspiration and innovation impulses. Already Joseph Schumpeter has known: about 80% of all innovations consists to a substantial extent of a recombination of knowledge that already exist. A few examples for that:
As a family man the founder of Toniebox identified the following problem: the CDs of his children scratch and rapidly become useless. Thus, his idea for the Toniebox arises. An audio system specifically made for children combining products and technologies that already exist: radio play + toy + audio system + speaker. A creative combination that raises more than € 50 m within the last two years.
Instead of selling tools to customers, Hilti took advantage of the rental model of other industries. They offer tools for rent + a precise fleet management + comprehensive services. A successful combination for high customer value for a great customer base.
Another example: the snowmobile. A recombination of many different products: tank + ski + motorboat + bicycle. Or: running sushi by which functionality of industrial assembly lines is used for higher customer experience in restaurants. And looking back a long way, we see that already the invention of the typewriter has been inspired by existing knowledge: 10-finger piano playing …
Recombination is not equal to copy-cat. Creativity, an open mind and passion to creatively shape new ideas is needed. Use the best from existing solutions + combine it with new knowledge to create new path for innovation. Important for that: think and act across markets and industries. Consider and multiply different innovation categories from product to service through to new business models. Proactively scout for innovation and technology opportunities + identify and adapt innovation impulses, best practices and success stories early.
Essential for that: people. Brilliant minds + different perspectives. Having a great knowledge base is a good starting point. But using it creatively, filtering the best out of it, and developing innovations through recombination requires interaction between people, creativity and ingenuity.
Catch the Future…!