“The challenges between the C-suite and R&D organization is that the R&D organization wants to innovate, but often the C-suite has created a company through just evolution that is really unable to take those innovations and commercialize them efficiently.”
Often the problem is the size of the innovation. If a large corporation is producing products and services that generate billions of dollars, they’re not going to be moved nor care about an innovation that only generates millions of dollars. It’s not worth it to them to take on that kind of risk. But the reality is products that generate billions today didn’t start out that way.
As Jung explains, “it has to be small first before it becomes big.”
To avoid the risk of innovation yet still participate in new ideas that become profitable, companies will sometimes let the marketplace play itself out and then purchase a company that has proven itself to be innovative. There’s no risk, but the cost to purchase could be enormous.
Jung recommends a happy medium between the high risk of doing all the innovation yourself, and the low risk of purchasing a successful company at a potentially high cost. Instead, allow the R&D department work with other partners who may be outside of the company.
“That will help de-risk the development and commercialization of their own technologies to make it more palatable to the C-suite and the investors of the multinational to use,” said Jung.
Led by Edward Jung, one of history’s top-12 inventors, Xinova has the most diverse and accomplished innovation team in the world. Our executive team of thought leaders, problem solvers, and innovators includes the inventor of the laptop computer and the architect of the mobile phone revolution, amongst many other historic accomplishments along the way to earning positions such as CEO, EVP, or Managing Director with multinationals like Shell, Nokia, Xerox, Microsoft, United Technologies, Dupont, Intel, and HP. Combined, they have raised and managed billions in invested capital. Xinova team members boast impeccable credentials in science, entrepreneurship, invention, and R&D. More than 20 Xinova employees hold doctorate degrees, providing expertise in nuclear physics, materials science, biomedical engineering, computer science, biophysical chemistry, theoretical physics, and AI. This team has led over 300 licensing deals, managed over $9 billion in licensing transactions, managed 8 of the top 30 inventors in the worlddefined over 400 distinct problems, and given companies like Pepsi access to thousands of solutions which we have selected and developed into prototypes and product ready propositions.
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