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Here’s Zero-In this week, reflecting on what barriers to innovation need to be removed for us to have a thriving entrepreneurial ecosystem. Read my new Forbes column, Barriers To Innovation.
This segment is a part in the series : Forbes Column 2009
The innovation machine that once was the American economy has come to a halt. Technology has reached a point where a small investment will no longer fund a great idea. It has become very capital intensive. Corporations use outdated metrics to evaluate projects such as internal rate of return. The sheer volume of capital required to undertake an innovative project, using traditional metrics forces management to forgo the project. One solution to promote a more innovative atmosphere is to adopt an open innovation business model. An open innovation model invests in technology from outside the company’s own R&D. Cisco adopted this model and has proved to be very successful.
Sramana Mitra's Biography
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