By Guest Author Soren Petersen Identifying and attracting potential startup firms has so far been a game of chance, with far too much money chasing far too few opportunities. Those most experienced at this game are leading Silicon Valley Venture Capital firms (VC firms). Studies at Harvard University show that entrepreneurs receiving financing from VC
By Guest Author Soren Petersen Startups’ biggest challenge is designing a Minimum Viable Product (MVP) and using it to prove that a niche with paying customers can be profitably acquired. Seemingly, the more innovative the product is, the harder the initial early adopters are to locate and learn about their needs, wants and desires. For
By Guest Author Soren Petersen and Martin Willers The world is experiencing a boom in interest around startups as well as in design and the combination of the two is seen as the perfect cocktail for creating new and innovative offerings. Despite this perfect marriage, startups still seem to be baffled about how and when
By Guest Author Soren Petersen and Dr. Barry Katz Scattered across the globe, concentrated ecosystems are creating our future, from Formula One racing in Southern England, to new furniture design created in Northern Italy and high-tech consumer products designed in Silicon Valley. Design is a key factor in the development of all these cornerstones in
By Guest Author Soren Petersen Guiding design teams through the design innovation process is one of the biggest challenges in new product development (NPD). The path is strewn with ambiguity and uncertainty. Any advice that the project manager can offer rests on their previous experience, which may be highly context dependent and not directly translatable
By Guest Author Soren Petersen Quickly separating promising design concepts from the mediocre saves time and money and mediates destructive political gamesmanship. However, the challenge is how to recognize lucrative breakthrough innovations in their infancy, when knowledge and understanding is limited. Prediction-markets and gamification provide a novel solution for this dilemma.
By Guest Author Soren Petersen and Bill Gross There has never been a better time to start a company since there is an abundance of capital, talent, and growth rate. The rules of game have changed from a “make and sell” mentality to “how fast can one turn ideas/knowledge.” Dynamic, real-time conversations with potential users
Guest post by Soren Petersen and Jaewoo Joo The desire to improve human conditions is an inherent part of being a designer. Since creativity is driven mainly by intrinsic motivation, how can design drive social entrepreneurship? Posing this question to creative professionals on online social networks, however, resulted in only a dozen or so comments.