In any recession, especially ones that look deep and ugly, it is the innovators that thrive and the wagon-circlers that fail. Generating good ideas is generally not the main problem for companies, the real challenge is successfully commercialising these ideas.
According to Professor Peter Russo, founder and director of the Strascheg Institute for Innovation and Entrepreneurship at the European Business School, Frankfurt, Germany, employees must be given the freedom to act as entrepreneurs.
“Companies are left with no choice but to innovate, otherwise they will disappear from the market. Corporate entrepreneurship is a key way to make innovation happen inside established organisations. It is not just about generating ideas and building prototypes but about commercialising them in the right way, and this critically important last step in a well-functioning innovation value-chain requires entrepreneurs,” argues Russo.
Professor Russo is coming to Dublin to give the InterTradeIreland 2010 Innovation Lecture at UCD. It is one of the events taking place during the Dún Laoghaire-Rathdown 2010 Enterprise Week which runs from 22-26 March.
Details are here www.ucd.ie/nova/intertradeireland2010innovationlectureatucd.

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