The economic slowdown and resultant killing fields of un employment are here. Pink slips, voluntary sabbaticals and pay-cuts have become an order of the day. Yet history has shown that some of the biggest stars were born out of such times – names like Google, CNN, Walt Disney and several others immediately come to the fore. Indeed these companies and several other entrepreneurs have shown what it takes to realize an idea by often sailing on uncharted waters and most importantly how to turn seemingly insurmountable odds in their favour.
The good thing about bad times is that talent is aplenty. So is the time and opportunity to shape those audacious ideas that were shelved during good times in favour of “business as usual”. Time to swipe the dust off those stashed away notebooks and back-of-the envelope notes.
The success of Israel and Silicon Valley have brought to the fore the criticality of a supporting ecosystem that can drive entrepreneurial ventures.
There is an interesting post on Socialutions which among other interesting observations says this “Again, financial system is not the only problem; the innovation system – or lack of an innovation system – is the problem. Perhaps oversimplified, but this is an astonishing omission from the national dialog on the financial crisis.”
The need of the hour is therefore to create and nurture an ecosystem that can help incubate ideas by participation of various stakeholders (Ideators, Contributors, Sponsors, Investors, Mentors, Academia & Research Institutions, Lawyers to name a few). We believe that together they will rally around a diverse set of aspirations whilst converging on purpose. Natural teaming between these communities can bring to bear the single most critical inputs to getting an idea off the ground viz. their collective capabilities and efforts to help fund an idea.
The funding of Ideas we have seen, has been significantly inadequate in the Idea-to-Prototype Stage, and in fact has been highly skewed towards funding Market and Growth risks.
On the other hand the increasing participation in online communities has paved the way for increased acceptance of collaborative working across several communities.
Community Powered Incubation of Ideas can therefore be summarized as:
1. Co-opting members from diverse communities to form the ecosystem
2. Enabling ecosystem members to connect, collaborate and co-create on an unified platform
3. Allowing community members to vote and rate ideas
4. Enlisting the support of members to contribute their efforts to help them move from Idea to Prototype
5. Engaging the Investor Community to fund ideas that show potential and promise
6. Leveraging the Community as a Marketing and Branding Channel for Ideas to support their Go-To-Market and Growth initiatives.
PlanetAikon’s endeavour has been to put this rhetoric into practice.
If “necessity is the mother of invention” then it is our belief that “Recession is the father of Ideas”. And if there is destiny, then may the “We Can” Ideators and Entrepreneurs meet her on their own terms.
R R Dasgupta
Nextsutra 
13 comments
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February 13, 2011 at 9:03 pm
Incubating Ideas in Tough Times | InnovationHeat
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May 11, 2009 at 5:52 am
ridersman
Its nice idea blog.I like its.
April 9, 2009 at 6:14 pm
Sarbajit
I would like to make a few ponts in the context of an enterprise:
Traditionally I’ve always heard people complaining about the conflict between ‘Creativity’ and ‘Process’. In cross functional meetings I’ve personally come across people, the few bold ones who speak in meetings, resisting processes to promote creativity. The obvious and easy response from the leaders had always been “Balance …. no more questions please”. Personally I do agree that balance can be the most ideal solution however as we just said it’s ideal. Larger the company gets bigger is the ‘Imbalance’.
While trying to fathom into this debate I tried to close into the root cause of why few people are so allergic to processes while few are not. It may be one of the early indicators for human resources to qualify the potential creators or at least contributors. Of course this view is debatable.
Process is essentially repeatable in nature and once you have done it for a few days or weeks you tend to get annoy ably familiar with the same old stuff that you need to get back to office for. On the other hand process is also an essence of discipline.
Now let’s see how creativity is perceived among common masses. By common masses I mean people like me who have never actually created anything but would like to take it up. Probably one of the first few things that we subconsciously associate with creativity is the time allowed to keep our feet up on the table, lean back as much as possible under the cool soundless air conditioner vent looking up to the clear blue sky and thinking. Forgive me for exaggerating but what I meant to say is the time to ‘think’ instead of entering the stupid set of data multiple times into that stupid system which once looked the most interesting of all.
So it’s my belief that the first conflict is really about the time. Any calendar conflict leads to precedence. Traditionally and unfortunately process has always won and that’s probably why RR rightly mentioned at some point that unless you are designated as a creator by an institution you need to focus on your bread earner – ‘Process’.
I’m extremely glad that RR and Dilip could take the huge first step towards implementing their solution in one of the fairly large sized global IT services company but I think the more critical mission is to implement the vision in the leaders’ mind. It’s almost analogous to preaching the CEO of IBM on what should be his vision. True it’s difficult but achievable. Although the heavy weight CEO’s are far more wise and knowledgeable than us I think they are sometimes handcuffed with the short term realities and goals that spare them with no time for continuous involvement in long term vision with all levels. The most difficult change in any organization is the cultural change. Promoting creativity / ideation calls for one. And the good news is that ideation is possibly the only process that can involve people from all levels and corners of a company to participate in creating a unified enterprise vision.
Here’s something I believe but do not have any first hand information to substantiate that. ‘Process’, no matter how annoying it may get, is still an essential component of ‘Creativity’. These days creation (the new word ‘ideation’) needs to be disciplined due to several reasons. Higher competition, access to humongous and confusing data, buyers who are totally perplexed and most importantly ‘time to market’ etc. are some of the typical reasons why the ideation should be disciplined.
I think platforms like http://www.planetaikon.com must play the role of process manager while you are busy thinking. It should be able to drive a creator’s behavior which can be very complex.
Process will have the biggest challenge to keep the discipline without annoying a creator. So the question is what should be the components of such a process? How should such a process be run? What kind of data should be made available through an ecosystem to the creators that help direct their thought process at early stages?
If you have any thought around the ideal ‘process’ to fuel efficient ‘creation’ please share.
March 11, 2009 at 8:49 pm
R R
Tom : Thank you and I see your point. Our studies reveal that lone Inventors perhaps adapt better to a “Challenge-Response” kind of system e.g. Innocentive. Community Powered Innovation on the other hand gain acceleration from Ideas that provide common ground for people to team. I think there is place for both modes of engagement and therefore there is a huge opportunity for one to learn from the other.
March 11, 2009 at 8:45 pm
R R
Linda: Thank you for bringing in a great example on Community Powered Innovation. It reaffirms my belief that it is the diversity of the community that provides fuel for folks to meet on “uncommon” grounds.
March 11, 2009 at 8:41 pm
R R
Deepak – Thank you for the vote of confidence and the good wishes. These mean the world to us in our journey to make a difference. Thank you again
March 10, 2009 at 10:00 pm
Chandran Deepak
Dear RR,
“Recession is the father of Ideas” is an important idiom and the credit should be to RR Dasgupta at all times in this universe.
I am currently involved with three new project ideas, and one is due for completion, the other one in processs, and the last one is a about a cross border acquistion and in literal terms a small fish acquiring a big one.
I put my full faith in your confidence and approach, along with your core team and wish you a damn SUCCESS through out the journey, and you and Planet Aikon would be a name to reckon with, and somewhere down the line you would know how strongly i mean it!
Happy Holi,
Best Regards
Chandran Deepak
http://www.irisenergy.com
March 7, 2009 at 9:41 am
Linda Palmer
Unusual alliances and collaborations are already springing up in local communities.
Who would have guessed that a Motor Coach Resort, a Fantasy Doll Art Site, Internet Gurus, Former Federal Agents, Global Importers and Exporters, Doctorate Educators and Financial Sages would end up happily and successfully working on an innovative profitable ‘event’ together funded on a shoe string?
For the born Entreprenur, adversity is opportunity, and when everyone involved walks away from the table with something of significant value to keep…it works splendidly. The website listed here has found it’s way to Page 4 in google in 5 days.
At first glance, one may scratch their head and wonder what in the world is THAT ALL ABOUT? By most learned standards, it’s hokey and weird…but real involvement at the local level of any community takes a little faith, guts and a lot of navigating the search for common ground.
Innovation finds its own way to the marketplace if it has value. For the lonely inventor, an alliance with a proven entreprenur may be the right dance card.
We have six unique projects going on right now. Each with a different common denominator. These new concepts and ideas do not even acknowledge a ‘box’ exists, and the experts books are on the shelf.
Good forum, and a good way to rub elbows with people we seem to have nothing in common with for the betterment of all our communities. I can buy that!
March 6, 2009 at 1:45 am
Thomas Sutrina
May be I am a failure in innovation and I am just a lonely inventor that happens to get paid to invent for corporations. I do not find ideas as a group activity. Brain storming does find new areas to examine and can create new innovation combinations, but someone has to get down in the trench and with a tea spoon and brush unearth the invention that creates the opportunity to makes money.
Champion of an idea also is done by one or a few. The group and community spot in my view is in the implementation phase. But the champion has to have something to offer. The excavation has to unearthed enough to reduce personal risk before anyone will join the venture by providing money or sweet.
Adam Smith’s Wealth of Nations two invisible hands still apply. The generally community improving action of a few people acting in self interest. The generally less effective community improving action of a few people acting for the welfare of many. A community incubator needs to provide a space for the first invisible hand to act.
March 4, 2009 at 6:56 pm
Anil Behal
Dear RR:
I noticed your entry on LinkedIn and have just sent you an invite to connect! Dan, Nandita and others, I would like to connect with you as well.
Your ideas on innovation are fascinating, albeit contrarian to the majority of folks who seem to think that tough times warrant “throwing in the towel.” As a social entrepreneur myself, I know the value of sowing seeds in fallow ground, when the soil is resting. I will be joining your wonderful community!
Regards,
Anil Behal
ORGDYNE Training & Consulting, LLC
http://www.orgdyne.com
March 4, 2009 at 1:44 pm
Nandita
Excellent post…I agree that funding is not the top most concern for start ups. I’d be keen to understand PlanetAikon’s Community powered innovation Model. Please send me a mail.
February 13, 2009 at 4:07 pm
rrdasgupta
Thanks Dan – Why don’t you elaborate on your insights. Look forward to our continued conversations
February 5, 2009 at 4:03 am
Dan R
An awesome commentary and we need to see much more of this. Thank you for quoting may article here. Your six points are spot on, but with a twist: if it walks like a buck, talks like a buck, and quacks like a buck, people will think it’s a buck…and trade it.
The Ingenesist Project http://www.ingenesist.com does, in fact specify in substantial detail, exactly how an innovation economy may be structured. The objective is to format knowledge to emulate a financial instrument.
It can begin with 3 relatively simple web applications deployed to social media. We are in fact a whole lot closer than many think.
Community Knowledge is tangible…knowledge is extremely tangible…the problem is that knowledge is invisible. Let’s make it visible.