Why Innovation?
Innovation comprises new, better, and more effective ways of solving problems.
Borrowing from the business, technology, and marketing industries, the term has been used to describe policies, systems, technologies, ideas, services, and products that provide solutions to existing healthcare problems.
As the world changes and becomes more data centric, so does healthcare. Creating a system that is not only cost effective, but patient centric is crucial. After all, "if there is no margin there is no mission."
At Robinson Ventures, we pride ourselves in investing in not only start-up companies, but the ideas behind them. We investigate every aspect of a company to see what they have to offer, and what we can offer in return.
Within innovation there are three schools of thought.
- Core, the everyday innovation that reflects on basic ideas and improves existing ideas.
- Constant, which takes existing ideas and spins them in a new way.
- Radical, which is made up of only new ideas that address latest problems.
Each aspect plays a pivotal role in our investment as we explore the potential clients have in the vast galaxy of new business.
How Do We Innovate?
The consumer market is an evolutionary process, which provides a unique challenge- when a product is launched at a target market, the market shifts. The problems of today were caused by yesterday's solutions, and today's solutions will in turn create tomorrow's problems.
Within innovation itself there are two ways to approach and observe it: the Cycle of Innovation and Stage Gating. Each has their own strengths, method of implementation, and impact on innovative culture.
Let's look into them and discuss which one is right for your organization!
