Innovation can take decades to come to the market
Across the 14 innovations considered in this review a review conducted in 2015, the average time from invention to widespread commercialisation was 39 years.
Innovation timelines from invention to Maturiy - UKERC Technology and Policy Assessment, 2015
How long it took for Nestlé to succeed with their Nespresso coffee machine.
So what’s your answer?
One year? Five year?
Well no. The answer is 21 years.
Based on a technology licensed from the Battelle Institute by Nestlé in… 1974, Nespresso only became profitable in 1995 after much ups and downs. 21 years were needed to make a success of the Nespresso innovation.
It took Ikea six years from the moment they have planned their first store opening in South Korea to the moment the stored opened to the public. Six years of research with a specific end goal to comprehend the nation’s novel culture
Simple can be harder than complex. You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end, because once you get there, you can move mountains.
The most profound technologies are those that disappear. They weave themselves into the fabric of everyday life until they are indistinguishable from it.
When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can oftentimes arrive at some very elegant and simple solutions. In just a few words, Steve beautifully summed up the difference between Apple and so many other companies. Once Apple comes up with a solution, it’s more of a beginning than an end. It’s by peeling back those layers of Complexity that Apple is able to ...
The best — maybe the only? — real, direct measure of ‘innovation’ is change in human behavior.
Established brands like Sony, Canon and JVC were better placed than Nick Woodman to bring a point-of-view action camera to market.
Why they didn’t do it early on, nobody really knows. There are theories.
The wheels from concept to market move slowly in a big business with a reputation to protect, revenues to maintain and shareholders to answer to. This inability (or reluctance) to shift gears and act more quickly makes larger companies with hierarchical management structures risk-averse and sometimes less responsive to the desires of the market—real people who are experiencing life in new and very different ways as ...