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How Technology Complicates, Benefits Innovation

Innovation is a huge industry. Often characterized by R&D, it’s a $603 billion market. According to research by Booz & Company, that’s how much money 1,000 public companies spent on research and development in 2011 alone. All eyes are on innovation and how it can help a business profit, but innovation isn’t what it once was and here is why.

When I started my business 13 years ago, innovation was about taking an idea and making something great out of it — and it was far easier to do. Creative thinkers would come up with a blockbuster concept, get some investors on board and boom — take off. As the dot-com bubble pushed computing into millions of people’s daily lives at work and at home, it also brought with it endless possibilities of technological innovation that a decade later has infiltrated almost every household and every single type of business imaginable. Jumping forward to 2013, the capacity for a business to come up with something fresh, useful and meaningful is limited and today’s market is saturated with ideas, tools, apps — you name it.

Read the full article by Andrew Reid featured in WIRED