How Does New Connect Help in Innovation?
Innovation Connections are extremely effective and they help in promoting innovation as well as connection between that of the different businesses and their research sectors.
It is with the help of these innovation connections that new collaborations are being made between small and medium enterprises as well as researchers. This partnership will be extremely effective and will help in developing ideas which will have a very good potential in commercial markets. This will also help in finding out gaps that are actually preventing a particular business from growing
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Benefits of innovation connections
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Traditional invention model
Previously it was believed that innovation works best if it is made within the four walls of a particular company. There are a number of companies who still believe in this theory and so they are trying to buttress their Research and Development team with proper alliances, acquisitions, selective innovation outsourcing as well as licensing.
In order to do this these companies are launching the Skunk Works that help in bringing about an improvement in the collaboration between the marketing team and Research and Development team and also help in strengthening management of product portfolio. But the actual fact is that if the company wants to be really well then they have to create a growth between 4-6% in the nest year which is quite a difficult task.
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