A quote often misattributed to Charles Darwin goes something like, “It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.”
It's no secret that R&D and innovation teams are being squeezed harder—as explained in our article on the benefits of R&D collaboration, productivity stats aren't exactly eye-watering.
Last week, I had the pleasure of interviewing Mitch Ditkoff, an innovation culture consultant who has worked with GE`s Crotonville Management Development Center, Fuqua School of Business and several Fortune 500 companies.
R&D budgets are large, with some of the top R&D intensive companies spending $680 billion (£536 billion) in 2016. Yet a recent report by Forbes revealed that most product launches fail at 80% and only 4% get a return on investment. How can companies succeed with R&D projects when the odds are stacked against them?
Research has shown that one surprisingly simple strategy can reduce the failure rate of R&D. What's the secret? Improve collaboration.
Collaboration is key because it enables sharing of information at the early stages of a project. This helps teams communicate which projects to focus on rather than spending time and resources focusing on different objectives.
Research and development is one of the most crucial business departments a company can invest in. By committing to constantly updating and renewing products and services, companies maximise their chances of both growing and maintaining market share. In this infographic, we look at how to do R&D and its benefits - as well as some of the risks of not doing R&D.
We live in an age where we depend heavily on technology on a day-to-day basis. As a result, there are more emerging technology companies that are disrupting the market to provide new solutions to improve our lives. It is becoming important for these companies to protect their hard work and stay ahead of competition by protecting their assets through various forms of intellectual property.
There is often confusion between biotechnology and pharmaceuticals; although they both produce drugs, they do so in different ways and have a different basis. To manufacture drugs, biotech companies use live organisms such as bacteria whereas pharmaceutical industry usually use artificial materials to create their drugs.
The best way to see who your competitors are is to to look at the patents within your technology space. Landscaping is a great way to do this and allows you not only to search for patents but to look for infringements, renewals, and abandonments as well as to assess potential partners. In this infographic PatSnap covers all four of these capabilities using screenshots from the landscaping tool.