Monday, June 3, 2019

An idea that could possibly bridge invention to commercialization time gap

Some insights from a thoughtful course on Innovation via Coursera

1. Manual typewriter: First patent: 1714. First major commercialization: 1878
2. Automobile: First patent: 1860. First major commercialization: 1902
3. VCRs: First patent: 1950. First major commercialization: 1972

Not an exhaustive list of examples, but still some of the inferences:
1. There is almost always a lag between first time a patent is filed to it's commercialization.
2. The time lag between first patent filing and to it's commercialization seem to be decreasing as the time progress.

Even though the lag between invention and commercialization seem to be reduce, the fact is that the lag still exists.

One of my hypothesis about the reason of this lag is that the inventions that were a result of individual brilliance took a long time to commercialize than the inventions that were formed by a group of individuals. I would love to research a bit on this in coming time and (hopefully) prove this hypothesis right.

Having talked about the roles in an innovation team in the last blog, I firmly believe that odds of success (aka commercialization) increases multi-fold if there are right mix of skills in an innovation team i.e. Hacker, Hustler and Hipster (and many be Hotshot as well).

What do you think ?

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