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Great ideas
1
Great ideas are generated in different ways. Sometimes an idea may simply be when a company exploits an opportunity to extend the product range, to offer more choice to existing customers. Or a great idea could allow a company to enter a market which was closed to it before.
Companies which are prepared to spend a lot on RD may make a breakthrough by having an original idea for a product which others later copy, for example Sony and the Walkman.
In the other hand, some products are developed in response to customer research. They come from customer ideas. These products meet a real need. Or the product does something familiar to another product, but faster, so it saves time. Some people will buy new products because the product enhances their status - makes them feel more important. Other people will buy any green product which reduces waste or protects the environment, even if it is more expensive.
If an idea is really good - perhaps the product fills a gap in the market - it may even win an award for innovation.
2
Dr Cook, please describe some of the new ideas which your company has developed.Well, Isis Innovation is a company owned by the University of Oxford, and our job is to take the ideas that have developed in the universitys research laboratories and help the researchers turn them into commercial opportunities, and we do this by either negotiating licenses or by helping researchers to start new companies. Some of the companies that weve recently started, for example, theres one company which uses technology developed in the engineering department to make car bodies more quickly and therefore more economically. Another company weve started makes houses for bees to help people who, er, grow fruit in orchards to grow fruit more efficiently because the bees help the trees be more productive. A third idea weve had is, weve started a company for archaeologists which trains archaeologists in the use of computer techniques, but also sells them the s
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