Innovation Capital: How We Can Win the Resources Needed to Turn Ideas Into Innovations

Innovation capital is the key to escaping the paradox faced by innovators who need the resources for testing and validation, but can't get them without a proven track record of successful innovation. Building a reputation for innovation leadership can accrue innovation capital through human, social, and reputation capital. There are six amplifiers to help gain visibility, attention, and credibility. The first is comparison, using clear analogies between something the listener is familiar with and your product. The second is storytelling, creating a compelling narrative, using characters, conflict, and a resolution. The third is building legitimacy through association with trusted others. The fourth is social pressure, demonstrating excitement and showing how many other investors or collaborators have come on board. The fifth is committing, by putting everything on the line, you are demonstrating how much you care, and by extension, how much effort you'll put in to achieving success. The sixth is materializing, finding ways to visually represent your proposition or idea.