Innovation Programs & Entrepreneurship: Busting Myths

Entrepreneur Deepak Syal has shared his personal experience of busting myths that can lead to the failure of innovation programs. Syal discusses five common misconceptions, from waiting for the perfect idea to innovating in secret. Instead, he urges leaders to allow people to consistently share ideas and to nurture hundreds of small ideas so that the perfect one can grow over time. He also warns that a small number of big bets won't deliver a successful innovation program, and that exploring and exploiting innovation requires different skill sets. Finally, Syal stresses that innovation capture programs should encourage a community to grow within a company, empowering inventors to submit a diverse range of ideas.