The new extended innovation funnel

While the traditional innovation funnel model has been effective in the past, experts are beginning to see it differently. Langdon Morris of Innovation Labs suggests that many people falsely believe that innovation starts with ideas when in fact, the most successful innovators begin from a strategic perspective, thinking broadly about their goals and the key trends in society and technology to define their strategic intent. This approach leads to innovation portfolios that are inherently strategic, risk-managed, and goal-directed, with ideation as the middle, not the beginning. Additionally, Jeffrey Phillips proposes a revised funnel that considers opportunities, ideas, technologies, and products to offer a more comprehensive approach. In today's open innovation model, it's important to consider solutions beyond just ideas to address customer needs and emerging opportunities.