Ideas, biomimicry, TRIZ, loonshots and butterflies

“Evolutionary Ideas: Unlocking ancient innovation to solve tomorrow’s challenges” got me when they mentioned biomimicry and TRIZ. Evolution is nature’s problem solver, and I do not think TRIZ receives the attention it deserves when we discuss and think about innovation. There are lots of existing patterns of problem-solving, and instead of focusing on the new shiny toys, we should at least be aware of the things that we already know (and work).

Flopping

Of the 30,000 new products introduced every year, an estimated 95% flop. Chasing revolutions is a high-risk business. In the pursuit of breakthrough innovations, many businesses adopt the strategy of funding a large selection of innovative projects hoping for a rare success to pay for the remaining failures. “The shots-on-goal” fallacy. We have an infatuation with human intentionality and are obsessed by this myth of a lone genius receiving a blinding flash of inspiration or wisdom. “The four most expensive words in the English language are, ‘this time it’s different.” — John Templeton, British investor.

True innovation is rare

The reality is that true revolutions are far rarer than you think. In a fascinating analysis, a team of engineers reviewed a staggering 200,000 of the world’s most successful technical patents. They found…