Innoventures – How innovation can invent joint venture opportunities
Innovations have multiple sources of inspiration and motivations in addition to sheer genius. The funds are regular. Prized contests from the Bill & Melinda Foundation and Google drew scientists and college students to develop cheap but curative vaccines and faster lunar information transmission technology, respectively. Political endorsements are also important factors. The bike-friendly policies of the Government of Barcelona gave way to cycling practices in the city. Education, coupled with staggering poverty, also drives innovation. Bangalore, India became the second Silicon Valley because of it. Social responsibility is catching up to be one of the current forces of innovation like Texas Instrument or Intel’s digital villages in Amazon, Brazil. Mere personal interest is not negligible and so are joint ventures.
We have read, seen and heard about many joint ventures today that have produced innovative products and services. Microsoft and college students created Vista, Xbox, and tablets. Google and Samsung invented T-Mobile or the Google phone. CNN and ESPN not only delivered global sports news, but also sports entertainment. Time and various politicians, celebrities, writers and famous people gave passionate testimonials about the 100 influential people. Bill Clinton and George Bush raised funds exponentially for Katrina. Apple and Nike came up with a product that monitors your heart rate while jogging and listening to your iPod. Intel and Amazon universities provided affordable healthcare services in remote Amazonian villages.
Google and General Electric are now moving to develop a smarter electricity transmission grid. General Electric and Mubadala gradually build Masdar, a carbon-free and energy-efficient green city. American International Group and Philippine American Life and General Insurance Co. offer a one-stop shop that has complete insurance and investment portfolios. Victoria’s Secret and Forest Ethics have published organic catalogues. Marriott Hotel and Conservation International protect the Amazon rainforest. TiVo and Amazon.com introduce “shopping” directly from TV shows like Oprah Winfrey’s talk show using the TV remote control.