The pursuit of innovation has pushed large companies to launch accelerators, incubators and hackathons. Some companies succeed in finding new ideas and others don’t. Why the disparity? How can companies crack the code and reap the most benefits from these investments? There are no easy answers, but there are a few necessary elements.
First there must be a problem, an uncomfortable situation, some inefficiency. Innovation cannot be motivated unless something is broken. The old adage still holds, “Necessity is the mother of innovation.” When there is an aim or great need to make things better, people can maintain focus.
