Innovation always involves new technologies and a lot of research & development.

No! Technology may or may not play a role in a particular innovation! Think of all the highly innovative social start-ups which tackle the most important societal challenges of our times.

It’s enough to have the perfect idea. The remaining work is easy.

No! Having good ideas is actually easy. We all have many good ideas every single day. It is much harder though to turn the idea into a working business.

It’s enough to build products or services that customers love.

No! Meeting the needs of your customers is only one pillar of success. You have to be flexible, adapt to an ever changing market, and reinvent yourself from time to time.

Innovation can only be done by creative genius that can’t be learned.

No! Innovation does not depend on creative genius! You need motivation, passion, hard work, a good team around you and experienced mentors.

Innovation can be enforced by traditional approaches and strategies during our day—to-day businesses.

No! Traditional research & development models and business strategies (as we know it) tend to fail innovation.

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