It’s not enough to simply “get” the startup mentality. Executives who want to use lean startup principles to compete in today’s fast-paced economy must do the hard work needed to transform their companies.
Every company seems to be a startup these days — or at least they try to act more like one.
Chile’s innovation experiment shows the challenges of trying to recreate Silicon Valley locally.
Four years ago, Chile launched an innovation experiment: If they convinced entrepreneurs to set up shop in Chile, would a successful innovation ecosystem follow? They’re not alone. As investors look beyond Silicon Valley, governments around the world are asking themselves the same question.
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On the third floor of a nondescript office building perched on a busy commercial strip in College Park, Maryland, foreign-owned startups can get a boost at the Maryland International Incubator, a first-of-its-kind incubator focused exclusively on foreign companies settling in the United States.
But where does innovation come from and how can its pace be sped up? How can companies innovate to create competitive advantages? How can cities encourage a culture of entrepreneurship? How do we democratize innovation for younger and more diverse segments of the population?
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As tech companies consumerize healthcare and create more frictionless experiences, it would behoove doctors to take notice and implement certain technologies and services into their practice to improve the patient’s overall experience.
According to the 2014 GE Global Innovation Barometer, which surveyed 3,200 innovation executives in businesses of various sizes and industries across the globe, 85 percent said their companies were working on strategies to create partnerships with startups and entrepreneurs.