You know the story of the biggest inventions that were considered to be impossible. Scientists and innovators no matter if a century ago or a decade ago have always proved that naysayers can be wrong. Common tools such as the light bulb, the radio, television, the telephone at first were ideas that people said would never work. On the other hand, inventors never suspected the potential of their ideas and continued to shape the world we live in.
Such success stories can motivate young entrepreneurs and innovators to insist on their initiatives. However, many struggle to get started because the process of a new idea patenting and promoting can be overwhelming. Meanwhile, others struggle to have new ideas.
Necessity is the mother of innovation
Keep in mind that it isn’t necessary to invent something new in order to innovate. As professor Guenter Faltin explains with various examples in his book "Brains versus Capital" it is possible to recombine what already exists.
A lot of people driven by necessity have reinvented a way for using common knowledge and tools. In order to do this, you have to look things in a different way. A fresh pair of eyes usually can spot things that we missed or didn’t notice. It can be a grammar mistake or a simple solution to a major problem. The same way reorganization of knowledge and experience can drive innovation and entrepreneurship.
For many centuries, innovation stood for something new and unique. Hence, one can ask how the use of something already known can be called innovative? Yes, it happens, when the method is different. Large companies innovate in order to stay ahead. Meanwhile, a young man or women living in a developing country innovates because of the need for progress and solutions. They use information, raw materials, and knowledge to transform it into a product or service of value to other people that are done in a cost effective and faster way. It all depends on the context and combination of inputs.
Numerous members of the Youth Citizen Entrepreneurship Competition have learned how to use existing assets conforming to their specific circumstances and contexts. Many of them have resulted in great solutions. Join our campus and learn how to cultivate an entrepreneurial mindset and create your own ideas.
Sources:
Guenter Faltin, "Brains versus Capital", wikipedia.org
Photo Credit: pixabay.com
