The unsurprising results from a global CEO survey by PriceWaterhouseCoopers indicate that innovation, along with increasing their existing business, now outstrips all other means of potential expansion, including moving into new markets, mergers and acquisitions, and joint ventures and other alliances. Nearly 80 percent of CEOs surveyed believe innovation will generate ‘significant’ new revenue and cost reduction opportunities over the next three years. Read the rest of this entry »
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What place does open innovation have in the healthcare industry? Here are two examples of how innovators are working to transform the industry on a global scale.
Drug Development
A couple of doctors recently posted a thought-provoking article suggesting that drug development companies could benefit from innovation initiatives such as done by Procter & Gamble’s “Connect and Develop’’ open initiative. “A thoughtfully constructed open innovation platform built around existing medications could offer enormous value in the development of new therapeutics,” they said. Such efforts are blocked by regulators, not entirely to our detriment, according to one commentator, who predicts that “a lot of nonsense would emerge in such online communities, and some of it would actually cause harm.” Read the rest of this entry »
Innovators are committed to making the world a better place, from developing energy-saving technologies to designing creative ways to engage customers in corporate social responsibility. A couple new grassroots efforts show how effective some simple initiatives can be in saving lives.
Helping Citizens Help Each Other
There’s a hero in all of us, according to a California fire department who this year launched a free iPhone app called fire department that could make heroes out of many more of us. Users trained in CPR can sign up to be notified if someone nearby is a victim of sudden cardiac arrest and may require CPR. If the cardiac emergency is in a public place, the application, using sophisticated GPS technology, will alert citizens in the vicinity of the need for CPR. The application also directs these citizen rescuers to the exact location of the closest public access Automated External Defibrillator (AED). Read the rest of this entry »