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Business innovation | Six priorities of innovative companies

I am currently conducting a research addressed to the Government of Catalonia through which we try to determine the public policies -with a long term perspective- that can enhance the creation of innovative start-ups, a key point for a country or region to compete in the global economy. The first question arises just at the beginning: what do we have to consider as an innovative company?.

That is the great question if we want to create an environment that enhances and supports such new companies .

If we look at Wired magazine's criteria to choose their list of more wired companies we find four priorities of the "wired" companies:

1.- Strategic vision
2.- Global reach
3.- Killer technology
4.- Hunger for new ideas and impatience to put them in practice

I would add two more:

5.- An organisation culture absolutely oriented to innovation (in connection with #4) and to constantly find new and better ways to do things.
6.- A goal that goes beyond "creating value for our shareholders" and centers the company in an innovative manner of making life easier and happier to people.

Of course these criteria are being applied to already consolidated companies, but I think are also applicable to new start-up companies, that in my opinion should have, at least in mind:

1.- An elevated goal or mission that makes the world a better place ("let people better access to information", "everybody can fly", "everybody can access to knowledge" or "allow micro companies access to easy technology") and drives the organisation development, making it attractive to people to collaborate with.

2.- An strategic vision that develops the mission in an absolutely different an innovative manner for providing value to users or clients

3.- A global approach just from the beginning, and a well settled strategy to support that global reach. And, of course a value proposition from which a global growth capacity can be expected

4.- A killer technology platform that, again, supports that global reach and make things absolutely easy for everybody using it. Note that I think the most important is the platform, not the technology itself.

5.- The commitment to built an organisational culture that enhances hunger for new ideas, innovation and new ways of doing things. And that stands the dark side of doing so: mistakes and failures.

6.- The capacity of constantly rethinking the organisation and the business model

And finally, I would say to find venture capitalists that understand those priorities from the beginning, which probably will be the most difficult one to achieve for new companies.


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About the Author

Francesc Llobet is an Internet entrepreneur and a strategy business consultant in the fields of innovation, internet marketing and ebusiness.
Based in Barcelona, Catalonia (European Union), he is the founder of Sappiens.com, The Knowledge Community and Founder and CEO of Adverstore.com, Advertising for everyOne!. He maintains InnovationThink, eMarketingThink OnlineAdvertisingThink and A Startup Story, blogs where he writes on Innovation, Internet Marketing, Advertising and Startups. To know more..

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