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In some cases, firms are generating innovations that can also be used in rich countries.
New businesses divert scarce resources from generating innovations to paying lawyers to make sure someone else does not already own their ideas.
Among other things, Connect and Develop involves deploying 70 "technology entrepreneurs" worldwide to scout for ideas and participate in a variety of external networks for generating innovations and solving problems.
This paper presents an overview of the Mobile Data Challenge (MDC), a large-scale research initiative aimed at generating innovations around smartphone-based research, as well as community-based evaluation of mobile data analysis methodologies.
One university physicist described how this was part of a familiar pattern of generating innovations for the rest of the world to capitalise on, then sighed: "One day, we'll stop thinking of ourselves as a major economic power, and realise we're more like South Korea in the early 60s".
Major financial gains are more likely to come from "Strategic Agility", i.e. generating innovations that create entirely new markets and that turn non-customers into customers.
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At a time of austerity the role for open data in generating innovation and growth is an important one.
Prizes have proven effective in generating innovation, perhaps most notably in kickstarting private space flight and research into autonomous vehicles.
Companies don't need pendulums swinging to extremes; they need foundations for generating innovation of all kinds.
The paper cites studies showing that the "co-location" of research and production are important for improving business practices and generating innovation.
Competition in the business world is immensely productive because it plays a vital role in generating innovation, new ideas, and new products.
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