Vertical Innovation'
A Back End of Innovation Presentation by Bill Nottingham,
Nottingham Sprik
In Vertical Innovation, one firm handles all of these steps
in the process:
in the process:
'
Insight
Insight
'
Design
Design
'
Engineering
Engineering
'
Prototyping
Prototyping
'
Sourcing
Sourcing
'
Packaging
Packaging
We define innovation as 'the collision of unrelated ideas.'
Our first client was a rotational molder who made bedpans.
We collided two worlds and used our clients to create Little Tykes. They turned
from making bedpans to being a leading toymaker.
We collided two worlds and used our clients to create Little Tykes. They turned
from making bedpans to being a leading toymaker.
Three value-generating platforms were discussed:
1.
Tech Transfer: The problem with traditional tech
transfer is that you don't get a lot of transfer. But working with Nottingham
Sprik, Case Western University was about to create the CardioInsight vest,
which was then acquired by Medtronic.
Tech Transfer: The problem with traditional tech
transfer is that you don't get a lot of transfer. But working with Nottingham
Sprik, Case Western University was about to create the CardioInsight vest,
which was then acquired by Medtronic.
2.
Platform Innovation: They created the Troybuilt
FLEX'a line of products that collided tractors with lawn care. Lowe's became
the exclusive retailer of this product suite and Nottingham Sprik was allowed
to handle the branding around the products and the launch. FLEX is a modular
system for lawn care. Changing out the modules was core to the innovation,
solved with a kick-stand innovation.
Platform Innovation: They created the Troybuilt
FLEX'a line of products that collided tractors with lawn care. Lowe's became
the exclusive retailer of this product suite and Nottingham Sprik was allowed
to handle the branding around the products and the launch. FLEX is a modular
system for lawn care. Changing out the modules was core to the innovation,
solved with a kick-stand innovation.
3.
Soft Launch: Took the concept of an ATM machine
and a pharmacy and created a hybrid. They created a telemedicine kiosk,
introduced it at CES, then where the concept (HealthSpot) won the CES
Entrepreneur of Year award. Then, they rolled it out to hospital systems, then
lastly into Rite Aid.
Soft Launch: Took the concept of an ATM machine
and a pharmacy and created a hybrid. They created a telemedicine kiosk,
introduced it at CES, then where the concept (HealthSpot) won the CES
Entrepreneur of Year award. Then, they rolled it out to hospital systems, then
lastly into Rite Aid.
Michael Graber is the
managing partner of the Southern Growth Studio, an innovation and strategic
growth firm based in Memphis, TN. Visit www.southerngrowthstudio.com to learn more.
managing partner of the Southern Growth Studio, an innovation and strategic
growth firm based in Memphis, TN. Visit www.southerngrowthstudio.com to learn more.