What is Innovation

MIT 15.390 New Enterprises, Fall 2013
View the complete course: ocw.mit.edu/15-390F13
Instructor: Bill Aulet
Discussion of the essential difference between invention and innovation and the important role played by commercialization in innovation.
License: Creative Commons BY-NC-SA
More information at ocw.mit.edu/terms
More courses at ocw.mit.edu

[@Rama-jg7nj]

"Innovation is something that generates value for the world. It makes something faster, better, cheaper. It gives someone some great satisfaction. An invention is an idea, a technology, a patent in and of itself. It does not generate value."

[@fernandoonosaki6547]

Great memories Bill Aulet! Still today I use the Innovation equation!!

[@mogesgobena9911]

great, simple and clear video .

[@bestforyou1327]

the best example he chose to make the message across

[@ahmed1758]

THnks for sharing, very helpful

[@brandonlandau4784]

Maybe MIT could employ the innovative concept of *pinning* a microphone on the speaker of this video to enable optimal audio clarity.

[@user-re4lj5mj2d]

@Nico Amari You're right, nobody gives a shit

[@melissajohashen5164]

lol

[@brightmalisoma7607]

innovation is the idea /technological which can do something

[@hassibaboumar7279]

Hi .Teacher.What is a good idies?

[@habibbenabdallah6027]

Very interessant video !

[@mohamouda.dualle0277]

Well demonstration and explanation.

[@brightmalisoma7607]

why innovation but not sme/global business

[@timmi007]

thankyou so much sir. love from Pakistan..

[@svens.8598]

Do social innovations need to be commercialized before being able to be categorized as an innovation? The formula is nice to show the difference between invention and innovation - but the the focus on commercialisation does not cover all types of innovation...

[@dude5045]

A social innovation that is implemented can be considered as an innovation.

[@annewanjiru2617]

@@dude5045 True, because people still have to buy into your vision even if money doesn't exchange hands

[@navjotkaur1965]

I got this in real exam in march 2019

[@jafariqbal786]

Thanks for sharing

[@juliannecanalijaph4383]

Ano ang innovation

[@bookreview1014]

Great lecture 😎

[@helsayna2071]

thanks you so much

[@JoshuaRaichur]

Fantastic definition!

[@KaderKhan-eo9ii]

thumb up. great video

[@azizbekerkinov6999]

Thanks 🙏

[@x-mando1933]

Should “Commercialization” be a must in the equation? Example: creating a revolutionary equipment meant to be used in the manufacture for a specific product. The added-value to the customer is the reduction of defects, and although the manufacturer could -commercialize- the new machine, decides not to. In any case, will only replicate the new idea on other applications.

[@drpaulchan]

Brilliant! Brilliant! Very clearly explained! Thanks MIT OpenCourseWare! #SecretsSelfmadeBillionaires

[@thattimestampguy]

0:23 0:42 Innovation = Invention WRONG Innovation - Value Generation 1:28 Innovation = Invention * Commercialization 2:11 2:47 The Commercialization Aspect is the difficult part of Innovation

[@JohnSWren]

Helpful for analysis, but is it the way people who actually start successful new businesses think about things? Do you have any data? Many think the entrepreneur is more like a Peace Corp volunteer, they have a passion for whatever it is they are trying to get to the market.

[@muhammadbux1928]

very informative video

[@nidhijain8138]

great video

[@lisanvaccaro]

Who decides that this is the definition of “innovation” and not something else?

[@hajorm.a3474]

Exactly my thought...

[@medo5101]

Fantastic Video!

[@mca7423]

Thank you sir

[@nelsonmayedo2360]

The Innovation does not add value to the customer. I don't think commercialization itself does either. Then if Innovation=InventionxComm, then we r missing some components in the equation that creates some value. THere should be some term that "modulates" the INvention and as a result we get the value. Not fully sure about my statement though. By the way, * is convolution not multiplication :).

[@InderjeetSinghmakkar]

Invention vs discovery ?

[@soonyanaidu7875]

You discover natural laws. Or from.nature that already exists. Invention is what you create.

[@filippocucina7001]

Cool!

[@varathann1]

Very Nice....

[@monotheist..]

innovation equals invention times commercialization faster better cheaper for impact generate value commercialization for the world is great for the whole world great invention then commercialization innovation is invention to make greater value equation

[@saimashafique5781]

what is commercialization?

[@soonyanaidu7875]

Ability to sell something or when you get people to buy.

[@greenlemon5856]

Thank you so much !!

[@navneetlohia2912]

3.12.22

[@ehza]

Nice

[@keepingupwiththemirandas5547]

cool

[@deeOva]

Hadir from STMIK PRIMAKARA

[@akguptapmp]

completed

[@monotheist..]

innovation driven innovation for the world invention for the world innovation = invention + commercialization generate value faster better chaper invention to solve world problems thus commercialization and make money out of it

[@barbossa1677]

I would say: Innovation = invention x promoting

[@Mellosaxsexy]

Great video! However, I disagree about the statement that apple is the most innovative company.

[@MrBiyi]

yh i mean is google dead

[@TheJatinSaxena]

Apple was the most innovative company , now it's a company

[@nvivek943]

I think Google is a most innovative company

[@jamesdelk8926]

Yes it is Germans invented computer in thirties we innovated it later Germans in thirties invented stealth plane futuristic we innovated it built it later that's how innovation started blacks and Germans invented independently coincidentally to same time with others

[@BinanceUSD]

Should have invested in Apple back then the writing was on the wall. The company in Silicon valley that takes other people's great ideas and make profits from them.

[@RomanBinenbaum]

So it is only emphasizes the point that the only thing Apple good at is the commercialization. Very innovative of them...

[@coffeewithcarline9171]

Thank you soo much, I'm a new Sub.

[@abc796]

PTE innovation

[@letsgoviral777]

WOW

[@code_blizz]

nice

[@ullasahuja]

Innovation "the word" has nothing to do with commercialisation. Entrepreneurship = Innovation x Commercialisation and Innovation is a novel product, service, process or an idea which is creative, advanced and Original.

[@MegeshVaidun]

Innovation already is about commercialization.

[@pratikmamidi5679]

@@MegeshVaidun no

[@judyfrancis6138]

1

[@silasditzer]

i get it but thats just true within capitalism, isnt it?

[@Jbroglydecap]

yawn

[@keepingupwiththemirandas5547]

YOU DID NOT DO GOOD I STIIL DONT KNOW WHAT IT IS

[@iamfromindia4971]

Then you're dumb not his fault

[@hanro7430]

Its the implementation of an invention. You can invent poop soda but nobody would buy it so its just an invention not an innovation

[@monotheist..]

apple serve world problme commercialize the computer great value serve world commercialoze for teh world

[@Goforussendme]

I watched this today

[@sohangoel5710]

completed