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Driver for Adoption of an Innovation: Technology or Market?

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What is the driver for new innovations? Does technology drive new innovations or does the Market dictate need for new innovation? 

In many ways we are speaking about the two sides of a coin. So the question is, what is the coin made of? (sorry to get too philosophical, but allow me to please).

Technology is something that gets created by technologists because:
1) It is Human Nature to Create and Solve - the passion and desire to solve something far greater then one’s self (Human Spirit as the driver). There are many who simply create because they want to serve. There is nothing in it for them, but to experiment and create.

2) Motivated by raw Discovery and Inquiry – just to see what can happen (Academic Personal Brand as the driver – in most cases). Of course academia is far removed in many cases so piles of patents/technologies are created without a home for applications. 

3) Marketers ‘tells’ the technologist what the market demands are and they go off and innovate (Market Driven). Of course we know how often the product actually generates the indented impact – not very good (and both the marketer and the technologist gets ‘restructured’…lol). 

4) As the recent new Hollywood movie “Wall Street” depicts and as the Mortgage Crises occurred here in USA, we also see Financial Performance as the driver for new innovation at the cost of societal damage (Greed as the driver) 

5) I also think technologist stay busy because of fear. Either they or someone else in their organization is fearful of losing to competition, losing their job, losing their reputation or losing their personal belongings. (Fear Driven) 

I believe that Market Driven has two definitions: 1) There is an unmet Market need in the current market and 2) There is a new market being developed that is un-harvested. 

If we assume the Fortune 1000s or Global 2000s as the context, I think that most innovation is driven (funding) by the “Current Market Conditions” and the “Adjacent(near future) Market Conditions” of those markets.


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