23.2. A New Model

Innovation in the new economy requires a new model. At my company, The Idea Factory, we call the process innovation aggregation—the systematic integration of large-scale components crucial for innovation: talent, capital, intellectual property, personal and corporate relationships, innovation methodologies, foresight tools, and the ability to link resources in diverse geographies and disciplines.

An idea factory provides a context for innovation that allows this integration to take place.

Although the idea factory concept is itself a work in progress, if I could offer a prediction at this point, I would say that within the next five years, many organizations will have such explicit, embedded innovation systems. They will have ...

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