Inventor: An inventor typically uses available technlogy components and creates a new technology that can be further adopted in creating technologically advanced products and services. Pranav Mistry, no doubt, is a genius inventor. What he has done is so simply beautiful! I am sure many would have thought "Why did I not think of it before?". But does Pranav Mistry go beyond being an Inventor?
Innovator: An innovator would use available technology and inventions and create a product or service that does not exist before and those that can be used by regular people in their day to day lives. The technoogy outlined by Pranav Mistry would now need to be accessible to products and services designers to incorporate into usable products and services. E.g. Mobile phone or laptop designers may be one such group that may use the technology in designing innovative products. In all probability, the role of the innovator could very well be taken up by the product development teams in product designing companies. A person like Pranav Mistri could very well be a part of such innovating teams. The key factor in Innovation would be to apply the invented technology to usable products.
The Entrepreneur: But just designing an innovative product or service is not the end of the story. The entrepreneur would be the next entity in line to carry the story ahead. The entrepreneur would need to look at making appropriate business decisions regarding the business of making and selling the innovative products. These business decisions need to be made in the face of uncertainty and rewards for risks taken. These decisions need to be in areas like:
- Markets to enter
- Target customers
- Production capacity and volume
- Input factors
- Product costing
- And other business management areas.
The flag of entrepreneurship in this case could very well be taken ahead by the operations teams of the companies selling such products. So, the entrrepreneur entity would be the one who can take up the innovative products and build a successfull business out of it by undertaking the risk in making business decisions in the face of uncertainty.
To summarize, I believe the story started by Pranav Mistry has an exciting life ahead and should be full of twists and turns as the innovators and entrepreneurs adopt it and add their bits to it to cater to the masses at large, the dream shared by Pranav Mistry.
2 comments:
Good post sandeep, gained lots of insight on the eco system of inventor, innovater and entreprenuer from you in discussions .One thing I am very clear about , innovators like lary & segey, Sabeer bhatia, orkut, pranav need entrepreneurs who can take them under wing of protection and yet give them entire sky to explore rather than those predators who in a jiffy to make quick money kill the opportunities of an innovation at much earlier stage
Very true. And many a times, there are some peripheral technologies that also need to be in a developed state for the invention to take off commercially.
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