Large companies open facilities in new locations all the time. The reasons may be to access new markets, to expand their manufacturing and distribution footprint, or to access talent and open innovation in an industry hub. When they do this,
Open innovation is the concept of solving problems using ideas and expertise that are outside of a company’s practice of proprietary research and product development, which is a closed system of innovation. The term “open innovation” was coined by business
We are in a phase of entrepreneurship where new brands are proliferating and even displacing older established brands. Media personalities like 21-year-old Kylie Jenner has become a billionaire with her own line of cosmetics. Last week, Michelle Pfeiffer launched her
There is a big difference between startup incubators and startup accelerators. Both are important in any innovation hub, as are angel investors, and early stage venture capitalists. The differences are often not well-understood, and they are worth pointing out here.
One of the common advantages cited by startup incubators is the connectedness they offer to people working in them, or by just “hanging out” in their space. In the early-2000s, I was working for a company that was a tenant