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You Don’t Need to Be a Startup to Innovate

Jamie Carracher, Sr. Manager, Web Content, Consumer Technology Association

It’s conventional wisdom that small startups can innovate more nimbly and aggressively than some of their big corporate competitors. But what if big companies held the advantage?

It turns out, innovation isn’t the exclusive domain of small companies. “Big companies have the capacity to change the world,” writes Scott Anthony with the consulting firm Innosight.

He points to three reasons why big companies are important players in the innovation ecoystem:

  • They can recognize and adapt to change gradually, which helps prevent “creative destruction” from destroying too much.
  • There are many fields where startups aren’t as active or interested, like mining, construction and agriculture.
  • Sometimes big problems require big solutions with the big scale only large companies can provide.

Read more on Do you agree, and does your big company have an innovation strategy?