It is a new concept about Innovation. Hybrid Innovation gives a new response to face the problems and new paradigms in this world of global economies and interconnected environments. In every moment of history, changes and crisis have transformed the way we use technology for helping human being. Innovation had to adapt to the needs of the population because, what good is innovation if it is not useful in real life? Today’s Innovation Challenge is Hybrid Innovation. It is difficult to give a short definition about Hybrid Innovation but we will try find a good one. Here we go!

Hybrid Innovation: what does means exactly?

Hybrid innovation is really old and new technology toghether. It is the solution to a need that was already really covered with the old technology but with new technology, and obviously the solution given is better and more in line with consumer needs. And hybrids (products and services designed by Hybrid Innovation) try to attract customers who already consume the old technology.

So, how can an entrepreneur take advantage of Hybrid Innovation? An entrepreneur must pay attention to the world and news around him in order to detect the needs created or some of them that are not satisfied properly. And for that yo will need an strategy to identify a system for value creation and value capture before the opportunity for value capture is dissipated. But the paradox of entrepeneurship is that experiments and learnings are needed in order to define a meaningful value proposition while also choosing a focus and making the commitments that are necessary for competitive advantage.

So, what is the path?

Hybrid Innovation: Hypotheses Driven or Trial And Error?

Mostly, entrepreneurs have limited resources., we mean: money and time. And of course Hybrid Innovation makes them take a high risk decisions very often. That is why effective entrepreneurs define a vision and a strategy of how they will create and capture value. That strategy must follow a plan, a path. Remember the 24 steps to a succesful startup of Bill Aulet.

Experimentation and learning are fundamental to any new venture but value of experimentation is higher when is guided by strategic priorities. And of course if your strategy fails, you must refine and adapt it.

What do you think about Hybrid Innovation and the way you can take advantage of it?