The Challenge of Finding a Gem in the Idea Quarry

In the corporate world of disruptive growth, a flood of ideas often results in a dry spell of practical concepts. A recent venture competition with one of our clients perfectly paints this picture. With a team of engineers and a wave of ideas, the path from concept to venture-worthy idea was challenging.

The process kicked off with a learning session, sketching out the framework for a solid venture concept. We provided a guide, filled with thought-provoking questions designed to filter out less promising ideas and highlight potential ones. The response was massive, with 180 concepts rolling in from all corners of the organization.

However, a closer look unveiled an unfortunate truth — not all ideas are born equal. Despite the multitude of concepts, only a few had the potential to become "venturable" — a term we use to label an idea that is scalable, profitable, and capable of carving out a market niche.

Many corporate bodies grapple with this harsh reality. Engineers and R&D professionals, despite their technical skills and creative abilities, don't always have the entrepreneurial flair. They can come up with brilliant, disruptive solutions, but turning those solutions into feasible business propositions can often be a stretch too far.

Two to five of the ideas stood out, with decarbonization and direct air capturing showing promise. However, the gap between these few and the remaining majority was broad and revealing. It highlighted the need for a thorough, unbiased process to filter and refine ideas, morphing them from abstract concepts into ventures ready for nurturing.

The challenge lies not in the shortage of ideas, but in the surplus. It's like searching for a needle in a haystack. You need to sift through a pile of possibilities, each with its own set of hurdles and potential rewards. You need to look beyond the boundaries of your own organization and consider the larger market landscape.

What's trending in breakthrough technologies? What's likely to be transformative and drive substantial revenue? What can be developed swiftly and profitably? These are the questions that need answers, and they demand a level of expertise and insight that goes beyond engineering and R&D.

Despite the hurdles, the potential rewards make the effort worth it. The process can ignite a transformation within the organization, turning researchers and engineers into entrepreneurs. It can cultivate a culture of disruptive growth that goes beyond generating ideas to nurturing ventures that can fuel growth and create market dominance.

The real challenge isn't just coming up with ideas, but also fine-tuning those ideas, understanding the market, and starting businesses. This needs a team with a mix of skills, including both technical know-how and business savvy. It also needs a quick, flexible, and adaptable process that can keep up with the fast-changing world of disruptive technologies.

Wrapping up, the journey from thought to business is tough and complicated. But, with the right team, the right process, and the right attitude, you can tackle this challenge. Keep in mind, the aim isn't to dig up every rock in the idea quarry, but to spot the gems that have the potential to grow into successful and profitable businesses. In this tough task, the rewards — both money-wise and transformative — can be really amazing.