Some Thoughts About the Essential Ingredients Beyond Technology and Money for Innovation Success.

This post highlights some insights shared with the students in a session of the Fundamentals of Innovation and Entrepreneurship undergraduate class at Abu Dhabi University.

The Question

What drives innovation (entrepreneurship?) forward? At first glance, it seems like cutting-edge technology and generous funding would do the trick. But the truth is, in my humble opinion, there’s more to it. To truly advance an idea, we need to look at the bigger picture.

The Challenges

Innovation comes with its own set of hurdles: 1?? Team Dynamics: Ever worked on a group project where few, if any, were on the same page? That lack of alignment can stall even the best ideas. 2?? External Factors: The world around the project—societal trends, environmental realities, and market demands, regulations, among others—plays a huge role in shaping what works. 3?? Readiness Levels: Moving a project through its Technological Readiness Levels (TRLs) and Investment Readiness Levels (IRLs) takes more than just great ideas. It’s about building the right balance of technology, people, and strategy.

Let’s break this down with a few insights.

1?? People Make Progress Possible

Teams with clear goals, or the flexibility to (re-)adapt to changing goals continuously, and open communication create the conditions for innovation to evolve. It’s more than just technical skills; it’s about working together effectively.

Example: Planning a road trip? Even with the best car and a perfect route, you’ll only get there smoothly if everyone agrees on the stops and snacks. Similarly, innovation moves forward when people collaborate.

2?? Context Changes the Game

Every idea exists in a broader environment. Projects evolve best when they align with societal needs, regulations, and market timing. Sustainability, beyond being a buzzword, matters and affects any project opening multiple fronts.

Example: Imagine organizing an outdoor event. A great venue and entertainment are essential, but success comes when you’ve also accounted for the weather and audience preferences. In innovation, the external environment, and many other foreseeable and unforeseeable conditions, shape how projects develop.

3?? Equitable Balance Drives Readiness

Advancing TRLs (how ready the technology is) and IRLs (how ready the project is for investment) requires a delicate equitable balance. It’s beyond technology maturing—it’s about integrating technology, teamwork and environmental factors consciously into the process. "Equitable" means "changing with the past, present and future contexts," "dynamically adapting the relative weight of technology and other controllable factors to those contexts," and "concentrating on the final goal."

Example: Moving from TRL 1 (basic principles) to TRL 3 (proof of concept) often focuses on the technical side—testing if an idea is even feasible. But to attract initial investment (IRL 1–2), teams also need a compelling pitch and early alignment with market needs.

As the project progresses to TRL 5–6 (validated in a relevant environment), the IRL must also advance to 3–4. This means demonstrating not only the technology’s potential but also the business case to early investors.

Finally, getting to TRL 9 (full deployment) requires everything to come together: advanced technology, strong team collaboration, and IRL 6–7, where the project has a proven market, financial backing, and operational readiness. It’s this interplay that transforms ideas into real-world solutions.

Moving Forward

To overcome these challenges and drive innovation, ask yourself:

• How are the people involved working together?
• What external factors can influence the project?
• Are we balancing technology, people, and context to advance readiness levels?

Final Thoughts

Innovation is a journey, and it’s about more than just tools or budgets. By focusing on people, context, and readiness dynamics, we can guide ideas to their next stage of evolution.

Thanks for reading.