Posted By: Bala
Arising from its roots in the US, biotechnology today is a global enterprise. Cutting-edge tools are transforming traditional models of drug discovery and development and diagnostic testing. They are enabling the potential for largescale production of renewable fuels, biodegradable materials, safer industrial chemicals, and food crops grown under harsh conditions. The practice of technological innovation in the industrial era – the systematic application of ideas, inventions, and technology to markets, trade and social systems – is now being joined with the code of life through rapid DNA sequencing and synthesis technologies.
The pace of bioscience innovation is also influenced by the geographic concentration of research, entrepreneurship, and investment (clusters). Policymakers are just beginning to consider and debate the implications of the new biological technologies: the promises they hold for global public health, natural resource conservation, and economic growth, and the risks they pose from their power and accessibility around the world.
If you are one of the aspiring enterprise or team to produce breakthrough innovation in this space, you are at the right place to start your journey. Use this assessment to identify your strengths and opportunities, understand where you are in your innovation journey, and where you want to go? Good luck.e Innovation has put-together this assessment for you to quickly discover where you are and where do you want to go in your own journey of Healthcare Innovation.
What and how we assess Bioscience Innovation?
How the scores are calculated by our assessment?
The above exercise is pretty quick. It can be completed by any stakeholder in about 15-30 minutes and results in a visual way to represent where one’s Innovation Program technology sits in comparison to industry benchmarks. Additionally, it can be completed by multiple individuals within an organization to calibrate a mutual understanding between their collective Innovation Program departments and/or other internal stakeholders. Maturity (scale of 1 to 10) is explained below.
- Just realized – Process not in place, however, there is a realization of the need.
- Initial (chaotic, ad hoc, individual heroics) – the starting point for use of a new or undocumented repeat process.
- Repeatable – the process is at least documented sufficiently such that repeating the same steps may be attempted.
- Defined – the process is defined/confirmed as a standard business process.
- Capable – the process is quantitatively managed in accordance with agreed-upon metrics.
- Efficient – process management includes deliberate process optimization/improvement.
- Innovator – Started challenging status-quo and incremental innovation started at the edges.
- Disruptor – The tangible impact of the innovation has been proven, started institutionalizing the sustainable.
- Market leader – You are nailing it.
- World-class – The true north of all.
And the final Report is:
** Blue bar represents Innovation Minds benchmark baselined from 25+ companies we worked with, and the black line represents where you may stand.