Archive for the ‘Innovation’ category

Mram could one day overthrow hard discs and flash memory

July 23, 2006

BBC says : magnetoresistive random-access memory or Mram could one day overthrow hard discs and flash memory

A couple of weeks ago a company called Freescale announced that it had produced a working Mram chip which can hold four-megabits, that is about half a megabyte.

It is very small compared to the Ram and flash chips on the market, but it is a start.

In fact many companies, including IBM, have been working on the nanotechnology behind Mram for around a decade.

Put simply, Mram stores data magnetically, in the same way a hard drive does. This makes it non-volatile.

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Powerful Idea?

July 13, 2006

How do you create a product? You have an idea, you are passionate about it, you either invest your time and money to do it or you approach your contacts to know if they will be interested to team up and do it for you.
You venture into finding the right contact and realize that you have spent enough of time “building a team”, that’s when you get impatient and decide to approach some software company who can do it for you.

When you get the cost breakdown, you realize the cost is too high for this idea and look in market if there is already a similar idea in market ;). When you find similar one, you say no this idea is duplicate and it won’t work and you are going to dump the idea. Only if no body has thought this, you decide you will do it!!

Isn’t this a standard pattern to go round and round in search for potential idea? But I differ to say “An idea is not powerful just because it is unique and no body has thought about it but an idea is powerful when similar idea is tried and tested out and the idea you are introducing has “innovative variations” to previous ones and also there is robust business plan to support and execute it to excellence”

Was Google a powerful idea when Sergey and Larry started?? No there were already 10 search engine in market!! But Sergey and Larry introduced that variation “page rank” in search engine which made Google to stand tall among the crowd.

There are similar examples from Richard Branson’s Virgin Group’s approach to adapt new business. I was reading an article/book in which Richard supposedly said that “Virgin group can venture trying out an idea as long as there is robust business plan for the same”. Virgin group’s success in various venture definitely echo this.

We at Adipt get few customers coming to us to develop the idea, some potential entrepreneurs drop on the way and some carry on holding “just the idea”. However we have made it a principle that we guide our customer to evolve the business plan and bring success to them.

Do you think any idea should be tried?

Accident Innovation :)

July 11, 2006

HBS Working Knowledge has an excellent article on Accident Innovation with author Sarah Jane Gilbert

Companies spend many hundreds of billions of dollars on R&D each year, but the microwave oven was conceived from a melted candy bar, saccharin from an accidental chemical spill, and the Daguerre photo process via a shattered thermometer. Accidents happen—and we’re all better off because they do.

Q: Is there a way innovators can encourage good accidents? In other words, is there anything we can control to foster this process?

A:In 1960, a guy named [Donald] Campbell proposed that we think of creativity as “Random variation + Selective Retention.” That is, we need two processes, one to generate things we can’t think of in advance, and another to figure out which of the things we generate are valuable and are worth keeping and building upon.

Mobile Payment

June 28, 2006

RedHerring has an interesting interview with Mark Friedman, Peppercoin.

Mark explains nice business case behind Mobile payment

One of our merchants is Duncan, the world’s leading provider of onscreen parking solutions. They’ve got 60 percent of the U.S. market. One of the capabilities that we enable for Duncan is a mobile payment for motorists.

 

“Let’s say you parked at a Duncan parking meter using your credit card. You paid for two hours of time an hour and 15 minutes ago, and your meter is about to expire. What we enable is you get an SMS [short message service] text message sent to your phone before the meter expires.

 

By hitting the right combination of keys on your mobile device, you can top up the meter remotely and it’s charged to your credit card. That’s an interesting example of mobile payments.”

To the quesiton : How do you see yourselves evolving?

Mark Friedman says :

……

First we evolved from micropayments, which you would define as $5 and under, to small payments of $25 and under. The reason we did that is because in discussions with card associations like Visa and MasterCard, and the large banks, they were all putting together strategic initiatives at the $25-and-under market, the small-payments market, and they needed a cash replacement. That’s how we evolved.

 

We built up a capability that not only allows us to do the online market, but more importantly, allows us to get to mobile and the biggest market, which is the point-of-sale market. Our approach today is to offer a hosted service to merchants that we extend into the payment system.

 

But what we really want to do is license our technology to the banks and the payment companies so they can offer this capability directly and run it themselves. Our biggest competition is the build vs. buy decision that the banks and payment companies will face.