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Summer best time to invest in innovation

2 Jul 2019

July traditionally marks the start of summer holidays but strategic planning in business doesn’t take a holiday. However, time out can be an excellent way to engage focus as to your business purpose. Innovation is no different says Janet Toal, Innovation Project manager InterTradeIreland.

To cultivate and nurture an innovation culture in any business requires creativity. Most of all, it requires the support of your people. Prof. Gareth Jones argues effective leaders use their emotions to liberate the energy of others and ensuring employees take time off is essential not only for their work/life balance but also to ensure they return to work re-energised, ready for fresh challenges.

Previously the Director of Human Resources and Internal Communications at the BBC, Professor Gareth Jones is recognised as a leading expert in organisational design, culture, leadership and change by both the academic and corporate worlds. His insightful talks are fascinating and promote creativity as a source of competitive strength and inspiring an effective organisational culture.

His statement that, ’creativity increases with diversity and decreases with sameness’ would support the argument that for businesses to compete effectively and profitably, innovation is key.

Effective leadership excites people to exceptional performance says Jones, so take this summertime to reflect personally and your business should be no different. Using downtime, consider how innovation could drive your future activities like exploring process improvement or product development won’t be time wasted.

When you’re busy focusing on your own industry, it’s easy to miss opportunities that could lead your business to new and lucrative markets. By joining forces with a partner outside of your industry, such as a University or even from a completely different sector with skills complementary to your business, opens possibilities for creating innovative products that attract new markets. Diversity of thought is key.

So when you get back to your desk, check out InterTradeIreland’s FUSION programme. Designed to help businesses deliver on those creative ideas, we have supported over 700 collaborative partnerships on the island for 20 years.

FUSION is a knowledge transfer partnership where we work with you to find and fund a high calibre science, engineering or technology graduate and partner you with a third level institution with specific expertise. Currently there is funding up to £56,000/€67,900 available for eligible companies.

Collaborative innovation is our thing. Find out how we can help make it yours too.

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