Innovation and Entrepreneurship


  1. Innovation is the process of creating a new way of doing things. Innovation differs from improvement because it is not limited to doing the exact same thing in a more efficient way. Instead, innovation combines invention (the creation of a new product or idea) with improvement,(building upon a product or idea). Below is a short documentary profiling individuals who used innovation to create trends and brands that socially influenced others around the world. 
  3. As mentioned in the video Influencers, "Brands are established by consistently doing great things". Brands that continue to create innovative products are the ones that excel. It is creative stagnation the leads to a products downfall. Examples of this can be seen through such  successes as Apple, Samsung, and Google. With this trend of social innovation comes the rise of startup culture and entrepreneurship. 
  4. The first term to distinguish is, what is an entrepreneur. Entrepreneurs are individuals who use innovations to create an economic good. This is often done through such things as starting a new business or startup. Another example of an entrepreneur is the intrapreneur. The intrepreneur differs from the entrepreneur by not starting their own company, but instead, the intrapreneur is someone who works within a large organization and overtakes innovative projects to excel  the company. 

    As mentioned in the article by Judith Clegg, there has been a significant interest in the rise of startups. Clegg argues that startups are booming because startup culture works. These new startups work as a business community that is competitive yet cooperative, nurturing to new ideas, and helpful towards others in the community. A social attitude that inspires innovation and fosters growth in business. At the moment, one of the most popular startup spots is in Austin, Texas and this years SXSW. An annual music, film and technology festival. 
  5. As discussed last week in class, the startup is one of the new biggest buzzwords. Being an entrepreneur is seen as something sexy, almost like a celebrity. This could explain the recent rise of new young entrepreneurs breaking into the industry, especially in the technological field.  The trailer below showcases this through the success of such people as Alexander Jung, the founder of Soundcloud, to Duston Houston, the creator of Dropbox. 
  6. The Startup Kids - Official Trailer
  7. As mentioned in the trailer, "Entrepreneurship is like the new smoking. It's now cool to be creative and making something". With this said, do you believe this rise in entrepreneurship is because it's now "cool" to be an entrepreneur, or because our culture is now more receptive to innovation?  Is startup culture a fad, or a rising movement that will continue to change the world?