Innovation is not rocket science. It is not about spending big bucks. It is the ability to see the "obvious". Innovation is a mindset that puts customers at the heart of everything. The most innovative companies have come up with simple observations that have made them world class.

1. INNOVATION
What it is NOT

2. What is NOT Innovation?
• Innovation is NOT rocket science
• Innovation is NOT spending loads of money
• Innovation is NOT for someone with fancy
degrees
• Innovation is NOT just for geeks
• Innovation is NOT Invention

3. What is innovation?
It is the ability to look at the “obvious”!
Innovation is about taking an existing thing and
doing it differently that makes it better than all
others.

4. CASE STUDY

5. IKEA
When Ingvar Kampard (founder of IKEA,
then a small time businessman) was
struggling to load a table into a customer’s
car, he was struck by a thought; wouldn’t it
be easier, he reasoned,
if I took the legs off?

6. IKEA – Self Assembling
IKEA sells furniture as components in a carton. It provides
necessary instructions and tools for customers to assemble
the furniture at home.
BENEFITS
• Helps reduce cost and use of packaging
• Customers find it easier to carry in their
cars and in public transport

8. CASE STUDY

9. Airbnb
Joe Gebbia and Brian Chesky were struggling to pay their
room rent. There was a conference happening in their city
and all hotels were booked. So to earn some money, they
decided to rent three airbeds to guests who would come to
the city for the conference.
They put up a website and within 6 days they had three
guests in their house using their rented airbeds.

10. Airbnb
BENEFITS
• Travelers could find affordable and decent
places to stay
• Gave people, with extra room spaces to
rent, an additional income source

12. Innovation in India
Innovation through missed call
Sachets for BoP people
Understanding the Consumer Psychology is at the heart
of
Innovation

13. Therefore Innovation…
Pic Courtesy – bj-o23 at Devianart

14. Want to Innovate?

15. Innovation – Start today

16. About the Author
Raunak Guha: Co-Founder of FounderMates.com
Raunak holds an MBA in Innovation & Entrepreneurship
from Imperial College, London. Prior to starting
FounderMates.com, he worked as a Business
Development Executive with a Financial Analytics SME
in the UK. He has been very active in the startup eco-
system in the UK and possesses a deep passion to
foster entrepreneurship globally.
To know more, check out www.foundermates.com.
He can be reached at: raunak.guha@foundermates.com