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Increasing Innovation by Extracting Techniques from Startup Companies

Siddhi Parikh, Stony Brook University

Project Summary
Successful startup companies often are able to create and push for more innovative
products and technologies in comparison to corporations despite the lack of the large budget that
corporations possess. This is often due to the inherent structure difference between the two
business forms. While corporations have higher success rates with the systemized process they
have, they often improve current products instead of looking to create entirely new products due
to risks and the difficulty of doing so within their company structure. The comparably small
structure of startups allows for more intimate and more hands-on production of innovative
products that they themselves market.
The goal of this proposal is to create sub-projects underneath the wing of large
corporations to create similar structures to startups with the funding and marketing power of
large corporations to produce a higher amount of innovative products. These sub-projects would
have individuals who work solely on the project together so they are able to create projects with
a probability of success, and reject the projects with a probability of failure at a higher turnover
rate to increase the rate of brand-new products for the market.
(1) Decrease the delay time. With individuals from departments of design, production and
finances there is a lower wait time in putting together prototypes with a higher
communication between different aspects.
(2) Change product failure evaluations. Instead of quickly rejecting prototypes market
tested to a lower success rate, these projects should be encouraged and judged based on
further progress made on the product.
(3) Work on creating all-new products. Using resources from all different aspects of
production, there should be more thought and push towards creating products entirely
form basics.
Intellectual Merit. This proposal seeks to create a new form of projects within large companies
that could lead to better production within the company, and a better way of producing
prototypes that can be examined by looking at financial statements and trends. Evaluating the
dynamics of how the smaller group settings would be able to coexist and properly integrate
within large corporations would be interesting to investigate as well.
Broader Impacts. If the proposal were seen to have positive results, then this would be a
possible new way of corporations and large companies to improve their innovation rate. More
products would be able to move into the market.

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