What Is "It"?

Innovation (n.): "The intersection of invention and insight, leading to the creation of social and economic value."

You can't pick up a business magazine without reading about it. Or listen to an executive interview nowadays without hearing about it. What is "it"? Innovation. Yeah, you want your organization to reflect "it". You want your products to embody "it". Heck, you hope you have "it". I know I've been talking a lot about "it" lately and hope that the Accelerator and our ventures have "it". But here's the $64,000 question (and believe me, winning $64K was a big deal a generation ago): What, exactly, is innovation? What does it look (smell, taste, feel ...) like? Can it be developed to grow in people, organizations, or even communities over time like a muscle can be trained to get stronger and more useful? Is it like air or can people/ organizations/ communities live without it for a long time?

I don't have all the answers but I do know that I've been spending some quality time trying to wrap my head around the essence of innovation. My gut tells me that our organization, our ventures, and for sure our community will need bigger and bigger doses of it and now my head is demanding that I get closer to figuring out what "innovation" means in the context of our efforts to support a more entrepreneurial, vibrant, and impactful social sector. If there's one theme that's come through loud and clear so far, its that there can't be an innovation without engagement with the real world to test if a great idea really works, that is, has a tangible impact that is readily apparent.

After all, Edison's work with the light bulb would have been an interesting science experiment if it hadn't been tested in the real world and a host of other, supporting, innovations and the development of standard practices hadn't followed. And, even though Edison was recognized as the originator of the innovation, he didn't control its on-going development. For example, his use of direct current later lost out to the alternating-current system developed by the American inventors Nikola Tesla and George Westinghouse.

Looks like I've got my work cut out for me ...