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Is innovation the answer?

As the UK government rubber stamps a £1.25bn innovation fund and puts its faith in startups and R&D “power growth out of the coronavirus crisis”, is innovation the answer to emerging stronger from coronavirus?

Below are the thought's of Rare MD, James Hirst, as featured via MAD//Fest recently.

“In his book, Sapiens, Yuval Noah Harari suggests that Homo Sapiens still exist because during the Cognitive Revolution, our ancestors developed the ability to transmit information to each other. So, whilst we weren’t the strongest or fittest, we are the only species here today.

“What this suggests to me is that you cannot innovate for the sake of innovating, you need to understand yourself (your business) and how to consistently adapt, grow and survive.

“Throwing money at ‘shiny’ innovations for the sake of it is not going to ensure survival. What will is offering something that is relevant, having a sustainable business, adapting where necessary, investing wisely (whether it’s people or technology) and ensuring what you do invest in is true to your business and you’re not “chasing the market.

This is how start-ups and multinationals alike will emerge stronger.”

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