Innovation Design & Entrepreneurship Academy #IDEA

Your Idea needs our IDEA.

Innovation, Design and Entrepreneurship Academy (IDEA)

Toolsets. Skillsets. Mindsets.

[Aaron Levie @levie]

This image cost more than Facebook’s angel funding round. Everything is fine.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

@kunkmoney @MrRational15 @Cribdilla In Mumbai, you basically have to sign a 11 month lease and a pay a deposit for all the 11 months to get a property. Anything over 12 m lease has similar NY issues.

[Marques Brownlee @MKBHD]

Alright, I'll be giving away this $10,000 Gucci XBox to a follower who retweets this in the next 24 hours. I'll ship it anywhere on earth. Good luck.

Here's what's inside: https://t.co/Mung64czZs

[Demis Hassabis @demishassabis]

Ramanujan is my favourite mathematician. I’ve always loved his intuitive style, seeing hidden patterns in numbers noone else could. It inspired us to wonder about the potential of using AI as a tool to help the intuition of today’s top mathematicians: https://t.co/oyD01s9daR

[Visual Theory @visualtheory_]

@balajis

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

Is to create space for innovation, lead from the top and accept failure.

Innovation is a discipline and a process.

[Alex Osterwalder🇨🇭 @AlexOsterwalder]

The #1 thing to unlock innovation in established companies & organizations is ______________

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

For the past few days we have been discussing the various profit models in the doblinmodel and how we can use them in our own innovations.

Premium
Cost Leadership
Scaled Transactions
Microtransactions
Forced Scarcity
Subscription
Membership
Installed base
Switchboard
Auction

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

There are lots of dynamics here. More here - https://t.co/QeQqYb1tZq

The current academic research suggests there are more efficient ways of doing this.

Overall, Auctions are a powerful profit model to understand.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

Continuing the Auction profit model, the entire business model of Google and similar ad-based sellers are based on auction.

At the start they were based on what you can call second-price sealed bid auctions. All the advertisers will bid in a sealed-bid approach.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

The highest bidder wins the auction and gets their advertisement placed on specific pages for specific users, but pays the price of the second highest bidder plus $0.01. The $0.01 is to differentiate the highest bidder from the second highest bidder and to allow the highest.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

A great thread on story telling.

For your idea storytelling is the lifeblood. Whether as a startup or in corporate or a life mission in a social enterprise, your story telling capabilities matter.

Go, have a read. Thanks @Julian

[Julian Shapiro @Julian]

This is my 5 year story about becoming a far better storyteller.

Goal: Tell a story as well as Neil deGrasse Tyson.

It started with me podcasting to share stories with friends. Every time I spoke, however, I sounded lifeless like a stressed-out amateur.

Why?

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

Rationing (or in IPO speak, allocation) makes a key role in how new shares are allocated to investors.

In some cases, large institutions investors are provide a lower price than retail investors to drive up demand.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

IPOs when private companies and startups go to list on the stock markets are actually a form of "auction".

In this case, the demand for the IPO will determine who gets and what and can increase the final price as it is similar to bidding.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

The google model of platform we discussed earlier has an "auction" component on the advertisers side.

Advertisers bid for "adwords" and they enable price discovery on the platform automatically.

Auctions should be used carefully and has many pitfalls.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

Real Estate agents employ this well. In fact, they are one of the original "switchboard" operators for buying property however, depending on the market (generally when it's a sellers market) they change to the "auction model".

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

The auction model again is one of the oldest in human history.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

The doblin model of Innovation - Profit Model

✅ Auction

Allow a market—and its
users—to set the price for
goods and services.

[Innovation Design & Entrepreneurship Academy #IDEA @Idea_Learn_Do]

The switchboard model is the earlier incarnation of "network and platform" models.

So the latest innovations like @airbnb @uber and a range of Platform business models are all based on this.