Crisis spawns Necessity. Necessity fuels Innovation. McKinsey & Co have reported that the pandemic response is that Companies are deprioritizing innovation to concentrate on four things: shoring up their core business, pursuing known opportunity spaces, conserving cash and minimizing risk,
However in past crises, companies that invested in innovation delivered superior growth and performance postcrisis.
JFK once observed that the word “crisis” in Chinese is made up of two characters—danger, and opportunity. He may not have been entirely correct on the linguistics, but the sentiment is true enough.
How do companies find creative ways to continue fund their innovative projects?
Dr Vivien Badout, CEO of DRIAD innovation consultancy for deep-tech start-ups and SMEs. and expert in innovation grant funding joins us to help answer that question