Enterprise Innovation Institute - Frequently Asked Questions
Why was the Enterprise Innovation Institute formed?
Companies can no longer compete in the world marketplace just by becoming more productive – reducing costs and boosting efficiency. The 2005 Georgia Manufacturing Survey found that manufacturers choosing to compete by developing innovative products and processes report significantly higher returns on sales, pay better wages and have less to fear from outsourcing than do manufacturers that seek other competitive advantages. Application of innovation will be the key to competitiveness – and success – in the future. Similarly, communities and governments must also adjust their competitive strategies.
The National Innovation Initiative, which was co-chaired by Georgia Tech President Wayne Clough, underscored the importance of innovation when it said: “Innovation will be the single most important factor in determining America 's success through the 21st century. The legacy America bequeaths to its children will depend on the creativity and commitment of our nation to lead in a new era of prosperity at home.”
In his best-selling book, The World is Flat, New York Times columnist Thomas Friedman described the competitiveness issue this way: “In a flat world,” he said, “there is no such thing as an American job. It's just a job, and it's going to the most efficient, smartest, most effective person who can do the job….” Using Friedman's language, the goal of the Enterprise Innovation Institute is to help companies and communities become the most efficient, smartest and most effective at what they do. That will require embracing innovation – and continuing the productivity improvement process that is already taking place.
The Enterprise Innovation Institute brings together four divisions that can provide more comprehensive services by working together. Bringing these units together also allows a sharing of expertise and experience, and provides an economy of scale that allows more to be done with limited resources.
What do you mean by the term “innovation?”
“Innovation” and “invention” are often used interchangeably, but there are important differences. Georgia Tech President Wayne Clough uses an application-oriented definition: “Innovation…emerges at the intersection of science and technology with business and the marketplace. Innovation begins with research that generates breakthroughs in science and technology.”
The mission of the Enterprise Innovation Institute is to help enterprises of all kinds apply science, technology and innovation to improve their competitiveness. Georgia Tech is a major developer of advances that have industry applications, and those can be applied to create innovation.
As explained in the 2005 Georgia Manufacturing Survey, innovation can lead to development of new products or new processes – or to new organizational structures, new marketing approaches or new services. Examples of innovation include Apple's iPod music player that created a new market, Google's continuing development of new services, and Aflac's “talking duck” marketing campaign.
What happened to the Economic Development Institute's industry assistance programs?
The Economic Development Institute (EDI) was formed in 1993 to bring together what had been independent centers that assisted manufacturers with specific issues such as quality and international standards, lean enterprise, energy management, environmental management and similar services aimed at improving productivity. EDI has been extremely successful in helping companies adopt these cost-reducing and efficiency-boosting processes.
In this global economy, however, those productivity improvements are no longer enough by themselves. In addition to becoming more productive, companies that want to compete successfully must also develop innovative new products and new processes. The Enterprise Innovation Institute will continue to offer assistance in productivity areas, and those have been combined into a more strategic process that assesses each company's needs and provides comprehensive solutions that address the need for innovation.
Where is the Enterprise Innovation Institute located?
The Enterprise Innovation Institute is headquartered in Technology Square, part of the Georgia Institute of Technology campus in midtown Atlanta. Divisions are based at 760 Spring Street, and in the Centergy One Building at 75 Fifth Street .
Services of the Enterprise Innovation Institute are provided by a statewide network of regional offices that serve Georgia companies and communities. The regional offices are staffed by professionals with broad experience in issues affecting companies, communities and entrepreneurs. These regional office staff can call upon the expertise of the broader organization – and other expertise at Georgia Tech – to meet the needs of companies and communities wherever they are located.
What are the divisions in the Enterprise Innovation Institute, and what do they do?
The new Enterprise Innovation Institute provides services through five primary divisions organized by customer group. They are:
- Industry Services, which focuses on industrial customers around the state. This unit includes (1) the Georgia Tech Regional Office Network; (2) Atlanta-based product centers that focus on such strategic issues such as new product development and overall competitiveness, as well as productivity improvements such as quality, lean enterprise, energy and environmental management; and (3) federally supported programs such as the Manufacturing Extension Partnership and Georgia Tech Procurement Assistance Center .
- Commercialization Services, which focuses on moving technology out of the laboratory and into the marketplace. Commercialization Services identifies Georgia Tech innovations with potential commercial value, works with faculty to determine the best path for commercializing the technology, and – where appropriate – involves experienced entrepreneurs in forming new companies.
- Entrepreneur Services, which focuses on meeting the needs of emerging companies around the state. The unit includes the Advanced Technology Development Center (ATDC) incubator, the Georgia Statewide Minority Business Enterprise Center, the Centers of Innovation program and the new SBIR Assistance Program for the State of Georgia, which helps eligible companies win federal R&D grants.
- Community Policy and Research Services, which brings innovation to local and state government entities while conducting technology-based research and policy projects that help communities provide a supportive environment for business and industry. The group is best known for (1) WebFIT, which helps communities anticipate the results of land-use decisions; (2) LOCI, which assess the economic impact of development; (3) TechSmart, which helps communities with information technology; and (4) the Science, Technology and Innovation Program operated with the Georgia Tech School of Public Policy.
- The Strategic Partners Office assists companies seeking to develop Georgia Tech relationships, serving as bridge to a broad range of campus-based resources and people. It provides more strategic and comprehensive assistance to these companies that are forward-thinking and interested in innovation.
Why is the Enterprise Innovation Institute located at Georgia Tech?
As one of the nation's leading technological universities, Georgia Tech provides a depth of resources that companies and communities can tap through the Enterprise Innovation Institute. Innovations developed by Georgia Tech researchers will also be made available to industry, entrepreneurs, policy-makers and communities through the Enterprise Innovation Institute.
An example of the benefit is the Industrial Assessment Center, an energy service supported by the U.S. Department of Energy. The center is operated jointly by the Enterprise Innovation Institute and the Georgia Tech School of Mechanical Engineering. Georgia Tech professors and students work side by side with energy experts from the Enterprise Innovation Institute to provide companies with the best advice for improving the energy efficiency of industrial facilities.
How does community policy and research relate to the other parts of the Enterprise Innovation Institute?
Successful communities provide the foundation – essential infrastructure and support – that companies need to be successful. The community policy and research services division helps communities make good decisions and adopt innovative approaches to governing issues. Innovative communities make better locations for companies, so they're more competitive – and they help companies located in them be more competitive, too.
Is there an abbreviation for Enterprise Innovation Institute name?
The name was chosen because it is description of what the organization does. To create an acronym for it would lose that meaning.
What does the Enterprise Innovation Institute consider its core competencies?
The organization as a whole has three primary core competencies:
- Mentoring/Coaching: We are skilled in helping our clients understand and address their challenges and dilemmas. We assist them in transforming themselves and their organizations.
- Networking: We are skilled at identifying, convening and facilitating groups of individuals for synergistic problem-solving and opportunity development.
- Technology Enabling: We excel in moving science, technology and innovation from research to productive applications.