The Quant Innovation Mesh is a refined scheme an evaluator, marketer, investor...can walk a quantitative innovation through.
Does the innovation matter? Who cares?
I define innovation types to understand the positioning and approaches better - the innovations's relation to the external world and its internal approaches, conventions, methods and tools.
Time, Reality and Style Types give us a global view and we make a deeper look into Structure and Matter Types to understand external and internal values and risk better…the point of view, objects of desire, world view, the controlling idea, the movement from the set-up to the solution, the payoff…in principle what it's for, how it works and what it needs. Guided by conventions, rules and recommendations…
The controlling ideas describe how the innovation meets the desires, objectives, (quantitative) requirements…From the controlling ideas we derive our key messages. If we understand the general what-and-how we can put the big takeaway into a few words.
We were working down The Quant Innovation Mesh and I gave some examples…I filled it out for UnRisk but I know, this is not enough. We will iterate it later. I used the metaphor of a thriller to explain what kind of innovations may be compelling and candidates for the classics of the future in their field…
But we shall never forget
Innovation is about change
Innovators want to change the underlying systems that are causing major problems of our lives and time…at a society, sector, institution, individual level…
To manage a change you need to know what the reaction to it is. The first reaction is usually shock and denial, in a next phase a change may even cause a depression, before the change becomes accepted and will be integrated.
To make system changes more effective, you should act as
Analyst - analyze the system you want to change (quantitatively), but not too much
Nowist - start immediately after the idea and apply explorative, experimental and evolutionary prototyping
Communicator - organize feedback cycles with potential users, partners...
Connector - if you want to change systems you need connections and alliences
Risk Manager - to recover quickly from difficulties you want to make the change antifragile (especially to optimize the market risk)Up to now, I have presented The Quant Innovation Mesh as diagnosis tool, but it can help the innovator to plan and create the innovation.
While I wrote this posts some new ideas came to my mimd. I'm sure that I can make the mesh even simpler, maybe more focused…But this needs more brooding…
If you want to (re)read The Innovation Mesh posts, here they are.