International Expert Says Companies Need To Create Their Own Economic Waves To Achieve Growth

March 27, 2009 - PRLog -- Companies must take a twin approach to innovation to survive and grow in the current economic climate, according to renowned technology innovation expert Professor Erkko Autio.

Professor Autio is one of the founders of the Global Entrepreneurship Monitor (GEM) initiative and Chair of Technology Transfer and Entrepreneurship at Imperial College London. He will share his expertise and insights at the inaugural InterTradeIreland Innovation Lecture at UCD. Organised by NovaUCD, this lecture takes place on Thursday April 2 at 6 pm in the William Jefferson Clinton Auditorium, UCD, Belfield, Dublin 4.

Speaking in advance of his lecture, Professor Autio said, “As the global economic momentum has faded, firms can no longer 'ride the waves' created by others. They need to build their own momentum for innovation. In addition to identifying market needs and adapting their products or services to meet those needs, firms must also find ways of prompting the market to lock-in to their innovations ahead of others. If this successful two-way adaptation is achieved, spectacular growth may follow, even in challenging times."

The lecture is being delivered as part of the InterTradeIreland All-island Innovation Programme. This Programme, a partnership between InterTradeIreland, Queen’s University Belfast, NovaUCD and the Centre for Innovation and Structural Change at NUI Galway, aims to promote and encourage innovation across the island of Ireland.

InterTradeIreland Strategy & Policy Director Aidan Gough said: “Survival and innovation go hand in hand in the current economic downturn. As markets contract businesses need to become more innovative in aligning their products and services to market needs. InterTradeIreland can provide assistance to help develop innovative cross-border partnerships between companies and third level institutes which can deliver new market solutions.”

To register to attend Professor Erkko Autio’s lecture entitled How to Build Momentum for Innovation contact miceal.whelan@ucd.ie or visit www.ucd.ie/nova/events/intertradeirelandinnovationlecture.

Attendance is open to all and the event is free to attend.

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NovaUCD is University College Dublin’s Innovation and Technology Transfer Centre. NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research and for the development of co-operation with industry and business. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx.