Innovation-for-Impact: A Value-creation Program to Improve the Impact of NSF's R&D and Commercialization Initiatives

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Although high-value innovations offer the potential to increase economic growth and sustainability in the United States and beyond, recent years have shown disappointing numbers in the transformation of research and development (R&D) into legitimate commercially viable products and value to society. Even in established companies, 80% of new products and innovations fail within one year. Numerous company studies show that less than 20% of their most important R&D initiatives could bring value for the enterprise. More realistically, only 2-5% could provide significant value. This high failure rate can be attributed to a deficit in the following: (1) customer and market focus; (2) innovation and value-creation skills; and (3) use of effective value-creation processes. This project hypothesizes that an emphasis on the skills and processes employed during the initial stages of the innovation process is necessary to create successful and sustainable R&D innovations. By improving the initial stages of the innovation process, contributions to the science, engineering, and education ecosystems can be expected to increase, and thereby, positively impact the quality and sustainability of both R&D and societal value of the products so created. Addressing the aforementioned challenges facing today's R&D innovators, and acknowledging the value of intensive collaboration, the project team will host two Value-Creation Playbook workshops for the NSF Division of Engineering Education and Centers (EEC), specifically its Engineering Research Center (ERC) Program. The Value-Creation Playbook is an immersive, hands-on program that satisfies the fundamental requirements for success in innovation. The design of the workshop is based on the principle that in order to innovate effectively, professionals must (1) have shared value-creation concepts and language; (2) develop fundamental frameworks for collecting essential knowledge; and (3) be able to rapidly create new value using best learning practices, such as continuous, unrelenting team iteration. Workshop delivery focuses not only on increase in participants' knowledge and awareness, but also on long-term sustainable impact on participants' attitudes and behaviors. It is expected that, as a result of these workshops, ERC teams will (1) clarify their projects' goals, objectives, and milestones; (2) strengthen their R&D and commercialization efforts; (3) better understand the core language, skills, and intellectual frameworks required for efficient value creation, with an emphasis on aggressive iteration and collaboration; and (4) be able to better align their team's direction and purpose, both individually and with the overall NSF ERC program. It is intended that these processes and skills will be employed continuously by NSF ERC teams as they move forward with their program initiatives, and their individual careers in the engineering ecosystem.