Inspiration to drive innovation…
Summer 2009 is almost upon us and the prognosis about our world’s economic future from both soothsayers and economist is - stay patient, tighten your belt one more notch and keep on thinking long-term. So where to go for inspiration and courage in these trying times? My mind quickly turned back to the magazine Fast Company’s March 2009 list of the World’s Most Innovative Companies…”that will re-define our future and point the way for a better tomorrow.” These are organizations that are already successfully capitalizing on innovative ideas even in our tough economic times.
Fast Magazine in their March article focuses on 50 organizations in eight market segments. Since healthcare reform is a top U.S. priority these days, I started with the five organizations listed in the medical segment for inspirational ideas. And there clearly was a common theme binding these organizations together. It was the tried and true belief of focusing on “what is important for the common good can be good for business.”
These organizations are from all over the world with private and not-for-profit structures - founded less than 10 years and over 100 years ago. Most of them have visionary founders, but one is a traditional commodity-based business that recently revitalized its vision with a focus on sustainability. They define their market niches as finding answers for what were once thought of as un-solvable and life-threatening health problems in underserved markets. The key is that they figured out a way to do it effectively and profitably. Highlighted below are the five organizations and their market niches.
- DSM, Heerlen, Holland
- improving nutrition in emerging economies
- Gilead Sciences, Foster City, CA, USA
- focusing on life-threatening diseases, such as HIV
- Aravind Eye Care System, Madurai, India
- eliminating needless blindness
- Genzyme, Cambridge, MA, USA
- treating rate genetic disorders
And lastly, a company that fills the niche of partnering with other companies in shortening the cycle and cost of developing drugs and medical devices
- WuXi PharmaTech, Shanghai, China
- providing R&D outsourcing services
Dr. Ge Li is the founder of WuXi PharmaTech and is a Chinese-American who moved to China to start his company. He offered the following thoughts when he was honored in 2007 as one of China’s top ten entrepreneurs. He gave me some needed inspiration and courage.
I hope more people can realize their dreams and create value for their customers, employees and society.
