Technical Innovation vs Business Model Innovation - AVC

We invest in innovation; new ideas, new products, new services, and new approaches to the marketplace that result in opportunities to build new businesses. Over the years, entrepreneurs have been mostly known for technical innovations. And there are many great companies that have been built on top of technical innovations like Intel, Cisco, Oracle, Apple, and arguably Microsoft. But I wonder if business model innovation isn’t as powerful, maybe a more powerful opportunity to build a new business. If you think of Federal Express, Google, Netflix, these companies were built on business model innovations. Of course, there has to be some technical innovation around the edges, and in the case of Google, you can argue it was a combination of both technical and business model innovation that powered its rise, but nonetheless, these businesses have grown because they offered customers a new way to do something that had not been offered before. You don’t always have to invent the new business m

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• Gaurisha Dewan