Caught Up in Red Tape

"Innovation is a complex process and is at least somewhat unstructured which does not work well in the highly structured large companies."

"Most medical companies have systems in place to evaluate new ideas. I've worked at 3M Medtronic, and Heartware. Small companies have nothing to lose with an innovative product. Success breeds no risk taking."

"Innovation activities, whether development of new technologies or creation of internal startups, need to report directly to an executive such as the CEO who can take risk--and these activities rarely do. They need to operate outside of the typical multi-level control structure and provide the participants appropriate incentives (frequently financial, almost always recognition, and usually operating freedom)."

"More staff, more people in the management team, more power plays."

"Bigger companies tend to have more procedures and policies than small companies."

"Internal support groups such as legal, purchasing, engineer that typically have no sense of urgency and are risk averse."

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[Image by Lilly_M - Own work(dzi?ki wspó?pracy ze szko?? fotograficzn? - Fotoedukacja /in cooperation with the school of photography - Fotoedukacja), CC BY-SA 3.0]