Earlier this fall, we stumbled across a great example of a strategy to foster breakthrough innovation at the University of Waterloo: "VeloCity.” It’s a new residence on campus reserved for students seeking to turn a great technology idea into the next corporate behemoth. The objective of VeloCity is to promote a unique mix of collaboration and friendly competition among the “best and brightest” students to kick-start unique business technologies. It’s a perfect illustration of the power of clustering for creativity, but the concept can also be used as a model in many business situations. If you want to induce certain behaviors in the workplace, give the best existing example of your objective a high profile position, location or incentive. Soon, everyone in the organization will be striving to emulate it.
For more business tips from Robert and Graciela Walker, partners in Giff Holdings Limited, email genovese-walker@sympatico.ca.
