Leadership Article 3 Page 3

to the future. Think of Polaroid and Kodak for example.

“Insanity is doing the same thing over and over again and expecting different results.”

Start−ups are the polar opposite. They’re purely focused on innovation despite being beholden and battered by VC impatience, which accelerates boom−and−bust cycles faster than any economic event.

So, what is the solution to these inherent problems in corporate funding?

Josh Lerner, from Harvard Business School, believes the key to success may lie in a hybrid model. A model that merges elements of the corporate research labs and Start−ups.

“When you look carefully at the nature of corporate labs and venture capital−backed