Leadership Article 3 Page 9

deliver on time.

“Venture capital has been a very powerful driver of innovation and has had a lot of bang for the buck. But it’s necessary to understand that while the venture model works very well in certain industries in certain places at certain times, it is not a one−size−fits−all model.” (Lerner, 2012)

Architect

According to Lerner, innovation architecture implies that the solution to successful private R&D funding lies in marrying the best of both worlds. “If you combine the scale and resources of the corporate lab with some of the intensity and urgency associated with the venture capital model, you have something that can be very, very strong.” (Lerner, 2012)