The model explains why a holistic multi-disciplinary view is required to develop effective policies to facilitate the innovation system and why short planning, implementation and feedback cycles provide the best results.
A disruptive innovation allows a whole new population of consumers access to a product or service that was historically only accessible to consumers with a lot of money or skill. Once a truly disruptive product or service takes root in simple applications at the bottom of a market it can move relentlessly up market, eventually displacing established competitors.
The Product Development Journey: Our Infographic loosely follows the Stage-Gate model, which was created by Product Innovation experts Robert Cooper and Scott Edgett in the US. However, our approach adopts a more direct approach when it comes to quantifying commercial market interest for our clients - See more at: http://visual.ly