Innovation management and technology assessment in medical industry

Abstract

Siemens Medical Engineering has implemented the innovation management process New Business Opportunities which is based on proven concepts of Venture Capital and intrapreneural thinking. The separation of existing and new innovation processes bears a major advantage: it guarantees that basic, cross-unit and cross functional innovations have the opportunity to develop better compared to an environment of operation a day-by-day business, which is optimized in regard to productivity. Now Siemens employees, capable and committed with passion to aggressively transform bright ideas into profitable new businesses, get the chance to build high performance cross functional teams to turn emerging technologies into new products, which meet customer' needs. The concept has proven successful, several new business ideas are already in the implementation phase.