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Innovation cont. high-growth business that will lead to new regional wealth creation in other sectors like soſtware. Innovation can take many forms and mean something different to each person you ask. For me, the definition of innovation is introducing something "new" to a market. There are two types of innovation: transformational (disruptive) and incremental (sustaining). Most innovations and profits are not from game-changing new products that disrupt a market, but rather incremental to keep something good going through improvements. During the New North Summit, our panel of experts will cover innovation around three areas: process, product and people. From your perspective, how are these three connected? Are any of these more important, or are they equally important in terms of innovation? Pietsch: Innovation requires all three aspects with people being the key. "That culture begins inside each company with each person understanding how they are making meaning for customers by coming to work each day. " Kurt Waldhuetter, president and CEO of Autrix, and Co-Founder & Co-Director of AeroInnovate Leadership sets the expectation and creates the culture in an organization. If key leadership works to foster a culture where people are allowed to be creative, explore ideas, make prototypes, practice, work hard, make mistakes, have fun and learn, then the environment is right for "new" to happen. The best innovation happens when there is a framework for innovation management in place. With the right people, a clear vision and solid framework, new products and services continually innovate, they must create a culture for innovation centered on people. That culture begins inside each company with each person understanding how they are making meaning for customers by coming to work each day. An innovative product is oſten the result of a good innovation/development process and of course the people. A collaboration will emerge. Innovation management is the link between them all. Waldhuetter: For companies to Discover what inspires YOU@ • 69 Undergraduate Majors • Graduate Degrees • E-Learning Options • Accelerated Evening Programs • Six Schools ! Attend a "Get Started" Night on January 31 at our Appleton or Green Bay Accelerated Learning Center! www.cuw.edu Mequon, WI • 888-628-9472 We grow entrepreneurs For more information please contact Amy Pietsch at Pietsch@fvtc.edu or call 920-735-2594 venturecenterwi.biz 52 NEW NORTH, INC.