Mind Source CEO Rui Reis was invited by NtechNews to share his vision on the challenges companies face in carrying out innovation projects.

The reflection comes in the context of a recent study released by Oracle, which indicates that more than half of the innovation projects initiated by organizations are not implemented. The report, based on responses from approximately five thousand IT decision-makers in 24 countries, highlights the difficulties many companies encounter in transforming innovative ideas into concrete initiatives with business impact.

In the interview, Rui Reis emphasizes that the current pace of technological transformation requires organizations to have a greater capacity for adaptation. Historical cases such as Nokia, which lost market leadership for failing to keep up with the evolving needs of users, demonstrate the importance of responding quickly to change.

According to the head of Mind Source, one of the main challenges in the Portuguese context is related to cultural factors. The fear of failure still limits, in many cases, experimentation and the development of new ideas within organizations. Still, a gradual evolution is observed in the business ecosystem, driven by new generations of professionals and the growth of startups and technology companies.

In addition to cultural issues, the implementation of innovation projects also depends on structural factors within organizations. Among the main obstacles identified are resistance to change, the absence of a clear implementation strategy, and a lack of alignment between innovation initiatives and market needs.

From Mind Source's perspective, the success of innovation projects depends on three fundamental pillars: fostering a culture that values ​​entrepreneurship and accepts mistakes as part of the learning process, using technology and data analysis to better understand customers, and finally, ensuring a clear and well-communicated innovation strategy throughout the organization, with the involvement of senior management.

Published in NtechNews