This Low-Cost, Low-Effort Growth Strategy Could Transform Your Company Into an Innovation Powerhouse

Opinions expressed by Entrepreneur contributors are their own.

As an experienced corporate executive, entrepreneur and investor, I often advise corporations about accelerating their growth. This is a common challenge for companies around the globe. These companies might be using previous-generation technology and, unfortunately, traditional Research & Development (R&D) efforts are often ineffective in developing innovative ideas. Corporations sometimes partner with universities on joint technology projects. However, such partnerships usually produce results too slowly in today’s fast-paced business environment.

I believe that the secret to accelerating corporate growth is to become more innovative. While it is possible to innovate internally, organizations attempting this fail more often than they succeed. It’s

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