Difference between Research and Innovation

OCR. from http://weibo.com/flyinglichen

What is the major difference between doing research and set up a startup?
Research: money to knowledge-> burn money on knowledge
Innovation: knowledge to money-> make benefit for company as soon as possible

The two Should be separated and distinguished!!!

2 category of innovations:
Disruptive innovation: usually done by startup, who has desire to survive.
Improve current products: big companies

2 kinds of products:
Antibody product-> you have to buy, e.g. something evolutional that dwarf all other peers. This is what a startup should focus on.
Vitamin product-> its helpful, but not necessary.

Startups could begin at a very low position in market. but should increase its share in a log rate.

Always need best people from all area, marketing, sales, etc. Engineering guys can not do everything. Actually they are not good at most of "things"...
Market driven instead of technology driven: Never start with certain tech and try to find a place to sell Should start from customer needs and look backward in technology to see how we can satisfy.

Big company lab always just compete with university and this make no sense. They are too slow.
Experienced VC company helps. Money are not all same. Money from good VC are not simply money; they can help a lot in the infancy state of the company.

What student should prepare?
CS guys are trained to be critical (the point they can do their own research). They tend to ignore bright side.
But to do a startup, you need to influence other positively. Keep open mind.