Gen Z has quickly risen to be considered the most entrepreneurial generation ever. According to Forbes, approximately 62% of young adults and teens currently have plans to start their own business, a statistic that would have seemed unbelievable decades ago. The reality of the world we live in is that opportunities to make an impact through innovation and entrepreneurship are rising all around us. But what does it really mean to say yes to such a calling? While anyone can decide to start a business, it takes innovation and determination to bring that business to life in a way that not only makes a profit, but also a meaningful change.
But what exactly is innovation? This term gets tossed around a lot when talking about businesses, from revolutionary new ideas to creative problem solving, but often without really being defined. While a quick internet search will define innovation as “the act or process of introducing new ideas, devices or methods,” the heart of the idea behind this is that innovation is the implementation of ideas in new and creative ways.
Innovation in entrepreneurship begins with an original idea. To make an impact on the world, you must create something new in order to provide a service or product that the world really needs. As entrepreneurs start with an idea, it is important to ask the question “What makes this different from what already exists?” It’s often best to start with a problem that can be identified in order to create something new that solves this problem in a way that hasn’t been done before.
But listen to any entrepreneur that has “made it” and they’ll tell you the same thing: their original idea undergoes constant improvement. As times change, so do the needs of the audience for which you are trying to provide. Thus, in order to continually serve your audience the best you can, you must constantly be assessing their needs and adapting your business or product to fit those needs. This requires creativity and humility that embraces the value of new ideas and strives to constantly grow as the world we live in changes.
Entrepreneurship without innovation is just a business idea that cannot stay afloat as the tides change. Innovation is what makes an idea become something revolutionary, something that solves a problem in a way no one has ever seen before. Without innovation, a product would have no way of adapting in response to a changing world. It allows entrepreneurs to respond to the problems of the present and pave the way for a better future.
Each person has unique skills that can be used to foster innovation, and Biola is here to give entrepreneurs the opportunities and resources needed to combine skills and ideas into impactful realities. Biola’s Office of Innovation strives to come alongside those seeking to get their big ideas off the ground in order to serve the world in an innovative way.
Learn more about Biola’s Office of Innovation.
Written by Game Design major Amanda Udell and Lindsey Hayden, Operations and Marketing Coordinator for the Office of Innovation.