Failure in Innovation: Is There Such a Thing?

In the context of innovation failure is an interesting concept, one that has different connotations and different implications to most other contexts. Whereas in most contexts failure is something bad, to be avoided at all cost, in the context of innovation failure is considered to be not only a necessary evil but often a precondition for success. Innovators are encouraged to embrace failure and consider it to be a learning experience. This does not mean that high failure rates in innovation should be accepted nor that success rates cannot be improved. Particularly in the challenging context of the twenty-first century where innovating is a key necessity for survival we need to unearth the deeper roots of failure, one of which is fear. Even if it is often argued that there is no such thing as failure innovation, just learning, there still is failure in the context of innovation. This chapter will investigate failures in innovation (rather the of innovation) and propose some tools and approaches to remedy them.