Throughout the years, what has motivated entrepreneurs to innovate? Where do they get their ideas from? Even though many products and services are already available on the market, many entrepreneurs are still able to attract new customers by selling products and services that target a very specific market. It’s all about creativity and change – a shift in thinking. By thinking outside the box, innovators are able to find the “Market In-Between” to operate in, and those who are able to make a mark often succeed and go on to become market leaders.
“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t really do it, they just saw something. It seemed obvious to them after a while. That’s because they were able to connect experiences they’ve had and synthesize new things.” – Steve Jobs
Participants are expected to choose a company and help them to create a new market niche that is in between two categories of existing products or services. The business idea put forward must complement the company’s existing industry, whilst having its own unique selling point, target market and positioning. Participants are required to write a thorough business plan to propose how the product or service will succeed.
Quick example outlines
- Apple’s iPad
- Apple Action News
- SNAP HK / Instant20