Innovation requires implementation, and value creation, collaboration, creativity. Community developers actively illustrated these elements during breakout sessions and engaged in innovation. They shared replicable concepts, programs, and initiatives showing accurate results.

Let us talk about the mentioned pointers in attribute a bit now:

Collaborations

There are no fewer opportunities than the initiatives intended to be collaborative. Collaboration is just one type of group activity familiar to community development. Collaboration has never been easy, mainly because conflict and competition within and among groups dominate the landscape. As we all tend to avoid tension, what we may be left within communities is peaceful (or less than friendly) coexistence, not collaboration. It may be a good time for rethinking collaboration.

Below are given some basic things to keep in mind:-

Listen and explore—What can we do together?

Learn and adjust—How will we learn together?

Focus and align—What should we do together?

Link and leverage—What will we do together?

Ideation

Innovative and creative concepts make your business stand out. Organizations must distinguish themselves to thrive in the fierce struggle for resources. The presenter for the breakout session “Accelerating Entrepreneurship and Its Impact on Community and Economic Development” was Mark Lange, executive director of the Edward Lowe Foundation. Ideation is used by the Edward Lowe Foundation to argue in favour of entrepreneurship as a method of economic growth. Lange says:

• Local businesses have much more influence on the production of jobs than companies headquartered out of the state.
• Second-stage companies are critically important to job growth and must be nurtured more effectively.
• Business expansion has a much more significant impact on job creation than business relocation.

Implementation

What good are new initiatives if they are not put to use? Companies must engage the best people to champion their ideas and keep those great ideas proceeding forward. There are no fewer conversations on how technology is changing lives and how technological innovations are being implemented at the speed of light. In the world of community development, one example is the work being done at Social Compact.

Value Creation

You haven’t innovated if your new initiatives aren’t creating value. Companies must implement the most effective ideas and programs to deliver value to stakeholders. The reason behind innovation is to create business value. Value can be defined differently, such as incremental improvements to existing products, developing new products and services, or reducing costs. Businesses seek to create value because their survival, growth, and ability to compete in a rapidly changing market depend on whether they innovate effectively.

An individual who is the inspiration for our writeup today has done quite some work related to innovation that has favored human life in one way or another and has been proved to be following all the aspects of innovation as discussed in detail above. Igor Smirnov – is an engineer, scientist, and inventor of MRET technology. His academic history in psychology and engineering has helped him become an individual who understands the value of the needs of people in society through his Ph.D. in psychology, and the background of M.S in engineering has got him to invent technology that could benefit people across the globe and for centuries would work.