01801nas a2200229   4500008004100000022001400041245009200055210006900147260004200216300001000258490000600268520106000274653002201334653003601356653002601392653003001418653001701448100001701465700003001482700002301512856003601535       2013                        eng d  a1927-032100aReinventing the Wheel: Contextualizing Existing Innovations as a Path to Market Success0 aReinventing the Wheel Contextualizing Existing Innovations as a   aOttawabTalent First Networkc10/2013  a16-210 v33 aIn the quest to create cutting-edge products, organizations often invest substantial time, attention, and capital in primary research and development (R&D). By themselves, these R&D investments to create avant-garde products may not provide good return-on-investment. In the context of Canadian businesses, there is a significant scarcity of resources available for R&D. What can Canadian firms do to stay innovative when they face a plethora of difficulties, including insufficient funding? This article explores how organizations can leverage external innovation and existing technologies to create products or services that cater to the market needs. We present a three-pillar model along with examples of companies that attained market success in large part by contextualizing existing technologies in order to create innovative products or services. This approach provides companies with a high-level framework to facilitate resource-parsimonious creation of commercializable, innovative products that are competitive in today’s global marketplace.10acommercialization10acontextualization of innovation10aInnovation management10amarket-focused innovation10aorganization1 aMoretz, Jeff1 aSankaranarayanan, Karthik1 aPercival, Jennifer  uhttp://timreview.ca/article/732