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Contact: Christine Payton April 13, 2012
(337) 482-6397, payton@louisiana.edu
 
MEPOL HOSTING 'INNOVATION JUMPSTART' EVENT TO HELP BUSINESSES GROW PROFITS
 
The Manufacturing Extension Partnership of Louisiana (MEPOL) at the University of Louisiana at Lafayette wants to help businesses grow profits with new marketing ideas.

MEPOL is hosting Innovation Jumpstart on Wednesday, April 25 from 8 a.m. to 4:30 p.m. at the Picard Center in University Research Park. The event is being held in conjunction with Innov8 Lafayette – an eight-day festival of creativity and innovation that will be held throughout Lafayette from Sunday, April 22 to Sunday April 29, which is the week leading up to and overlapping Festival International.

The goal of this innovation training is for attendees to learn about a proven 'system' that can help gain the confidence to lead innovation within their organization. It teaches the basics of a systematic approach for increasing the speed of innovation (up to 6X) and reducing risk (30 - 80%) leading to more profitable growth. Innovations might be in new customers, markets, products and services, processes and systems (production, sales, operations, sustainability, etc.). Following the Jumpstart creation process has been proven to create 10x more ideas than traditional brainstorming.

“ The Jumpstart is a fun and unique way to create ideas that reduce the fear of innovation and helps you think deeper,” explains Corinne Dupuy, director of MEPOL. “This session will teach you how to diversify your thinking and gets you on a path to ‘innovating’ meaningfully unique ideas. I promise that this session will be the most fun you will have while learning a system to grow sales and profits. The pace is quick and intended to create ideas to get you started."

Two separate Georgia Tech studies (2008 & 2010) found that innovation is THE MOST profitable primary business strategy compared to low cost, fast delivery, voice of the customer or quality strategies. In fact, the 3-year average profit margin of companies with a primary strategy of innovation is over 50% higher than for companies competing with a primary strategy of low price.

In the past Innovation was slow and risky. Today, there is a system that increases innovation speed while decreasing risk. The innovation system implementation was optimized through measurement and quality control charting of over 6,000 innovation teams at top innovation companies like Nike, Walt Disney, Proctor and Gamble, Hewlett Packard, Johnson & Johnson, College Board, Hartford Insurance, American Express and Schlumberger. They were adapted to make them reliable and reproducible for small to mid-sized companies through a four-year process of working with over 7,000 leaders of small and mid-sized companies associated with the U.S. Department of Commerce’s NIST MEP system and Eureka Ranch International.

Admission is free and registration is required. For more info, visit www.mepol.org/jumpstart or email cdupuy@louisiana.edu.

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Document last revised Friday, April 13, 2012 11:38 AM

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