Guest Speakers on Innovation, Friday September 16th

1. Gordon from Wolfson Electronics
1. don't over or under-manage creative people
2. chip manufacturing methods (capital intensive) requires getting things right the first time
3. avoid complacency 
4. 80:20 principle (80% revenue flows from 20% of the individuals, 20% of customers create 80% of revenue)
5. Wolfson uses Fabs in Asia to produce it's chips.  DSP and sound related chips are used in portable devices
2. Mike from P&G
1. connect different piece of knowledge
2. create a novel idea
3. Gavin, a lecturer and angel investor
1. 10% margin companies cannot afford to innovate
2. 30-40% margin companies can afford to
3. there is an industry specific risk of innovation (certain industries lend themselves toward innovation better than others)
4. less venture capital in Scotland (by far) than in Silicon Valley