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 Many of you would have heard of Darwin's theory,  "Survival of the fittest". In the business world, innovation becomes a key part of this fitness. Many organizations have faltered even after being financially and influentially extremely powerful, just because they weren't innovating enough; more so when the organization is in the product space than in the service space. Many great personalities including Steve Jobs have consistently iterated that Innovation is key to survival of businesses and I cant think otherwise.

 We get to see the same concept in various facets of our life. Recently I was watching the movie "The Artist" and the main theme seemed to shout at the audience the same proven fact. The protagonist was an extremely influential and famous silent  movie artist. He attracted tremendous attention from fans, directors and press.As time progressed, there were nascent sparks of interest towards talkies. However the protagonist was adamant, still believed in silent movies and out of difference of opinion with his producers started his own silent movie production house. Meanwhile a new actress embraced the innovation of talkies and went on to become the new superstar, whereas the silent movie actor went bankrupt. As time progressed there was another innovation of introduction of dance sequence which threw simple talkies out of fashion. Thus throughout the movie they showed how innovation is essential to be in the business.

 Innovation is essential not just for survival but also to start a new business. It is a well known fact that the chances of success are higher when a business is based on an innovative concept and hence differentiating itself from the masses. Recently I came across a venture which seemed to be trying to solve the prevalant problem of affordability and effeciency of online payment gateways. Anyone who has explored options to provide online payment mechanism in their web portals would very well know that it is virtually impossible to find a reasonably economical and reliable payment gateway. I was very happy to know that some one has started a venture named "Stripe" to address this very problem. Their's being an innovative solution to this hard problem, they should do well. However, lets wait and watch the innovation theory in action.

 If you have stopped innovating of-late, it is time to crank the rusted innovation engine.