Principles of Entrepreneurship and Innovation in Medicine – Dr Sanil Rege
Dr. Sanil Rege talks about the key principles of Entrepreneurship and Innovation that have assisted him in setting up two economically sustainable businesses – Psychscene.com, Australia and New Zealand’s leading Mental Health education company and Vita Healthcare – a boutique mental health clinic in Mount Eliza on the Mornington Peninsula.
- Entrepreneurship – Process by which an Entrepreneur shifts economic resources from areas of low productivity and yield to areas of higher productivity and yield
- Innovation – An act that endows resources with a new capacity to create wealth.
- Systematic Innovation – A Systematic examination of the areas of change that offer entrepreneurial opportunities.
Principles of Innovation (Drucker)
- Analyse Opportunities
- Go out to look- to ask -to listen
- Keep its simple
- Start small
- Aim for leadership
Principles for challenging the status quo for transformation
- Disrupt the rules but know your boundaries
- Combat risk aversion (does not mean taking too many risks)
- Persevere but know when to quit