Podcast: S1E4 Delivering Innovation - Shai-Vyakarnam
What separates an innovation that creates genuine value from one that never makes it beyond a promising idea?
In this episode of Delivering Innovation, Andy Wilkins and Ian Stromsmoe speak with entrepreneurship and innovation expert Shai Vyakarnam about the journey from invention to adoption. Shai introduces the Triple Chasm model, explaining the distinct challenges of proving that an idea works, building a viable business around it, and eventually taking it into the mainstream market.
But delivering innovation is not only a question of products, funding or commercial strategy. Shai asks a more fundamental question: who are we innovating for? From plastic waste and affordable healthcare to AI and industrial technology, he argues that innovators must look beyond the immediate product, understand the wider system and find the people whose problems they can genuinely solve.
The conversation also explores why technical expertise alone is rarely enough. Innovators must translate complex ideas into language customers understand, involve users before polishing a solution in isolation, and bring together teams with the passion, integrity and social skills required to turn an ambitious vision into reality.
This episode challenges the idea that innovation is simply about creating something new. Shai shows that the harder work lies in:
Finding a real problem and the right customer.
Translating technical capability into meaningful value.
Navigating the different stages between invention and mainstream adoption.
Understanding the wider market, regulatory and social systems surrounding an idea.
Building a team whose shared purpose is stronger than its individual egos.
The discussion combines practical innovation models with a bigger philosophical question: are we innovating to produce more things, or to solve problems that genuinely matter?
Listen to discover why you cannot move faster than the market, why talking about an idea can make it stronger, and why the success or failure of innovation so often comes down to the people behind it.
Episode Highlights:
1. Innovation must create an impact beyond profit (5:12 - 6:17)
Shai defines innovation as a route towards meaningful impact in society. He discusses the possibility of “doing well by doing good” and asks how innovation can address challenges such as poverty, health and climate change.
Key idea: Innovation should begin with purpose, not merely financial opportunity.
2. “Why are we innovating, and for whom?” (6:42 - 10:43)
Shai challenges the shareholder-first model of business and contrasts profit maximisation with deploying resources towards worthwhile opportunities. He asks whether society is innovating to create the next luxury product or to address its most serious problems.
Standout line: “Not just how do we innovate—why are we innovating, and for whom?”
3. Camels, tigers and the mythology of unicorns (11:26 - 13:45)
Shai explains the metaphors behind Camels, Tigers and Unicorns: Camels prepare carefully for a long and difficult journey. Tigers continually hunt for the next source of funding. Unicorns can represent unrealistic valuations and the mythology surrounding Silicon Valley success. This section questions whether rapid valuation growth should really be treated as the ultimate measure of innovation.
4. The three chasms between an idea and a mainstream business (11:26 - 13:45)
Shai introduces the Triple Chasm model and explains the three major transitions an innovation must make: Proving the product works with real customers. Turning the product into a viable and properly resourced business. Scaling into the mainstream market. He also explains the roles played by prototype, charter and mainstream customers at each stage.
Key insight: A working invention is not the same thing as a viable business, and a viable business is not yet a scalable one.
5. Finding the customer may be the first real innovation (21:08 - 28:12)
Using examples from healthcare, agriculture and industrial corrosion detection, Shai explains why innovators must take a “helicopter view” of the market. The person who uses a product, experiences the problem, approves the purchase and holds the budget may all be different people. Understanding that wider value chain is essential to finding the real customer.
Standout line: “Finding that is a massively creative task—and lots of detailed homework needs to be done.”
6. Technology is not enough: innovation requires translation (32:30 - 37:44)
Through the example of converting plastic waste into reusable material, Shai shows why technically impressive solutions can fail to gain traction. Customers do not necessarily care about the engineering process. They care about whether it solves their problem, reduces their costs or creates another recognisable form of value. Innovators must therefore translate technical expertise into the language of the user, buyer and wider market.
Key insight: The value proposition is not merely promotional language. It is the bridge between an innovation and the people who need it.
7. The difference between projects that succeed and those that fail (43:00 - 45:41)
Asked to compare successful and unsuccessful innovation projects, Shai does not begin with funding, products or market demand. He begins with people.
Successful teams combine:
A compelling shared vision.
The ability to convert that vision into operational detail.
The social skills to bring others with them.
The necessary range of knowledge and capabilities.
Ethical values, integrity and shared commitment.
Projects fail when ego overtakes the purpose and team members begin treating one another without respect.
Standout line: “Where it all goes pear-shaped is where the ego of members of the team simply overtops the vision and the values.”
8. Why ideas should be discussed before they are perfected (47:28 - 49:00)
Shai argues strongly for talking ideas through with others rather than developing them alone. Early conversation generates feedback, exposes incorrect assumptions and creates collective momentum behind the idea.
Standout line: “You might be polishing the wrong product, or the wrong idea.”
9. The best innovators use both the head and the heart (48:48 - 50:30)
Drawing on his research into the innovative brain, Shai explains why entrepreneurs must combine intuition and imagination with rational judgement. Following the heart alone can lead to reckless decisions. Relying only on rational analysis can prevent action altogether. Effective innovation requires both.
Credits:
Guest: Shai-Vyakarnam
Host: Andy Wilkins
Co-Host & Producer: Ian Stromsmoe
In collaboration with Bayes Business School London, UK
