Domenico Ventura, speaker at Innovation Summit 2015, scheduled to take place on 26th May in Bucharest, strongly emphasis that for any business to grow it needs to innovate. He has previously held the position of Global Head of Consumer Sensory Innovation - Tobacco Vaporisers for BAT and has worked on streamlining the company processes for innovation and ensuring innovation is at the core of its activity.

Question: How did you start your career in innovation? Have you always been an innovator?

Domenico Ventura: Professionally I’ve started to work in Marketing Innovation in 2006 for British American Tobacco. Previously I have always liked the creative side of my Brand marketing activity both in Mars and in BAT… I think I became gradually what I have always loved with passion.

Q: How do you define Innovation?

D.V.: A new Product or Service that create the following consumer reaction: WOW!

There are many definitions of innovation. The most common could be found in Innovation books is: an idea for a new product or service which satisfies consumer needs, met and unmet, better than any other existing offers.

I’d like to think about short statement to define innovation. One of my favorite is “Innovation = from idea to invoice”.

But I still believe that my Innovation equation is also quite thought provoking: Love + Passion + Energy + Belief = Innovation

Q: What is the most important piece of innovation you have developed during your career?

D.V.: Contributed to development: Mars miniatures now called Celebrations

Developed from scratch: BAT – super slim King Size category (Kent Nanotech): Mars – Whiskas and Pedigree in pouch (fresh packaging)

Q: When you developed your first piece of innovation, where did you look for inspiration?

D.V.: Everywhere. People say that there are no new ideas only improvement of old ones. I’m a curious observer and I like to identify consumer insights and unmet needs to generate new ideas.

Q: When it comes to embracing innovation, what do you think causes some companies to feel more of a sense of urgency?

D.V.: The acknowledgement that the only way up is to innovate. The alternative is to cash in the profit and eventually sell (or close down).

Q.: What are the biggest obstacles to innovation?

D.V.:

• Black Hatters – people who are always negative to new solution
• Unwillingness to share and collaborate. There is no Innovation developed and delivered by one single person. Great Innovations require a multifunctional and multi skilled team effort.
• Big corporate layers and structures: it is difficult to innovate if you have to have to report to your boss, the boss of your boss, a management board for any progress or issue you find during the innovation process. Start-ups are very good at this because your decision making is quick as only few individuals are involved.
• Micro management and Lack of leadership (but these are obstacles to everything, not just innovation!)

Q.: When do you think it is “the right moment” to innovate a new product?

D.V.: Now! Your competitor or new entrepreneurs are already working on it!

Domenico Ventura is a speaker at Innovation Summit and together with the other international experts on Innovation will share with the 300 C-level participants their know-how through a great mix of theoretical sessions, case-studies and practical exercises.

This is the last day to book tickets at Early Bird Prices, limited tickets available.

The event partner is CEZ Vanzare .

Innovation Summit is a concept event of Universum Events, company built around the concept of event architecture. Universum Events is also the organizer of “Brand Managers Summit” and “Internet & Mobile World”.

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