The Lost Potential of Unfinished Innovation: Lessons for the Fashion Industry

In the fast-paced world of the fashion industry, innovation is often chased with great enthusiasm- I know this because I have seen it with my own eyes. However, countless projects have been abandoned prematurely, leaving behind what I refer to as "corpses" of research.

In my opinion some of these "corpses" of research had the potential to become revolutionary ideas, but unfortunately they never had the chance to fully mature. Having witness this phenomenon first hand has led to me wondering : Could these unfinished projects have contributed significantly to the industry if given more time? Is investing in innovation with an anticipated end date inherently wasteful? How can the fashion industry be encouraged to commit to long-term innovation?

The Cost of Short-Term Innovation Vs The Need for Long-Term Commitment

Investing in innovation with a predefined expiration can be inherently risky and potentially wasteful- in my opinion. The lack of commitment of seeing the project through the inevitable challenges and developmental hurdles seems to be a trend among investors. The end result is that it has led to a cycle of unfulfilled potential where projects are discarded before they can prove their worth or adapt to emerging challenges.

The path should always start with first understanding that innovation often requires a long-term commitment. This is crucial, because impact can take years to manifest. Also tangible results do not have a time stamp- patience and belief is key.

This is why is important for the fashion industry to understand that just initiating projects is not enough, they need to also nurture them through difficulties and iterations. For example as most business make a strategic shift towards sustainability and technological advancements, they should first understand that making that change would involve extensive research and development that cannot be truncated without compromising potential breakthroughs.

Successful Long-Term Innovations in Other Industries

If one is looking for examples of businesses that didn’t just walk the walk but also talked the talk, I would look to other industries. This is because they provide compelling examples of long-term commitments to innovation that initially faced obstacles but ultimately led to significant breakthroughs:

1. Electric Vehicles (EVs) - The automotive industry's journey with electric vehicles highlights perseverance. Early prototypes and business models faced technological limitations and market resistance. Companies like Tesla continued to invest in refining battery technology and production capabilities, despite initial losses and scepticism. Today, EVs are at the forefront of automotive technology, driving forward on commitments made decades ago.

2. Space Exploration - Space ventures, particularly those led by companies like SpaceX, have demonstrated the fruits of long-term investment and risk-taking. The development of reusable rocket technology, for instance, endured multiple failures before achieving successful launches and landings, revolutionizing cost structures for space travel and satellite deployment.

3. Pharmaceuticals - Drug development is inherently a high-risk field, with long periods of testing and regulatory reviews. Medications like SSRIs (selective serotonin reuptake inhibitors) transformed mental health treatment, despite initial controversies and setbacks during their development. The commitment to refining these drugs has made them some of the most widely used and effective treatments available.

Lessons for the Fashion Industry

So what key lessons could you take away from these examples?

- Patience Pays Off - Innovations like sustainable materials, digital fitting technologies, or supply chain automation need time to evolve from concept to market-ready solutions.

- Risk Management - Diversifying innovation projects can spread risk and allow for learning from a broader base of experimental outcomes.

- Community and Collaboration - Engaging with a community of stakeholders, including consumers, researchers, and environmental groups, can provide support and insights necessary for long-term success.

Conclusion

For the fashion industry to fully harness the power of innovation, a shift in mindset is required. We as an industry need to move towards a model that values sustainable and long-term investment in new technologies and practices. By committing to innovation beyond the immediate horizon, the fashion industry can ensure it remains competitive and sustainable, turning potential "corpses" of research into the cornerstones of future success.