12 rules for innovation, according to Innovation Festival Speakers

Innovation is a widely discussed topic, often used in business communications and marketing. However, distinguishing authentic breakthroughs from mere rhetoric remains challenging. Ahead of the 12th annual Innovation Festival organized by Fast Company, 12 speakers shared their perspectives on what innovation means to them, their top rule for fostering innovation, and what attendees can expect from their sessions.

Martha Stewart, an entrepreneur, and author, believes that innovation should simplify life rather than complicate it. According to her, technology should make knowledge more accessible and useful without replacing human judgment and experience. Lakota values taught by Sean Sherman, the founder and CEO of NATIFS and the Sioux Chef, emphasize considering seven generations ahead when developing sustainable solutions. For him, genuine innovation doesn't just follow trends but provides lasting benefits for future generations.

Lindsay Shumlas, CEO of Cotopaxi, emphasizes the importance of deeply understanding the consumer and turning insights into meaningful actions to create real consumer value. Bjørn Gulden, CEO of Adidas, highlights that innovation at Adidas starts with their athletes and consumers, ensuring that the company delivers the best products possible.

Jake Bullock, CEO of Cann, advocates for designing for an "N of 1," meaning creating unique products that stand out and inspire enthusiasm. Melis del Rey, CEO and Board Director of Supergoop, cautions against falling in love with a solution before fully understanding the problem. She stresses that the most effective innovations address genuine consumer needs and concerns intuitively.

Bob the Drag Queen encourages embracing failure and discourages perfectionism, arguing that it can hinder innovation. Brooke Ellis, Chief Design Officer at Block, advocates for protecting the creative process, emphasizing the importance of curiosity, imagination, and human connections in driving innovation.

Russell Wilson, a Super Bowl Champion, analyst, entrepreneur, and philanthropist, urges attendees to adopt a 'Why not you?' attitude and remain committed to their vision. He believes that innovation often comes from ideas others may not immediately grasp. Elizabeth Banks, co-owner and chief creative officer of Archer Roose Wines, reminds the audience that innovation requires staying curious, listening to customers, and being willing to evolve.

Finally, Dave Ritterbush, CEO of Califia Farms, stresses the need for rapid innovation in today's fast-paced world where consumer trends can shift quickly due to the rapid dissemination of information. Lastly, Nadya Okamoto, co-founder and chief marketing officer of Pie, highlights the significance of genuine partnerships between creators, as such relationships tend to outperform those focused solely on reach.