Efficient innovation niches

- [Instructor] There is a concept for it called the efficient innovation niche. My colleague, Eric von Hippel, who coined it, will break it down for you. - [Eric] If you are somebody who is already kite surfing, then it's very efficient for you because you already have the skillset. You have the equipment and so on to improve innovations in that area. If you are coming in, and you don't know anything about kite surfing, you've got a great deal of learning to do before you can even start to innovate. So not only on the skillset side, where it's best if you can use your own skills as you have them, but also on the side of the practice that you're engaged in, the type of innovation you're using, it's an enormous advantage if you're already knowledgeable in and fiddling in that area. - [Instructor] Julio is now building a medical device company. It's called Airway Medical Innovations, and it has a mission to make intubation…