Article Missed The Mark
To the Editor,
I would like to clarify some remarks attributed to me in âThe End of Innovationâ, May 26, 2008.
The article was based on a presentation I made at the 3rd Annual Biotechnology and Bioengineering Corporate forum, hosted by Worcester Polytechnic Institute (WPI). The topic of my discussion was how innovation at large companies such as Boston Scientific can be achieved successfully through a combination of internal and external efforts, and identified some âwatch-outsâ from an industry perspective.
While the article focused on a few specific points, my presentation actually addressed a broad range of issues, including internal R&D successes at our company, in addition to the opportunities that working with and acquiring smaller companies can provide a large organization like Boston Scientific. In fact, the sales growth for Boston Scientific quoted in the article was driven by internal innovation as well as acquisition.
I believe that innovation is alive and well and exists in both forms - internally driven R&D programs as well as alliances with academic institutions, incubators and start-ups. Boston Scientific is the broad, diverse and successful company it is today precisely because it has achieved this internal/external balance. n
Ray Knox
Boston Scientific
WBJ Web Partners
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