Swiss PropTech Study 2021

3. Why we need the innovation in the sectors?

Innovation translates ideas or inventions into services or goods, creating value or meeting consumer demands in the process. In doing so, it yields financial benefits.

Innovation aims to take advantage of potential solutions and associated case-based facilitation to add value for business and social benefits. The key innovation models in construction and real estate are incremental, radical, autonomous, and systemic. The process from innovation to adoption moves through six cyclic steps: 1. need, 2. creation, 3. invention, 4. innovation, 5. diffusion, 6. adoption.

3.1 The reasons that prevent innovation 3.1.1 Costs 1. Cost too high 2. Too big perceived risk 3. Insufficient internal resources 4. Insufficient external funds such as venture capital, 5. Public money 3.1.2 Know-how 1. Insufficient innovation potential (R&D, design, etc.)

2. Not enough qualified staff in the company and on the labor market 3. Insufficient knowledge of the technologies 4. Insufficient knowledge of the markets 5. Insufficient availability of external services 6. Marketing 7. Organizational barriers in the company 8. Attitude of the staff to changes 9. Attitude of management to changes 10. Management structure of the company 11. Insufficient staffing of Innovation activities 3.1.3 Markets 1. Uncertainties in demand 2. innovative products 3. Dominance of the "top dogs" in the potential markets 3.1.4 Institutional factors 1. Lack of infrastructure 2. Legislation, regulations, standards, 3. Taxation 4. Legal uncertainties 5. No need for innovation 88