{"id":25507,"date":"2021-02-19T13:00:55","date_gmt":"2021-02-19T13:00:55","guid":{"rendered":"https:\/\/www.elixirr.com\/?p=25507"},"modified":"2025-10-31T11:04:08","modified_gmt":"2025-10-31T11:04:08","slug":"crisis-breeds-innovation","status":"publish","type":"post","link":"https:\/\/www.elixirr.com\/en-us\/crisis-breeds-innovation\/","title":{"rendered":"Crisis breeds innovation"},"content":{"rendered":"\n<p>It\u2019s difficult to shed a positive light on the pandemic. Lives lost, economies struggling, people separated from their loved ones\u2026 and questionable national leadership. However, the pandemic has provided extraordinary examples of people\u2019s ability to innovate under pressure.&nbsp;<\/p>\n\n\n\n<p>The most obvious\u00a0<a href=\"https:\/\/www.ft.com\/content\/657b123a-78ba-4fba-b18e-23c07e313331\" target=\"_blank\" rel=\"noreferrer noopener\">example<\/a>\u00a0is the development of vaccines. The world\u2019s largest vaccine makers, GlaxoSmithKline, Merck, and Sanofi, all failed to produce a viable COVID-19 vaccine and were instead beaten to the punch by Moderna and BioNTech, both of which are startups. Why? Moderna and BioNTech eagerly and confidently pursued revolutionary mRNA technology. By contrast, the larger, more established pharmaceutical companies wanted to stick to their tried and tested methods, with the CEO of Merck stating that the notion of producing a vaccine in 12-18 months was \u201cvery aggressive\u201d. Yet Moderna and BioNTech did just that through ruthless innovation. mRNA is now set to be the future of vaccine technology. How will the newfound speed with which we can create, approve, and produce a vaccine affect the future of medicine? What does this mean for the treatment and cure of other dreadful diseases?<\/p>\n\n\n\n<p><a href=\"https:\/\/x.com\/intent\/post?url=&amp;via=TheElixirr&amp;text=%27Catastrophes%20like%20COVID-19%20show%20us%20that%20it%E2%80%99s%20often%20urgency%20and%20%E2%80%98survive%20or%20die%E2%80%99%20that%20gets%20things%20done%3B%20the%20innovations%20developed%20in%20the%20last%20year%20will%20prove%20to%20be%20game-changers%20in%20the%20future.%27%20https%3A%2F%2Fwww.elixirr.com%2F%3Fp%3D25507%20via%20%40TheElixirr\"><strong>Catastrophes like COVID-19 show us that it&#8217;s often urgency and &#8216;survive or die&#8217; that gets things done; the innovations developed in the last year will prove to be the game-changers in the future.<\/strong><\/a><br><br>There are plenty everyday examples from the past year of how COVID-19 has provided fertile ground for rapid innovation and change. More flexible working has been a notion for years, and yet it took the necessity of COVID-19 to turn it into a reality for organizations which had never had to embrace working remotely. In Michigan,\u00a0<a href=\"https:\/\/sloanreview.mit.edu\/article\/what-a-crisis-teaches-us-about-innovation\/?og=Home+Editors+Picks\" target=\"_blank\" rel=\"noreferrer noopener\">ER teams rigged ventilators<\/a>\u00a0with a second tube, allowing one machine to ventilate two patients at a time. A 31-year-old software engineer, upon realizing how difficult vaccine-booking systems were in New York when trying to book an appointment for his mother<a href=\"https:\/\/www.nytimes.com\/2021\/02\/09\/nyregion\/vaccine-website-appointment-nyc.html\" target=\"_blank\" rel=\"noreferrer noopener\">, developed a new comprehensive system<\/a>\u00a0called TurboVax in just two weeks at a cost of $50, that is completely free for the general public to use.<\/p>\n\n\n\n<p>In many ways this landscape of invention shouldn\u2019t come as a surprise. In the&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/chiefexecutive.net\/crisis-breeds-innovation-how-to-embrace-change-right-now\/\" target=\"_blank\">aftermath of the 2008-9 financial crisis<\/a>&nbsp;the gig economy emerged, catering to people looking to use their static resources to make money and leaving us with Uber and Airbnb. Post-9\/11, there was a rapid and radical overhaul of the way we design public spaces and huge advances in security technology. Crisis breeds innovation.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Those businesses that remained committed to innovating\u00a0during the 2008-09 financial crisis emerged stronger, on average outperforming competitors by more than 30%.<\/p>\n<\/blockquote>\n\n\n\n<p>The question is how can we encourage businesses that are currently struggling under the economic pressure of COVID-19 to be bold? It\u2019s essential for survival. Those businesses that remained&nbsp;<a href=\"https:\/\/www.mckinsey.com\/business-functions\/strategy-and-corporate-finance\/our-insights\/innovation-in-a-crisis-why-it-is-more-critical-than-ever\" target=\"_blank\" rel=\"noreferrer noopener\">committed to innovating<\/a> during the financial crisis emerged stronger, on average outperforming competitors by more than 30% and continuing to deliver innovation in the following 3-5 years. McKinsey published a&nbsp;<a href=\"https:\/\/www.mckinsey.com\/business-functions\/strategy-and-corporate-finance\/our-insights\/innovation-in-a-crisis-why-it-is-more-critical-than-ever\" target=\"_blank\" rel=\"noreferrer noopener\">survey<\/a>&nbsp;in June 2020; of 200 organizations across various industries, more than 90% of executives said they believed that the pandemic will change the way they conduct business for the next 5 years. However, only 21% said that they had the ability to actually pursue growth. Many businesses are currently just focusing on survival at a time when blue-sky thinking is the real lifeline.<\/p>\n\n\n\n<p>Elon Musk&nbsp;<a href=\"https:\/\/www.inc.com\/alyssa-satara\/in-2-sentences-elon-musk-explains-why-key-to-success-is-failure.html#:~:text=If%20things%20are%20not%20failing,concept%20for%20entrepreneurs%20to%20understand.\">s<\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.inc.com\/alyssa-satara\/in-2-sentences-elon-musk-explains-why-key-to-success-is-failure.html#:~:text=If%20things%20are%20not%20failing,concept%20for%20entrepreneurs%20to%20understand.\" target=\"_blank\">a<\/a><a href=\"https:\/\/www.inc.com\/alyssa-satara\/in-2-sentences-elon-musk-explains-why-key-to-success-is-failure.html#:~:text=If%20things%20are%20not%20failing,concept%20for%20entrepreneurs%20to%20understand.\">id<\/a>&nbsp;that \u201cif you\u2019re not failing you\u2019re not innovating\u201d. COVID-19 has separated the play-safe from the innovators, of which the vaccine story is the prime example. The innovation we have seen during the pandemic should provide us with hope, as it shows us what enormous problems humans and businesses are capable of solving in stressful circumstances. What questions are we currently sitting on that pressure will provide the answer to? One example could be climate change, the solutions for which are often presented as simultaneously essential and unachievable. Catastrophes like COVID-19 show us that it\u2019s often urgency and \u2018survive or die\u2019 that gets things done; the innovations developed in the last year will prove to be game-changers in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s difficult to shed a positive light on the pandemic. Lives lost, economies struggling, people separated from their loved ones\u2026 and questionable national leadership. However, the pandemic has provided extraordinary&hellip;<\/p>\n","protected":false},"author":1,"featured_media":25523,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[116],"tags":[131,130,201,157,102,146],"related_service":[],"related_industry":[44],"class_list":["post-25507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-msh","tag-business-growth","tag-business-transformation","tag-covid-19","tag-innovation","tag-leadership"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crisis breeds innovation - Elixirr - USA<\/title>\n<meta name=\"description\" content=\"The pandemic has reaped multiple examples of extraordinary innovation. 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Lives lost, economies struggling, people separated from their loved ones\u2026 and questionable national leadership. However, the pandemic has provided extraordinary&hellip;                <\/div>\n                                                    <div class=\"wp-component-card__meta\">\n                                            <p class=\"wp-component-card__date\">\n                            19 February 2021                        <\/p>\n                                                                <div class=\"wp-component-card__terms\">\n                                                                                                                                                    <div class=\"wp-component-tags edwp-component\">\n                        <div class=\"wp-component-tags__tag\">\n                Healthcare &amp; Pharmaceuticals            <\/div>\n                <\/div>\n                        <\/div>\n                                    <\/div>\n                                                    <div class=\"wp-component-card__button-wrapper\">\n                    <button class=\"btn btn--link arrow wp-component-card__button\">\n                                                                            Read more                                                                            <span class='edwp-svg '><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<g id=\"Lg\">\n<path id=\"Vector\" d=\"M1.12509 9.50162H15.8648L9.43259 3.06941C9.374 3.0113 9.3275 2.94216 9.29576 2.86599C9.26403 2.78981 9.24769 2.70811 9.24769 2.62559C9.24769 2.54307 9.26403 2.46137 9.29576 2.38519C9.3275 2.30902 9.374 2.23988 9.43259 2.18177C9.54971 2.06535 9.70814 2 9.87328 2C10.0384 2 10.1969 2.06535 10.314 2.18177L17.8151 9.6829C17.8737 9.74101 17.9202 9.81014 17.9519 9.88632C17.9837 9.96249 18 10.0442 18 10.1267C18 10.2092 17.9837 10.2909 17.9519 10.3671C17.9202 10.4433 17.8737 10.5124 17.8151 10.5705L10.314 18.0717C10.1975 18.1871 10.0404 18.2522 9.87641 18.2529C9.79414 18.2534 9.71259 18.2376 9.63643 18.2065C9.56027 18.1754 9.491 18.1296 9.43259 18.0717C9.374 18.0135 9.3275 17.9444 9.29576 17.8682C9.26403 17.7921 9.24769 17.7104 9.24769 17.6278C9.24769 17.5453 9.26403 17.4636 9.29576 17.3874C9.3275 17.3113 9.374 17.2421 9.43259 17.184L15.8711 10.7518H1.12509C0.959309 10.7518 0.800312 10.686 0.683084 10.5687C0.565857 10.4515 0.5 10.2925 0.5 10.1267C0.5 9.96093 0.565857 9.80193 0.683084 9.68471C0.800312 9.56748 0.959309 9.50162 1.12509 9.50162Z\" fill=\"#1D0F25\"\/>\n<\/g>\n<\/svg>\n<\/span>                                            <\/button>\n                <\/div>\n                                            <\/div>\n<\/article>\n","_links":{"self":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/25507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/comments?post=25507"}],"version-history":[{"count":7,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/25507\/revisions"}],"predecessor-version":[{"id":58556,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/25507\/revisions\/58556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/media\/25523"}],"wp:attachment":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/media?parent=25507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/categories?post=25507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/tags?post=25507"},{"taxonomy":"related_service","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/related_service?post=25507"},{"taxonomy":"related_industry","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/related_industry?post=25507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}