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A biotech entrepreneur has recommended five techniques to create a culture of innovation.

H. Stewart Parker, who founded Targeted Genetics, firstly claimed that organisations need to be willing to work hard to start a trend for innovation.

Secondly bosses need to establish strong lines of two-way communication between themselves and their employees at every level.

Your workers may have ideas about how to improve the efficiency of your business which you may not be able to come up with.

Thirdly companies should offer incentives to employees that show positive innovative actions.

Your workforce is crucial to helping you bring about change – an added bonus for high performing staff can show other employees what you want from them.

Fourthly the big wigs at your company need to encourage partnerships between different departments, and even your suppliers and most valuable clients too.

By getting different groups to work on the joint goal of creating innovation in your company can help clients get what they want, develop a stronger level of trust between you and your supplier, inspire you to create new products, and help your company to become more efficient.

Finally Stewart Parker claimed that success should be celebrated.

A lot of ideas will be piloted but will fail on the path to innovate your company but when successful changes are made for the better make sure that your let your staff, your customers, your suppliers and even your competitors know how well you doing.