Ep. 31 (Rebroadcast): Don’t confuse invention and innovation. A conversation with John Ruffolo.

In this episode, I interview John Ruffolo former Chief Executive Officer of OMERS Ventures. We explore how many of the entrepreneurs they invest in have a passion for solving a problem. He tells the story of Shopify. One of Canada’s great entrepreneurial stories. John and his team look for founders who care deeply about the problem to be solved. He explains that there is a confusion between invention and innovation. For John, he doesn’t see a lot of new invention, but rather interesting applications of technology in particular industries. When entrepreneurs are able to combine implementation and the idea, they can generate innovation.

John describes his work as providing the fuel for the rocket, while entrepreneurs work to build their ventures. In this interview, we share many insights from John and his years of experience advising some of the world’s most innovative companies. John and his team are on the search for the most disruptive companies.

This podcast was recorded over Skype. Both speakers were in different locations.