Early critique of projects can help determine viability, increase potential for success

BOSTON — Being critical of a project or venture early in the innovation cycle is crucial to determining its success, according to a panel here. “Having an incubator team is really great,” K. Angela Macfarlane, president and CEO of ForSight Labs, said during a panel discussion concerning the innovation cycle at the Ophthalmology Innovation Summit. “Someone arguing for a project one day, against it the next. It forces you to look candidly at a project’s merits and how they measure up in clinic, against the competition, in the current marketplace. Take on a philosophy of ‘respectful candor’ with investors and board members. Find investors you trust and a board you can be candid with.” “And passion,” she added. “Have lots of passion. If you’re not in love with a project, it’s more likely to fail.”