I love disruptive innovation. Disruptive innovation challenges existing companies to adapt, evolve, and improve while creating opportunities for new companies to grow and thrive. Disruptive innovation can often provide significant benefits for consumers as well creating a great win-win. 3D printing has been in existence for several years but it continues to mature and businesses are starting to find ways to directly sell products created by these printers.
A recent example is detailed in this SingularityHub article, “This 3D Printed House Goes Up in a Day for Under $10,000”. A startup company, ICON, partnered with a housing nonprofit, New Story, and together designed and developed a 650 square foot house that can be constructed in under 24 hours for less than $10,000. Their goal is to build these homes in developing countries for $4,000. Advancements like this can provide affordable housing to millions who live in much more primitive structures. While this may seem like a niche market, the technology can be leveraged for other purposes. Will this someday threaten traditional construction processes? At what point do legacy companies need to develop strategies that incorporate the potential threat posed by disruptive innovations?