Hugh Molotsi

I had the pleasure of attending this year's Hult Prize dinner at the Clinton Global Initiative in New York City.  This year's challenge to students around the world was Healthcare: Non-communicable Disease in the Urban Slum. Students from over 150 schools competed and this year's winner was Nanohealth from the Indian School of Business who received $1,000,000 to fund their social enterprise. Below are some photos from the event. President Clinton announces the winning team. Some of the winning Nanotech team. The panel of judges (L-R): Hitendra Patel (moderator), Sanjay Gupta, Fadi Ghandour, Ashish Thakker, Muhammad Yunus and Kathleen Rogers (not pictured). Yours truly with Saul Minkoff (last year's finalist from the Pulse team) and Hult professor Michael Grandinetti. A pleasant surprise to run into René Carayol .

The article " Innovation: Failure is an Option " was first published on Intuit Labs . The road to innovation is paved with failure. And that’s just fine. Just ask Hugh Molotsi, who received Intuit’s first Founders Innovation Award in 2011, in part for creating and launching a business that allowed storeowners and others to accept credit card payments and link it to their QuickBooks program. But he’s also racked up his share of failure along the way. “Failure comes with the territory” says Molotsi, a serial innovator who is also vice president of the Intuit Labs Incubator. “You’re going to have to fall down and scrape your knees a few times. You learn more from your failures than your successes. And if you call it an experiment, you can’t fail.” For small business owners who may be struggling to pay the rent and meet payroll, innovation may seem too intimidating to attempt. And many are reluctant because they confuse innovation with invention. While invention ...