HBR On LeadershipHow the Best Leaders Develop and Spend “Innovation Capital”
Dec 24, 2025 · 20 min
Nathan Furr, professor of strategy at INSEAD, researches what makes great innovative leaders, and he reveals how they develop and spend “innovation capital.” Like social or political capital, it’s a power to motivate employees, win the buy-in of stakeholders, and sell breakthrough products. Furr argues that innovation capital is something everyone can develop and grow by using something he calls i…