Prof. Barnett will discuss (a) how companies can purchase innovations, and the boundary conditions of these strategies for smaller companies (from global perspective); and (b) how companies should create value by ensuring product-market fit in case of radical innovations where markets do not exists. While purchasing of innovation is a short-term strategy that can ensure survival, continuous building of innovation capabilities is paramount for long-term company success. Such strategy implies strategic management of calculated risks that help a company learn through failure to deliver local/regional/global unicorn innovations.