LAS VEGAS — At the core of innovation is probably realizing that failure could occur over and over and over again, Joe Batista, director and chief creatologist at Hewlett-Packard Co, told attendees today at NACUSO's annual conference.

Batista spoke on discovering, unlocking and unleashing innovation and shared several case studies on companies that are using "intellectual capital," new technologies and the rearrangement of business relationships to produce revenue. He used WD-40, the anti-metal and rust corrosion solution, as an example. The creators failed 39 times before hitting the jackpot. Hence, the "40″ in WD-40.

"What is your capacity to fail," Batista asked attendees. "Do you celebrate innovation? I am amazed that so many companies don't."

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