Who We Are


Ralph Colello

Founding Partner, BIC

Business Innovation Consulting (BIC) helps companies identify, create, and assess new technologies, markets, products, emerging companies and business models that achieve revenue growth.

BIC’s founding partner, Ralph Colello, has specialized in identifying and assessing the right products, technologies, and white space business opportunities to address unmet customer needs in changing business environments. Prior to launching Business Innovation Consulting, LLC, in 2005, he was a Vice President & Managing Director of Arthur D. Little’s management consulting practice, and later a Vice President of A.T. Kearney’s management consulting group. Ralph also served as a Director on the board of Opinion Research Corporation. He holds a MS from MIT.

Our History

Two Managing Directors of the former Arthur D. Little (ADL), a world leader in technology and management consulting founded Business Innovation Consulting (BIC).  BIC was launched to cost-effectively help clients apply practical principals of innovation.  Our philosophy from the beginning was to make a distinctive, lasting, and substantial impact for clients; bringing profitable new products to market and creating successful new business opportunities. 


ADL’s landmark book, “Third Generation R&D: Managing the Link to Corporate Strategy”, published in 1991, laid-out the framework to improve the integration of firm-wide product R&D activities to better serve the near-, mid-, and long-term strategies.  From these 3rd Gen origins, BIC evolved its Solutions-Driven Process ™.  The methodology was developed to meet the pressing need for a practical and implementable way to create game-changing products and successful new categories… consistently, predictably, and profitably.


In 2005, the size and reach of BIC’s technology network grew dramatically. BIC contracted with Battelle Memorial Laboratories to apply their extensive R&D capabilities to the needs of the private sector. With the national labs Battelle managed for the U.S. Department of Energy, U.S. Department of Homeland Security, and others, Battelle has access to over 19,000 scientists. 


As BIC assisted clients, it became clear that BIC needed to be wholly independent of any source of intellectual property, because BIC assigns all rights to intellectual property to our clients.  So, the formal contractual relationship with Battelle was discontinued in 2006.  However, the business relationship between BIC and Battelle remained strong, and Battelle scientists and engineers continued to be staffed on BIC assignments to provide their specific expertise as needed.


BIC’s staff has grown to encompass senior professionals with expertise in four industries: Consumer Products, Food & Beverage, Healthcare & MedTech Products, and Industrial Products.  Geographical reach was augmented in 2007 by launching BIC’s office in Milan, and then again in 2008 with a new office in London.


BIC expanded its reach to Asia by partnering with ZENeSYS, a firm with expertise in information mining and ability to create analytical models for meaningful and actionable recommendations. ZENeSYS maintains a highly competent research staff in India.

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