- Innovation Family Planning. Defining the right balance in your innovation portfolio between existing and new business
- Organizing the innovation family. Implement the right set-up and way of working required for the whole family as well as for the individual members
- Business Model Innovation. Create new dynamic business models showing the rationale of how your business creates, delivers, and captures value
- Accelerating new business. Survive puberty by co-creating the market and scaling your business together with partners
- Business Validation. Use a venture development framework to evaluate your innovation family as well as the individual members
- Think & Act as Entrepreneurs. Use a set of decision-making principles, used by entrepreneurs to rapidly sense, act and mobilize in situations of uncertainty (effectuation)
- Innovation performance management. Have a performance management system in place that is tuned to the specific needs of the different innovation family members
- The entrepreneurial toolkit. Use a set of tools to translate customer insights into value propositions and business models and to build partnerships for co-creating the market and to accelerate, applying the principles of lean start-up and effectuation
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Organizing the innovation family
Different types of innovation need to be managed and organized differently. Although all innovation members belong to the same innovation family, each member should be given room to develop him/herself, taking into account the different needs in each stage of life.
Being part of a large company, a new business must be able to forget the parent company’s success formula, borrow the parent’s resources, and learn how to succeed in a new environment. It’s kind of like when you leave home to go to college. You forget your parent’s rules, borrow their laundry facilities, and learn how to succeed on your own terms.
Also stand alone startups have their own, small agile, flexible organization, which develops and grows over time. They should forget about copying the ways of working of traditional innovation which is linear and more predictable. Experimenting is what they need to be good at, together with customers and partners.
There is no ‘one size fits all’ approach and there are different ways to organize innovation. In our book ‘Corporate Venturing’ we allow you take a look behind the scenes of fifteen innovation families and how they have organized their innovation.
Our clients are large companies with Corporate Venturing units as well as companies that are relative new to Corporate Venturing and want to add corporate venturing instruments to their innovation portfolio.