EDP Group: a renewed innovation model

Co-creating a framework for more efficient innovation at EDP Group

Board of Innovation developed a multi-tier innovation strategy project for EDP Group, to improve on their current innovation model. 

The goal: to streamline cross-company innovation sharing and efforts.

Challenge

Multi-company innovation without
an overarching approach

EDP Group is a holding with multiple companies around the world, each with their own mission. Innovation is a hot topic throughout the group, with multiple individual efforts underway in different areas and across the entire holding.

But when these companies all innovate individually, how do you coordinate an innovation effort and capture potentially relevant synergies? To answer that question, the holding turned to Board of Innovation.

Approach

A multi-phase innovation
strategy project

Over a 4-month timeline, Board of Innovation launched an EDP-centric innovation strategy process built on 5 key steps: scoping, an innovation assessment, an innovation benchmark, innovation strategy sprints and the definition of a new innovation model.

We delved into the EDP Innovation community’s insights and co-created in close collaboration, to gain relevant input in order to shape and define the new innovation model. The community’s input was particularly valuable for the innovation assessment and innovation strategy sprint phases of the project.

Results

A new innovation model
awaiting implementation

Once the whole process was complete, Board of Innovation presented EDP Group with a detailed proposal outlining a new and improved innovation model. This model was based on 7 key components, including:

  • The creation of a new innovation management and execution framework, based on newly identified innovation project categories.
  • A new innovation funnel including common steps to apply to all innovation projects across the holding.
  • A new decision-making process for innovation projects, involving new innovation bodies.
  • A metered funding model for innovation projects inside the group.

EDP Group is currently evaluating and assessing the key components of the new innovation model designed by Board of Innovation. Next, the holding will proceed to implementing the model.

On this project

Giuseppe Alizzi

Giuseppe Alizzi

Senior Innovation
Consultant

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