Corporate Innovation Accelerator
Guiding in-house startups from idea to executive pitch
The goal of this Corporate Innovation Accelerator Program (or Startup Accelerator Program) is to embrace innovation in a structural way within your business strategy. We aim to help companies by creating and supporting corporate venture teams (corporate startups) that are developing new business concepts outside of the core business, within a short period of time. The biggest difference with shorter innovation programs (e.g. a hackathon) is the fact that you give teams the chance to structurally incorporate a new mindset and methodology to execute radically new ideas.
“Fantastic opportunity to learn how to think outside of the box, how to be innovative & find new business opportunities. Great experience & learnings taken from all the participants, from the project itself to how to present or how to prepare a pitch.”Oscar Salvador - Segment Analyst for Food and NAB at O-I Europe
The typical process of a Corporate Innovation Accelerator Program
Scope your Accelerator Program
A business accelerator program should focus on mid- to long-term opportunities. The long term goals of an organization are generally more ‘high level’ in comparison to the shorter term objectives. To make sure the results of the accelerator meet the long term goals, all relevant decision makers should be aligned on what (not) to expect as a potential result.
Set innovation KPI’s & criteria:
Together we define 3 to 5 selection criteria, based on the innovation goals and scope of the accelerator, at the start of the program. It’s important to include all relevant stakeholders in this process from the start. These criteria will give guidance to all participants of the accelerator. Note: we prefer long term growth over short term profits.
Outcome: Investment Opportunities
At the end of the Corporate Innovation Accelerator, you have explored 100+ new business opportunities and worked them down to 3-5 executive investment opportunities: moving into an adjacent market, experimenting with new business models or launching a new product or service. Multi-disciplinary teams that think and act like startups are ready to bring the new solution to market.
How to design an Innovation Accelerator:
Typical Challenges to tackle
- Innovation initiatives are scattered in our organisation.
- Our entrepreneurial people get no real support from us.
- Innovation should not only start from R&D projects.
- We need a structured process to guide our innovation teams.
- For enterprises that want to structure & accelerate
their innovation efforts.
Creativity rounds (out-of-the-box)
- Templates & tools to gather +1000 ideas
- Triggers based on analogy thinking
- Future thinking (radical, long term)
- Inspiration shots (Disruption, Next Gen,…)
- Technology inspiration
- Starting from Consumer Needs & Problems
- What-if scenarios
- Experience new mental frameworks
- Principles of creativity & innovation
- Brainstorming techniques
- No judgement
Prototyping & market focus
Build on first ideas
- Smart copying from innovative ideas
- Learn from competitors & startups
- Hybrid brainstorming
- Inspiration from upcoming trends
- Participant create #amazeme decks to look into non-conventional areas
- Cluster ideas & Prioritise
- Learn to evaluate & structure ideas
- Discover patterns & different domains with opportunities
- First selection of most promising concepts
- Main focus = to understand the assumed problems-to-solve
- Customer journey analysis & pains
- Apply Lean Startup principles
- Customer development
- Structure hidden assumptions (tech, bizz,…)
- 1 team = 1 idea (domain)
- Get-out-the-building for validation
- Customer / user interviews
- Learn how to interview users & validate assumptions
- Startup culture vs corporate world
- Validate key features by building first iteration
- Minimal Viable Product
- Gather real world user feedback
- Align with original innovation scope (adjust)
- Prioritise features (value analysis)
- In-depth research + market scan
- Framework to structure experiments
- Learn new tools to tests & validate concepts
- Interaction with startup world & entrepreneurs
- Evaluate internal obstacles (stakeholder mgmt)
- Get individual support from designers/coders/…
Business Model Exploration & Pitch
- Last iteration on business model design
- Explore revenue options (Decision tree)
- Build mini-business cases (hands-on)
- Learn from innovative & experimental business models in other markets
- Pricing & cost analysis (Resources needed)
- Presentation & Pitching techniques
- Share feedback with other teams
- Graphic design support to build visuals
- Structure investment decision & next steps
More info about innovation accelerators?