A few controversial things I believe about Corporate Innovation:
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1) Innovation Theater is not at all a phase in the innovation funnel.
I’m not saying that shows, events, stages and running from PR to PR gig has no effect.
I’m just saying the more time you have to spend validating your assumptions and kick-starting the compounding effect, the more successful you will be (and yes, PR might have an important role later on).
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2) M&A and corporate innovation are each-others enemies.
Contrary to popular belief, they can work harmoniously together.
1. Using corporate innovation methodologies, figure out a problem worth solving
2. Build a solution people want to pay for
3. Search for prospects to buy and grow your main value proposition.
M&A & Innovation working closely together is a fast-track to a high ROI.
(For inspiration, check my latest substack newsletter about spawners).
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3) innovation-lab should be outside the organisation.
Does it really need to be?
The most important thing is not to interrupt the discovery process.
Experience never trumps the results of good experiments.
If your team can compound learnings without interruption, just let your innovation-lab work in the main offices.
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Don't create unicorns,
Let's breed blue whales.
🐋
