End to end Open Innovation Management Solution.

1. Induct – Sales Pitch – Differentiation
Varadarajan Krishna

2. Why Innovate?
Since the rate of change in the business landscape is continuously
increasing, the importance of adapting to swiftly evolving customer
needs confirms that innovation is a survival imperative
(Leader or Laggard – Cap Gemini Consulting survey, May 2009)
Social networking has redefining how we relate with
family, friends and colleagues …
… it is well established that innovation is not done in isolation!
We believe that in the future organizations ability to
innovate will be more and more dependent on their ability
to take advantage of collaborative innovation!
The Open Innovation Company TM

3. What are we selling?
1. Increased Innovation Capacity
2. Increased Innovation Ability
3. Reduced Cost of Innovation
4. Reduced Risk of Innovation
 Increased Return on Innovation
The Open Innovation Company TM

4. What is the Value Proposition?
The Induct SaaS Corporate Innovation Community
Suite will ensure:
1.Structured and efficient end-to-end innovation
management process
2.Enhanced collaboration between stakeholders
(employees, customers, suppliers, partners etc.)
3.Ability to perform portfolio management for
balanced innovation efforts and measure innovation
performance towards success criteria
4.Federate relevant and targeted knowledge and
information from stakeholders to innovation activities
The Open Innovation Company TM

5. 1. Innovation Process
The most successful innovators have well defined
processes for promoting and managing their innovation
efforts
• Over sixty percent of the most successful innovators have well
defined processes for innovation, while less than one-quarter of
the least successful innovators do
• Over seventy-five percent of innovation leaders have clear
ways to define and prioritize ideas
• Half of the most successful innovators have a clear approach
for evaluating the success of their efforts; only seventeen
percent of the least successful innovators say the same thing
The Open Innovation Company TM

6. 2. Enhanced collaboration
Innovation leaders engage employees throughout the
organization, develop a culture of innovation, being open to
partnerships and have a clear executive commitment to
innovation
• One hundred percent of innovation leaders agree that they have
a high degree of executive commitment to innovation; fewer than
half of the innovation laggards do
• Over two thirds of the most successful innovators engage their
employees at all levels in their innovation efforts, while less than
a quarter of the least successful innovators do so
• Thirty-seven percent of all respondents say that they “maintain
ongoing customer conversations to support multiple elements of
our innovation processes”
• However, among the least successful innovators, only twenty-
nine percent say that they maintain ongoing customer
conversation and almost one in five do not engage their
customers at all
The Open Innovation Company TM

7. 3. Portfolio Management
Effective portfolio management and the ability to prioritize
projects is a key characteristic of successful innovation
•More than three-quarters of innovation leaders have a defined
approach to prioritizing and driving innovation. By contrast, just
about a quarter of the least successful innovators do.
•Portfolio management activities build further discipline into the
process. They also provide a mechanism by which companies can
decide whether to “fail fast” or continue with development, and
provides guidelines against which to measure smart failures. It
also ensures that the firm’s innovation efforts are aligned with
broader corporate objectives and in line with the firm’s strategic
goals
The Open Innovation Company TM

8. 4. Automated Content Federation
An inability to find the right people also limits firms’
abilities to innovate successfully
•About a quarter of all respondents indicated that they lack the
necessary skills in-house to support their innovation efforts. Further,
once projects are kicked off, nearly half of all survey participants
indicated that difficulty in finding the right people to drive the effort
poses the greatest challenge to delivering successful innovation
Although most ideation and development takes place in-
house, innovation leaders are more likely to engage external
partners and make use of external information / knowledge
•Innovation leaders take advantage of external sources of innovation
more than other firms
•Innovation is more likely to emerge when firms reach beyond their
corporate and industry boundaries, take advantage of intersections
across different fields, cultures, people and industries
The Open Innovation Company TM

9. Why Induct?
 Induct has studied innovation practice in more than 250
organizations
 Induct participate in 3 major research projects to drive the
future of innovation – more than USD 40 mill in project
budgets
 Induct are working closely with Professor Henry Chesbrough
(heading the academic advisory board)
 Induct establish long term client partnerships – no “hit and run”
idea campaigns, but long term sustainable innovation capacity
 Induct is the only company in this market, which:
– combining innovation management practice with search/federation
technology
– connecting innovation communities, and building innovation zones
across organizations
– building the world’s largest database of collaborative innovation
intelligence
The Open Innovation Company TM

10. The People Principles of Innovation
 Creating a Culture of Innovation
 Most companies struggle with engaging employees at
all levels in the innovation process
 Broader engagement with employees at all levels is
positively correlated with successful innovation
 Collaboration across functions remains a challenge but
is closely correlated with successful innovation
The Open Innovation Company TM

11. Reference Cases
Several customers are already utilizing the Induct SaaS
Innovation Suite:
“We have an
e-mail address
 Customer satisfaction is very high. A survey for our customer where employees
Software Innovation scores 79/100 that Induct software and can submit their
processes are helpful tools for core business and 80/100 that
ideas, however, I
Software Innovation should continue utilizing it
don’t think anyone
 The customers have found a new break-through concept knows about it”
through the Induct Solution, e.g. Kavli2)
 The customers have increased idea generation, e.g. CIMIT - Large Financial
that has received twice the number of ideas compared to Institution
before utilizing the Induct Innovation Suite
The Open Innovation Company TM