Use open innovation and competitions to accelerate your innovation process
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This presentation is from my lecture at The Hague for the research network YEAR. This year’s conference was on the topic Open Innovation. http://www.year-network.com/activities/year-annual-conference-2016-2
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Use open innovation and competitions to accelerate your innovation process
- 1. MONDAY. 18 APRIL Use open innovation and competitions to accelerate your innovation processBY: JACOB WESTERLUND | OPEN INNOVATION MANAGER Twitter: @JacobWesterlund Email: jacob.westerlund@sqore.com
- 2. The Lab is your world!
- 3. The World is your lab!
- 4. Sqore® INNOVATION Corporate mindsets & assumptions Open Innovation Closed Innovation 1. The more consumers, the more the market grows 2. We will be first on the market 4. Not all the smart people in our field could work for us 1. With patents, we can make money in many years 2. We will be unique in the market 3. The smart people in the field work for us
- 5. Sqore® INNOVATION Personal mindsets & assumptions Open Innovation Closed Innovation 1. ”The team should consist of people who are better than I am.” 2. “Through social media, I can find important business contacts.” 3. “Lets go to the yearly conference and meet new people.” 1. ”As long as I know most of our product in the team, I am irreplaceable.” 2. “Social media is just a waste of time.” 3. “I will stay at home and work; it’s more calm.”
- 6. Open Innovation vs. Closed Innovation - Mind the gap!
- 7. Sqore® INNOVATION The Open Innovation Network Customers Suppliers Startups Academia Industry clusters
- 8. Sqore® INNOVATION The Open Innovation Network Customers Suppliers Startups Academia Industry clusters 1. Relations and contacts with all 2. Both good and bad to have relationships Quick to juggle the challenges and opportunities but worse when thinking in new ways 3. Expect incremental Innovation - improvements
- 9. Sqore® INNOVATION The Open Innovation Network Customers Suppliers Startups Academia Industry clusters 1. Does not have relations and contacts with all (probably a few) 2. Does not necessarily have the knowledge or understanding of the business, which can be positive for ‘outside the box’ thinking 3. Can bet on disruptive innovation 4. Challenge is to reach out and attract with good incentives
- 10. Sqore® INNOVATION The Open Innovation Network Customers Suppliers Startups Academia Industry clusters 1. Quick results through partnerships 2. Possible to find solutions in other industries 3. Cultural difference between a large company and a startup creates challenges 4. One solution for this is that companies are starting their own incubation environments
- 11. Sqore® INNOVATION Incubators run by large companies Large Companies could offer: • Customer insights and big data • Access to labs and testbeds • Resources and MONEY!
- 12. Sqore® INNOVATION Investments lead to new innovations
- 13. Sqore® INNOVATION The Open Innovation Network Customers Suppliers Big companies Academia Industry clusters 1. They don’t have high barriers 2. They probably come from academia 3. The CEO talks to the customer every week 4. Usually, they have no suppliers 5. Should talk to the Big companies, which they probably do not do today Startup Company
- 14. Examples of how companies work with Open Innovation
- 15. Sqore® INNOVATION Heineken • Multiple Open Innovation channels • Open Innovation is very much about trust and transparence
- 16. Sqore® INNOVATION Heineken • Making Open Innovation entertaining and easy to communicate
- 17. Sqore® INNOVATION Siemens • Internal version of Kickstarter • Executives with budget could invest in the projects
- 18. Sqore® INNOVATION • User-driven Innovation • Incremental innovation • Low conversion rate from submissions • Marketing purpose Starbucks
- 19. Sqore® INNOVATION H&M CO:LAB Investment focus • Sustainable fashion and sustainability issues • Innovative retail sales • New technical tools related to the fashion industry • Corporate Venture Capitalist (CPC) • Could start as a partnership
- 20. I think tomorrow's winners are companies that manage to create as many links as possible between their closed and open innovation processes
- 21. Sqore® AN INTRODUCTION We design successful innovation competitions that connect organisations with external innovation resources to accelerate their innovation processes.
- 22. Sqore® AN INTRODUCTION We customise online competition platforms H&M Conscious Foundation Perstorp Autodesk Toyota • Different competition set-up requires different features and solutions • The jury members can easily access and vote online
- 23. Sqore® AN INTRODUCTION Example of innovation competition process 4-6 weeks 48 hours8-12 weeks Idea pitch Pitch your idea within the stated parameters. Participate individually or as a team. Submission (based on template) Submission template in forms to develop the idea. Participate individually or as a team. Dragon’s Den The finalist/s pitch their ideas to the jury. 25 ideas selected by social voting 25 ideas selected by the jury Final proposals selected by jury
- 24. Sqore® INNOVATION About Innovation Competitions • Faster and more efficient • Democratic innovation process • No passive suggestion box • Clear IP strategy required • Without marketing, not a successful competition • Innovation competition is not a universal tool
- 25. Sqore® INNOVATION Motivator • Interest in the subject and brand • Participation and influence • Confirmation and reputation • The space for creativity • Really difficult problems • Winning (gamification) • Money
- 26. Sqore® INNOVATION Money Prize Reward Corporate Partnership Winner relinquishes IP rights Winners retain IP rights Incentive Strategy 1 2 3 4
- 27. Examples of how companies work with open innovation
- 28. Sqore® INNOVATION • Participants from 118 countries • 1 000 000€ in grant money split between 5 winning ideas • Accelerator program • Winning ideas: dissolve cotton in textile waste, make clothes from fruit peels • The crown princess of Sweden awarded the prizes Global Change Award
- 29. Sqore® INNOVATION • No money prize • The prize was a partnership • Two partnerships (new products) already launched • Why couldn’t the startup just call Eniro instead of compete? Eniro
- 30. Sqore® AN INTRODUCTION Marketing Channels Marketing Partners Client Channels Our online Community Paid Marketing Education Institutions ■ Webpage ■ Social media channels ■ Partners & customers ■ Partner initiatives ■ Relevant blogs ■ Relevant portals ■ Student channels ■ Google AdWords ■ Social media ads ■ LinkedIn sponsored ads ■ Paid partner communication ■ Listing ■ Boosted social media ■ Pre-registration form ■ University relations ■ High school relations ■ Career centers ■ Faculties
- 31. MONDAY, 18 APRIL That’s it.BY: JACOB WESTERLUND | OPEN INNOVATION MANAGER Twitter: @JacobWesterlund Email: jacob.westerlund@sqore.com