May 13, 2015
business model innovation
product & service innovation
process innovation
technology innovation
Types of innovation
idea creation in the mind
idea commercialisation act
(Princeton University)
( ( ) )
The process or activities by which a company adds value to an article.
Generation Conversion Diffusion
Internal Cross-unit External
Generation
Evaluation Development
Conversion
Diffusion
Market introduction
“A company’s capacity to innovate …
…as good as the weakest link in its innovation value chain.”
LINK SUB-LINKInternal
Cross-unit
External
No open innovation strategy (no / little
sourcing of ideas from customers,
competitors, etc)
Evaluation
Development
Idea DiffusionMarket
introductionDeveloped ideas rarely generate profits
Ideas rarely converted into marketable
products/services
Idea Generation
Employees don't generate ideas, little
collaboration between employees
Idea Conversion
No platform
to formally
capture
WEAK LINK IF…
Criteria too strict (kill ideas) or too loose (swamped
with ideas outside competency)
Creative, unstructured
concepts
Structured, managed execution
Software
Creative, unstructured
concepts
Structured, managed execution
creative techniques & organisation-specific creative content and idea campaigns via e-mail
internal & cross-unit collaboration
Initial Assessment
Idea Evaluation
Project Planning
Project Execution
Project Evaluation
Peer Review
Initial Assessment
1st Evaluation
Classification
Business Case
2nd Evaluation
Classification
Feasibility Study
Exco Review
Budget Allocation
Allocated Resources
Pilot Project
Pilot Feedback
Review Readiness
Project Execution
Project Evaluation
Lessons Learnt
Rewards
The Novixo Innovation Funnel:
Required features: Innovation Management Application
Technical
• Configurable
• Scalable
• E-mail notifications
• SaaS / Enterprise installation
• Active / Sequel directory
• Company branding
Functional
• Management of ideas from
submission to execution
• Idea campaigns
• Comprehensive reporting
• User friendly
• Open Innovation module
• Reward allocation
comprehensive reporting to track idea progress
Qualitative: Opinions - strength of 5 pillars
Quantitative: Factual; precise