Helping clients innovate through open source networks
description
Transcript of Helping clients innovate through open source networks
Helping clients innovate through open source networks
Big Idea Group
BIG Idea Group
• Founded in 2000• Network of over 11,000 inventors• Licensed over 60 products, about 25 already in
the market• Clients include: General Mills, Staples, Sunbeam,
Thomson, Kraft, etc.• Three companies started based upon our work
Innovation is on the mind of every CEO
• “50% of all innovation will come from outside our walls.”—A.G. Lafley, CEO P&G
• “Innovation is what consumers are looking for.”—Steve Reinemund, CEO PepsiCo
• “The only source of profit, the only reason to invest in companies…is their ability to innovate and differentiate.”—Jeffrey Immelt, CEO GE
Other competitive edges disappearing
• Manufacturing outsourced to China
• Increase of private label brands• Pricing efficiency on the rise
(Google, eBids, etc.)• Product lifecycles shortening—
everyone always wants to know what’s new
• Globalization efficiencies
What is open source innovation?
Open teams of best-of-class collaborators coming together around specific
innovation opportunities
• Flexible• Accountable• Efficient• Productive
Client innovation questions
• How do I find "white spaces" for growth?• How can I "open the funnel" and expand my flow of great ideas?• How can I systematically screen and select the best opportunities?• How can I quickly develop concepts into products?• How do I integrate innovative marketing with innovative product development?• How can I build entrepreneurial ventures to exploit innovations?• How can I re-energize brands through innovation?• How can I better manage and monetize my IP assets?• How can I make innovation more systematic?
Structures and processes
Metrics and incentives
Growth goals and boundaries
1. Identify areas of opportunity
2. Create discrete ideas in specified
areas
3. Screen and classify ideas
4. Take identified ideas forward
5. Formally launch and grow
Project Teams
Flawed ideas killed
Resource allocation
The business of innovation
Sustaining: Validate & Execute
Disruptive: Test & Adjust
Senior Management
How can I find innovation white space?
White Space Workshop
White Space Field Study
pulls together what your organization already knows
spots new innovation "fishing holes" by intensive consumer observation and interaction
Great product innovation starts with focusing on unmet or poorly met consumer needs
How can I increase my flow of great ideas?
Idea Hunt
Idea Slam
Idea Quest
Idea Challenge
network of 11,000 inventors attacks a white space brief
intensive ideation session with internal and external experts and lead users
customer innovation contest
internal innovation solicitation and recognition program
Clients want to go beyond traditional R&D and use a mix of external and internal resources
How can I screen & select best ideas?
Innovation Seminar
Innovation Review
Team
provides frameworks and processes that teach how to quickly triage opportunities
permanent or temporary teams; reviewers can be internal, external, or mix
Clients want to quickly sort a long list of innovations to focus on those with highest potential
How can I quickly turn ideas into saleable items?
Marketing Design
Physical Design (narrow)
Physical Design (broad)
marketing, positioning
specific issues or one phase
comprehensive: visuals, proto, engineering, etc.
Clients want “wow” products efficiently designed for market success and cost-effective production
World-class ID from blue-chip firms & value-oriented offshore resources:
How do I integrate innovative marketing & PD?
Branding
Packaging Design
Launch Marketing
positioning, naming, brand development
packaging, POP, retail experience
advertising, promotion, PR, community development
Clients want powerful, coordinated marketing programs that are as innovative as their products
We offer comprehensive, world-class marketing communication services:
How can I build ventures to exploit innovations?
Venture Services
Venture Equity
fee-based
for equity
Clients want to take ideas to the marketplace in a way that minimizes risk and maximizes return—
internal, JV, or external
We help by creating entrepreneurial organizations and templates for running those ventures:
How can I re-energize brands by innovating?
Brand Revitalization Services
Brand Revitalization Equity
fee-based
for equity
Clients want to invigorate brands for growth without diverting resources or focus
We create value for neglected brands by adding world-class innovation and marketing:
How can I better manage & monetize my IP?
Valuation
Investments
Corporate Finance
appraisals, analytics
capital fund, sale/license back
M&A advisory, IP auctions
Clients have underutilized intellectual property and underdeveloped IP strategies
We offer services focused on protection, monetization strategy, and merchant banking:
How can I make innovation more systematic?
Innovation Seminar
Innovation Consulting
frameworks, process
custom consulting
Clients want processes and structures to create deep, repeatable innovation capabilities
Consulting services focused on practical solutions and immediate results:
Hunt Case Study
• Search for innovations to address innovation white space
• Open source: Call to BIG’s 10,000+ inventor network for ideas
• Ideas processed, evaluated, winnowed • Monetization and development strategy
determined• Three months - 75k
Brief
• General Mills Snack Group hires BIG to hunt for healthy kids’ snacks
• Brief is written• Inventor materials
prepped• Hunt publicized
Call for Innovation
• 250+ inventors submit over 800 ideas• BIG processes, evaluates, selects best
Idea Triage
GMI Internal
• 5 concepts targeted• Good fit for existing
business processes
New Venture
• 1 concept incubated as a new business by BIG and partners
• Better exploited by small entrepreneurial team
Structures and processes
Metrics and incentives
Growth goals and boundaries
1. Identify areas of opportunity
2. Create discrete ideas in specified
areas
3. Screen and classify ideas
4. Take identified ideas forward
5. Formally launch and grow
Project Teams
Flawed ideas killed
Resource allocation
The business of innovation
Sustaining: Validate & Execute
Disruptive: Test & Adjust
Senior Management
Summary
• Innovation is more important than ever
• BIG/Agency can be your key strategic partner to undertake and coordinate the often complicated, daunting challenge of innovation