Fronteer Strategy - Vlerick Co-creation & Open Business Models

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Presentation by Martijn Pater about Co-creation and Open Business Models during the Vlerick Innovation Day

Presentation by Martijn Pater about Co-creation and Open Business Models during the Vlerick Innovation Day

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  • 1. Fronteer StrategyCo-creation & Open Business Models- 2nd Vlerick Innovation DayBrussels, October 11, 2011 FRONTEER STRATEGY I N N OVAT I O N. C O - C R E AT I O N. B R A N D D E V E L O P M E N T.
  • 2. User Generated Content Open Innovation Co-Creation Expert Board Communities Crowdsourcing 2.0 Social Media Collaboration FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 2
  • 3. How does it relate to? Social media Co-CreationExpertpanels Brainstorm sessions Research Hiring an Team sessions FRONTEER STRATEGY agency INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 3
  • 4. Question to you: “What is Co-creation?”FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 4
  • 5. ABOUT USFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 6. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 6
  • 7. We help brands to growFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 7
  • 8. 8
  • 9. Our services VALIDATION STRATEGY IMPACTBUSINESS INNOVATIONMODELING BRAND CO-CREATION DEVELOPMENTFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 9
  • 10. CO-CREATIONFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 11. Unpredictability 11 Source: Banny Bannerjee, Stanford University
  • 12. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 12
  • 13. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 13
  • 14. “You cannot solve a problem with the same thinking that created it.”FRONTEERSTRATEGY Albert EinsteinINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 14
  • 15. “No matter whoyou are, most ofthe smartestpeople work forsomeone else.”FRONTEERSTRATEGY Bill Joy, Founder Sun MicrosystemsINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 15
  • 16. “Co-creation unlocks the collective creativity of people to create deeply relevant solutions.”FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 16
  • 17. “Co-creation is the chance for others to complete the work that you started, going well beyond what you envisioned or intended.” Henry Chesbrough,FRONTEER author of Open ServicesSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 17 Innovation (2011)
  • 18. “Co-creation is developing new products, concepts or services together with customers, partners and other expert stakeholders.” FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT.FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 18
  • 19. Why Co-Creation? 1. Real involvement of the outside world 2. Fresh new perspectives, ideas & energy3. Innovative, compelling & round concepts 4. Point of No ReturnFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 19
  • 20. 4 TYPES OF CO-CREATIONFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 21. 4 Types of Co-creation Anyone Crowd of Community of can join People Kindred SpiritsOpen- Crowd of people ness Selection Club of Coalition of process Experts Parties Initiator Initiator + Contributors Ownership 21
  • 22. 4 Types: Crowd of People Anyone Crowd of can join PeopleOpen- ness For any given challenge, there might be a person ‘out there’ with a Selection brilliant idea process ➡ Community, PR, Crowdsourcing Initiator Initiator + Contributors Ownership 222
  • 23. 99Designs What does the co-creator get out of it?FRONTEER 200-500 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 24. FRONTEER 2500 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 25. FRONTEER 1% of revenuesSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 26. 25.000 € andFRONTEERSTRATEGYINNOVATION. 1% of revenuesCO-CREATION.BRAND DEVELOPMENT. 26
  • 27. FRONTEER 40% of revenuesSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 28. A GRI (Glucose Responsive Insulin) for Better Treatment of Type 1 DiabetesFRONTEER 100.000 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 28
  • 29. FRONTEER 1M USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 29
  • 30. FRONTEER 100M USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 30
  • 31. - 250 USD
  • 32. 4 Types: Community of Kindred Spirits Anyone Community of can join Kindred SpiritsOpen- ness Groups with similar interests & goals developing something for the Selection greater good process ➡ Social, Open Innovation Initiator Initiator + Contributors Ownership 322
  • 33. Glory33
  • 34. FRONTEER Your own products madeSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 34
  • 35. A new interior35
  • 36. A better world36
  • 37. FRONTEER A better classroomSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 37
  • 38. A unique chance38
  • 39. 4 Types: Coalition of Parties In certain complex situations you Anyone can join need to team up to share ideas and investmentsOpen- ➡ R&D, Relations ness Selection Coalition of process Parties Initiator Initiator + Contributors Ownership 392
  • 40. New opportunities40
  • 41. New value41
  • 42. 4 Types: Club of Experts Specific, time-pressured challenges Anyone can join that demand expertise & breakthrough ideasOpen- ➡ Visionary, Team ness Selection Club of process Experts Initiator Initiator + Contributors Ownership 422
  • 43. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 43
  • 44. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 44
  • 45. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 45
  • 46. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 46
  • 47. WHY? Fun, Fullfillment,FRONTEERSTRATEGYINNOVATION. Fame, FortuneCO-CREATION.BRAND DEVELOPMENT. 47
  • 48. CAMPER Innovation campCo-creation services 10-15 people 5 days-off CAMPSITE Crowdsourcing 500+ people 1 challenge, 9 wks Crowd of people ROOFTOP CLUBHOUSE Expert co-creation Strategic alliances 5 + 10 people 2+ parties 1 challenge, 1 day 1 challenge, x wks
  • 49. KICKSTARTER .COMFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 50. What can we get funded?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 50
  • 51. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 51
  • 52. Some recent numbers: 80 Projects launched daily 1M USD pledged weekly 14K projects 400K pledgers +/- 40% gets funded 10% of projects are gadgets 5% goes to Kickstarter.comFRONTEERSTRATEGY Source: Wired.comINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 52
  • 53. How does it work?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 53
  • 54. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 54
  • 55. Upload Video, blog, Pledge project social media levels % FundedProduction.. BackersFRONTEER Days leftSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 55
  • 56. What is really What could be good? improved? 1. Easy & Open 1. More structure 2. Trust 2. Co-creation 3. Promotion 3. Hick-upsFRONTEERSTRATEGY Source: YobbleINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 56
  • 57. A iPod Nano watch got... FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 57
  • 58. As a result: 6 People hired to answer... 40.000 e-mails Prooduction time shortened to 30 days Very close connection to customersFRONTEERSTRATEGY Source: Wired.comINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 58
  • 59. “People’s use of the service is never what the creators intended.” - Investor in KickstarterFRONTEERSTRATEGY Source: Wired.comINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 59
  • 60. THE FUTURE?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 61. How will we fix a broken stroller?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 61
  • 62. FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 62
  • 63. ThanksFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 64. Whitepapers: fronteerstrategy.comFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.
  • 65. FRONTEER info@fronteerstrategy.comSTRATEGYI N N OVAT I O N.C O - C R E AT I O N.B R A N D D E V E L O P M E N T.