Fronteer strategy 2011 vlerick co-creation and open bus models

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.

User Generated Content Open Innovation Co-Creation Expert Board Communities Crowdsourcing 2.0 Social Media Collaboration FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 2

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

Question to you: “What is Co-creation?”FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 4

ABOUT USFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 6

We help brands to growFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 7

Our services VALIDATION STRATEGY IMPACTBUSINESS INNOVATIONMODELING BRAND CO-CREATION DEVELOPMENTFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 9

CO-CREATIONFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Unpredictability 11 Source: Banny Bannerjee, Stanford University

“You cannot solve a problem with the same thinking that created it.”FRONTEERSTRATEGY Albert EinsteinINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 14

“No matter whoyou are, most ofthe smartestpeople work forsomeone else.”FRONTEERSTRATEGY Bill Joy, Founder Sun MicrosystemsINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 15

“Co-creation unlocks the collective creativity of people to create deeply relevant solutions.”FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 16

“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)

“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

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

4 TYPES OF CO-CREATIONFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

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

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

99Designs What does the co-creator get out of it?FRONTEER 200-500 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

FRONTEER 2500 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

FRONTEER 1% of revenuesSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

25.000 € andFRONTEERSTRATEGYINNOVATION. 1% of revenuesCO-CREATION.BRAND DEVELOPMENT. 26

FRONTEER 40% of revenuesSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

A GRI (Glucose Responsive Insulin) for Better Treatment of Type 1 DiabetesFRONTEER 100.000 USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 28

FRONTEER 1M USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 29

FRONTEER 100M USDSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 30

- 250 USD

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

Glory33

FRONTEER Your own products madeSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 34

A new interior35

A better world36

FRONTEER A better classroomSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 37

A unique chance38

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

New opportunities40

New value41

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

WHY? Fun, Fullﬁllment,FRONTEERSTRATEGYINNOVATION. Fame, FortuneCO-CREATION.BRAND DEVELOPMENT. 47

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

KICKSTARTER .COMFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

What can we get funded?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 50

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

How does it work?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 53

Upload Video, blog, Pledge project social media levels % FundedProduction.. BackersFRONTEER Days leftSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 55

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

A iPod Nano watch got... FRONTEER STRATEGY INNOVATION. CO-CREATION. BRAND DEVELOPMENT. 57

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

“People’s use of the service is never what the creators intended.” - Investor in KickstarterFRONTEERSTRATEGY Source: Wired.comINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 59

THE FUTURE?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

How will we ﬁx a broken stroller?FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 61

ThanksFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Whitepapers: fronteerstrategy.comFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

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.

Fronteer strategy 2011 vlerick co-creation and open bus models

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