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We all have witnessed companies that seem to effortlessly turn innovation into value. What do these companies have in common? They innovate! But how? Innovation comes with high complexity, cost and inherent risk. Embracing innovation demands that products, services and processes are reimagined. So how do you mitigate the risk of boldly going where no man has gone before? How do you structure innovation projects and apply proven methodologies and practices to unchartered territory? How do you establish an innovation culture? There is not one holy grail of innovation, the right and unique blend of various techniques will drastically improve the chance of success of one’s innovation journey. We will look into examples of companies that disappeared due to the lack of innovation and into companies that demonstrated how their biggest setbacks have become realized opportunities.