Open Innovation 2.0 - Piero formica parallel 1 final(1)
ExperimentalEntrepreneurshipPiero FormicaSenior Research Fellow, Innovation ValueInstitute – National University of Irelandwww.ivi.ieOpen Innovation 2.0: Sustainable Economy & Society – Stability. Jobs. Prosperity.Dublin Castle, May 20 - 21 2013
ISOLATED TEAMSEXECUTIONPRESCRIBED MILESTONESRISKS ARE PROBABILISTICALLYMEASUREABLERATIONAL EXPECTATIONSEXPERTS, CONSULTANTSBUSINESS ANGELS, FORMALINVESTORSCOLLABORATIVE TEAMS– SHARING x MULTIPLYINGABILITY TO CHANGE DIRECTION– CHANGING TO AN ADJACENTDIRECTIONRISKS ARE NOTPROBABILISTICALLYMEASUREABLEUNCERTAIN EXPECTATIONSEXPERIMENTERS,CROWDFUNDINGINCUBATION EXPERIMENTATION
E = MC3Experimental labs are about experiments inentrepreneurial energyENTREPRENEURIAL FORMULA
E = MC3E stands for Ken-EnergyKEN (verb) : to have understandingKEN (noun) : a range of visionExperimental labs are about experiments inentrepreneurial energyENTREPRENEURIAL FORMULA
E = MC3M stands for entrepreneurialmass made up of attributes andmotivationsENTREPRENEURIAL FORMULAExperimental labs are about experiments inentrepreneurial energy
E = MC3Akio Morita’s (Sony’s founder) Cs:• Creativity in technology (creation)• Creativity in process (conversion)• Creativity in marketing (commercialization)CT x CP x CMENTREPRENEURIAL FORMULAWhat difference does it make how fantastic and innovativeyour technology is if you do not have the ability todesign a useful, attractive, user-friendly product ?(Akio Morita)
CT x CP x CM Interactive conversation Markets are conversation Watson and Crick vs Linus PaulingWatson and Crick vs Linus Pauling Links in human networks: affinity groups -small pieces loosely joined Lunar Society: “The best preceptor is the conversationLunar Society: “The best preceptor is the conversationof eminent men”of eminent men”ENTREPRENEURIAL FORMULAConversation = cum versare:To turn or to dance together
In labs, participants learn the language of the “extremes”, of the“extraordinary”Large deviations make the difference. Events supposed nothappening, happen“normal” isthe focus“extremes” arethe focus“extremes” arethe focusFeedback loopsCumulative, snowballs, arbitraryand unpredictable effectsYou don’t tame uncertaintylooking at extraordinaryeventsWe rewardacts ofpreventionrather thantreatment
Productive analogies between different specialized fieldsCommunity of Innovators: PeopleResolve.com
Power relations: creativepower that emerges whendifferent disciplines collide.
Interactionist identity(“innovation is a bodycontact sport”):– search for adjacent ideas(“one door leading toanother door”),– which ignites aprocess of accretion(“accretive development”).
• “I-shaped” individual – his/her experience isprofound,one mile deep, but his range of vision is onecentimetre width.
• “T-shaped” individual who adds to a deep expertisea wide range of knowledge and interests.
Presentation/DiscussantsAlertness Coaches MentorsProjectProjectProjectProjectODODODODJurySeniorsJuryJuniors(startupfounders)AwardsOPPORTUNITY DEVELOPMENT PROCESSTeams of OSOpportunitypresentationOPPORTUNITYDISCOVERFacilitate, question, listen, challenge, build,inspireInstruct, direct, engage with transformationEXPERIMENTALLABA vibrant community: Opportunity Seekers (OS)and Opportunity Developers (OD)
AlertnessTeams of OSOpportunitypresentationOPPORTUNITYDISCOVERCONTEXT• Establishment of a micro-ecosystem ofaspiring entrepreneur in a spirit of open innovation.• “Experiencing Experiments” – How theExperimental Lab works: a step-wise processofcreatingprobing,testing andscrutinising business idea opportunities andthinking.• Relevance, practicability and profitability ofthe business idea under experimental investigation.TRENDS• Technology and Business Trends in topgeo-economic areas of innovation.EXPERIMENTALLABA vibrant community: Opportunity Seekers (OS)and Opportunity Developers (OD)
AlertnessTeams of OSOpportunitypresentationOPPORTUNITYDISCOVERBUSINESS OPPORTUNITIES• Making and deriving meanings about relevance,practicability and profitability of the business ideaunder experimental investigation.CHOICE OF THE BUSINESS IDEA ANDGROUPING• Learning weather and how the same idea could beused in different fields.• Take advantage from the multiplier effect of sharing– “I am going to use my idea in my field of use, andyou are welcome to use it in your own field”.EXPERIMENTALLABA vibrant community: Opportunity Seekers (OS)and Opportunity Developers (OD)
Creative SpacesThe Idea Market open space, whereexperimenters (aspiring entrepreneurs andtheir mentors and coaches) can meet,communicate, share and exchange business ideas.A web meeting place between Researchand Entrepreneurship, filled withcutting-edge proposals and new ideas,and enriched with a collection ofcuriosity-driven websites.The Gym for Creative Experiments, a room withthe shape of a round square (“agora”), which is thespace where aspiring entrepreneurs and theircoaches & mentors make experiments and exercisetheir ability to process business ideas.
Creative SpacesThe Technology Showcase, a space fordemonstration projects in IT, Life Sciences,et cetera.The Amphitheatre, a formal learningspace for lectures, conferences, seminars,workshops.
There is no such thing as a failed experiment, onlyexperiments with unexpected outcomesRichard BuckminsterUS engineer and architect, 1895-1983It doesn’t matter how beautiful your theory is,it doesn’t matter how smart you are. If doesn’tagree with experiment, it’s wrongRichard FeynmanAmerican theoretical physicist, 1918-1988Finale