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Opportunity Space at the innogy innovation hub

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How to know what to focus on in radical innovation?

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Opportunity Space at the innogy innovation hub

  1. 1. Opportunity Spaces – How to know what to focus on in radical innovation? Nicole Reinhold – innogy Innovation Hub Heinrich Schwarz – innogy Innovation Hub & Schwarz Innovation ISPIM Vienna, June 2017
  2. 2. Between March and October 2016, 88 new corporate innovation labs opened their doors globally. Most of them focus on digital innovation and on testing new business models. (Capgemini, 2017) These are rarely about incremental innovation, rather they attempt to pursue more disruptive innovation. "Companies must give managers of disruptive innovation free rein to realize the technology's full potential - even if it means ultimately killing the mainstream business.” (Bower / Christensen, 1995) Transformational, Disruptive, Faster – Expectations of Corporate Innovation are Changing © Copyright innogy SE / innogy Innovation Hub
  3. 3. Business Modell Innovation The innogy Innovation Hub – a Startup Centric Innovation Process GOAL: create new revenue streams Disruptive & Expo- nential Work with Startups Beyond Energy innogy In the past: design thinking process Now: startup centric process Reason: speed & commercial potential CURRENT INNOVATION PROCESS 1. Define opportunity space 2. Scout & select startups 3. Evaluate startups & build new business 4. Grow new com- panies © Copyright innogy SE / innogy Innovation Hub
  4. 4. 4 What is an Opportunity Space? Many different names out there … Opportunity Spaces become Crucial for Startup Centric Innovation Focus Area Growth Area Search Field Innovation Field Opportunity Mapping Why important? INTERNAL: give strategic direction and help to align and guide purpose and scope EXTERNAL: attract startups, talent and partners via storytelling Urban FarmingSmart Buildings e - Mobility Personal Data © Copyright innogy SE / innogy Innovation Hub
  5. 5. 4. COMPANY SPACE Our Approach – Opportunity Spaces are the Match of 4 Spaces (1) Description of problem worth solving What can we solve for whom ? (2) Outline of possible solution space Can we deliver unique solutions ? (3) Why it is worth our while How do we make money with it ? (4) Why innogy What can innogy bring to the table ? 1. PROBLEM SPACE 2. SOLUTION SPACE 3. BUSINES S SPACE Opp. Space © Copyright innogy SE / innogy Innovation Hub
  6. 6. Example 1: Opportunity Space 'Personal Data' (selection) 4. COMPANY SPACE [Problem space]: Consumers with a digital life style not getting the full benefits of their personal data while privacy concerns are growing. 1 PROBLEM SPACE 2. SOLUTION SPACE [Solution space]: Looking for partners (startups) with solutions/ business models that put the consumer back in control over their personal data and enable them to get clear benefits from their data, - e.g. through monetizing of their personal data or - personalized services and advice. “My data in my hands.” 3. BUSINESS SPACE 81% of Europeans feel that they do NOT have complete control over their personal data online. Eurobarometer, 2015. OS
  7. 7. Example 2: Opportunity Space 'Urban Farming' – no Problem - Solution Match 4. COMPANY SPACE 1 PROBLEM SPACE 2. SOLUTION SPACE 3. BUSINESS SPACE PILOT PROJECTS In show rooms, restaurants, supermarkets URBAN GROW SPACES Infarm, GrowX, Urban Fresh Foods LIFESTYLE PRODUCTS Click&Grow, Freshsquare, Sprouts.io, Ikea, Grove PRIVATE FOOD PRODUCTION Agrilution, Urban Cultivator Urbanisten - Aquaponic FOODPRODUCTION FOODCULTURE BUSINESS CONSUMERS NO BUSINESS-CASE SCALABILITY? 'TOYS ONLY' HIGH COST LOW PRODUCTIVITY NO PROBLEM – SOLUTION MATCH BECAUSE: serious in-home private food production is driven by natural, organic and DYI motivation, while solutions with business opportunity are technical and digital. Empty SPACE © Copyright innogy SE / innogy Innovation Hub
  8. 8. © Copyright innogy SE / innogy Innovation Hub 8 Opportunity Space Process – Spiraling Iterations Challenges in building opportunity spaces: • Should be lean & fast process but needs to be grounded and evidence- based. • All four spaces are interdependent but we need to keep a clear user focus • Right granularity and level of detail of OS description hard to determine. How we do it: • Instead of linear process starting simultaneously from all four angels/ corners. • In one brainstrom session a first version can be formulated as hypothesis – then explored, deepened and validated. • Further Iterations make it tighter at each round.
  9. 9. © Copyright innogy SE / innogy Innovation Hub 9 A Process not without Challenges In the Good Old Days: + step by step process + clear time and resource + clear results and deliveries Spiral approach: + going in iterations + continuously input from multiple players + speedy & multi-sided results Let’s make sure we spiral up rather than go round in circles! •
  10. 10. © Copyright innogy SE / innogy Innovation Hub 10 Outlook and discussion 1. How do Opportunity Space guide your daily work? 2. Should opportunity spaces have strong future driven vision? 3. Do we need a standard format for Opps Spaces?
  11. 11. Contact partners innogy SE – innogy Innovation Hub · Presentation Guidelines 11 Nicole Reinhold User Insights Consultant T +4915254596828 Nicole.reinhold@innogy.com Heinrich Schwarz Innovation Consultant T +49151 5802 9355 Heinrich.schwarz.extern@innogy.com

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