Launch180 Early adopters guide Incubator Case Study
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Launch180 Early adopters guide Incubator Case Study
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Our focus is on the latter two. To help start-ups achieve first revenue within 180 days, but perhaps even more importantly to spend substantially less money in their initial start-up phase.
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Launch180 Early adopters guide Incubator Case Study
- 1. a Launch180 Incubator & Case Study Program The Early Adopterâs Guide
- 2. Who We Are www.Launch180.com: - check us out, we are doing something amazing Partnerships and Bona Fides: - Humber College, Entrepreneur-in-Residence/Innovation Lab - University ofToronto Omnium Applied Innovation Course - Ontario/Toronto â economic policy / jobs (including CoralCEA provincial agency funded by Ministry of Research and Innovation) Private Consultancy: - Investment Banks, Retail Expertise,VC/Investment Funds, Start-ups, Fortune 50
- 3. DIFFERENCES IN INNOVATION Sustaining Innovations are, âThe Domain of incumbents.â Source: Retrieved from Google, 17 August 2013, search term âbusiness innovationâ, www.jeffdanley.com Disruptive Innovations, âCreate Brand New Markets.â
- 4. The Unexpected Success Failure Outside Event (Eureka Moment !) Incongruity in Reality Asymmetry in Experience Innovation on Process Need Bridging a Gap Change in Market Structure Demographics Changes in Perception Society Bites Back New Knowledge Competitive Advantage TO EXPLOIT INNOVATION FOR ADVANTAGE Sustainable Innovation Problem is Understood Existing Market (red ocean) Improves Performance Lowers Cost Incremental Change Customer is Known Market is Predictable Traditional Business Model Talk to Mainstream Market Research Disruptive Innovation V. Problem is Undefined New Market (blue ocean) Innovation is a dramatic game changer Customer doesnât know Market is Unpredictable Traditional Models Fail Talk to Early Adopters Customer Development
- 5. Source: Retrieved from Google, 15 August 2013, search term âwe want youâ, www.comicbooksyndicate.com/ (if you are awesome)
- 6. Early Adopter Defined Seeking a Competitive Advantage Think in Abstract Terms Comfortable with Ambiguity Prepared to take a Measured Risk with a safety net Able and Willing to run a Launch180 pilot Source: Retrieved from Google, 17 August 2013, search term âsteve jobsâ, www.forbes.com
- 7. Why We WantYou We harness and create Disruptive Innovation You want to capture majority market share Techies: âTry It !â Visionarie s: âGet Ahead!â Pragmatists: âStick with the Herdâ Conservati ves Skeptics 2.5% 13.5% 34% 34% 16%
- 8. Custom Solutions 1. Problems with Undefinable Answers 2. Define âCreative- Constraintsâ 3. Leverage our Solution Network 4. Implement a controlled Live Pilot within 180 days 5. Build Case Study, verify ROI, Next Steps (for competitive advantage)
- 9. What We Ask FromYou Define one or more problem sets with âundefined answersâ - Meaningful implications (mission critical) - Balance of constraints and creativity (we help you define) Commitment to Implement a Funded Pilot Project: - Controlled Risk, (minimum dollar commitment) - Reference-able, ROI/KPI Metrics + Case Study (we will create)
- 10. Corporate Innovation Is Broken Hereâs why: Fear of Failure (professional risk) Inability to Run Multiple âSmall Betsâ (organizational risk) High Resource Spend / Low Return (unacceptable ROI) Inflexible Innovation Process (lack of diversity) Group Think (closed, silo development) Source: Retrieved from Google, 17 August 2013, search term âheavyâ
- 11. What We Do ForYou Leverage and/or combine our network of: - Entrepreneurs, (paid pilot - define, pivot, learning) - Live Business School Case Studies, (paid pilot) - Government Programs, (matching funds) - Private Consultancy, (fee based) - Communities, (WiiFM* - quid pro quo) Source: Retrieved from Google, 17 August 2013, search term âleverageâ, www.stock-options-made- easy.com
- 12. *Whatâs In It For Me More good ideas - requires more ideas - Access to entrepreneurs, crowd sourced innovation and/or private consultancy - Same (poor) rate of innovation success notwithstanding great experience, resources, methodologies, curriculum etc. Innovation comes from combinatory and adjacent possibilities - Divergence, unique perspectives, plausible scenarios, fringes Method (to the Madness) - Networking, random connections, unique perspectives, patterns/association, user stories, extreme curiosity
- 13. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability Trialability Hurdle Rates Compatibility
- 14. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility to paraphrase Everett Rogers, âan innovation of the degree to which the new method or resource has advantages over the old one; major factor in determining whether the innovation is adopted.â
- 15. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility Innovation will happen - will you own it? Second Mover Loses Market Share Controlled Risk / High Reward / Cheap to Test Focus on âlearningsâ Source: Retrieved from Google, 16 August 2013, search term âopportunity costâ, www.financenet.org
- 16. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility ExpectedReturn Uncertainty of Success Hurdle Rate typical innovation projects Launch180 projectsSmall Pilots, Big Impact Manageable Investment Measurable Results Successful outcomes
- 17. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility âWe use Design Thinking to make... ...the Complex into Simple, Elegant Solutionsâ Source: Retrieved from Google, 17 August 2013, search term âislamic mosaicâ, knotyouraveragethread.blogspot.com
- 18. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility Focus on the Observable Need, âWhat the world needs is a dead mouse, not a better mousetrap. A great value proposition focuses on your customerâs pain. A real pain, not a nuisance...The world just wants a dead mouse. Show them the dead mouse.â
- 19. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility Employ Scientific Method Crowd Source Information Multiple Hypotheses Analysis and Reporting
- 20. What a pilot looks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility OUR Definition of Innovation, âSOMETHING YOU ARE REALLY GOOD AT (compatibility)+ SOMETHING YOU HAVE NEVER DONE OR NEVER THOUGHT ABOUT BEFORE (a Launch180 pilot)â
- 21. Thank You Source: Retrieved from Google, 31 May 2013, search term evolutionâ, www.suberbwallpapers.com
- 22. Notes ⢠Early Adopter to Start-Ups â CSR criteria ⢠Associations ⢠DMAC, Humber Alumni, others? ⢠Sponsors ⢠AmEx ⢠Partners ⢠OBI