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How to select innovation projects for an internal accelerator

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Best Practice Slam at the Corporate Incubator & Accelerator Summit in Berlin at Hub:raum about Corporate Accelerators @CoInAAC #2thecrazy1

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How to select innovation projects for an internal accelerator

  1. 1. How to select innovation projects for an internal accelerator Corporate Incubation & Acceleration Summit 1. & 2. December 2015 hub:raum Berlin
  2. 2. Admission Selection Version 1-4 | Page© 2015 itheca Group | Confidential 2 Differentiating accelerator formats Excubator Incubator Exit Graduation/ demo days pre-seed/ ideation seed early stage later stage 3 to 6 months cohort-based boot camp Accelerator program Internal Accelerator (Corporate) Accelerator Avoid early startup death†
  3. 3. Version 1-4 | Page© 2015 itheca Group | Confidential 3 Common aims of accelerators > Addresses outside entrepreneurs > Acceleration as a business » Equity in return for funding & support > Exploit potential for innovation – typically with an industry focus > Create growth and investment opportunities for corporates > Addresses inside intrapreneurs > Innovate strategically » staged funding & support > Exploit potential for (disruptive) innovation outside R&D > Create long term integration/ growth or spin-off opportunities Internal Accelerator Corporate Accelerator > Addresses outside entrepreneurs > Acceleration as a business » Equity in return for funding & support > Create investment opportunities for business angels and VCs Independent Accelerator
  4. 4. Version 1-4 | Page© 2015 itheca Group | Confidential 4 Innovation projects in the context of Igor Ansoff's matrixMarket Product MARKET DEVELOPMENT DIVERSIFICATION PRODUCT DEVELOPMENTMARKET PENETRATION NewExisting NewExisting increasing uncertainty increasinguncertainty
  5. 5. Source: Clayton M. Christensen, Michael E. Raynor - The Innovator's Solution - 2003 Version 1-4 | Page© 2015 itheca Group | Confidential 5 Innovation projects in the context of Clayton Christensen's disruption theory time measureofperformance sustaining strategy low-end disruption new-market disruption time measureofperformance non-consumption different measure of performance
  6. 6. Version 1-4 | Page© 2015 itheca Group | Confidential 6 Typical admission and selection process blueprint > Case review (prerequisites) > Interview of intrapreneur team Admission SelectionPreparation > Inspiration > Introduction to Lean Innovation > Sponsor introduction > Innovation coaching > Pitching > Case scoring > Portfolio review > Funding Ramp-up > Team onboarding > Office space, labs > Coaches, advisors > Corporate concierge NominationInnovation case Kick-off
  7. 7. Source: Steve Blank - The Four Steps to the Epiphany - 2003, 2013 / The Startup Owner's Manual – 2012; Ash Maurya – Running Lean - 2012 Version 1-4 | Page© 2015 itheca Group | Confidential 7 Examples of acceleration prerequisites in the context of Running Lean & Customer Development revenue Problem worth solving Product/ market fit Scale: profitable, scalable business model Scaleup » executeStartup » search Customer discovery Customer validation Customer creation Company building Pivot Problem/ solution fit Do we offer a widely accepted solution? Do we address an ubiquitous pain?
  8. 8. Version 1-4 | Page© 2015 itheca Group | Confidential 8 Selection critera for an internal accelerator's innovation projects > Type of innovation: efficiency, sustaining, disruptive > Customer segments aka «job to be done» > Markets (proximity, access) > Value proposition, offering > Technologies leveraged Strategic fit (innovation goals, scope) > Product (ubiquitous pws, feasibility, scalability) > Customer (path to customer, out-/ inbound channels) > Market (acceptable solution, pricing, alternatives) > Team (experience, attitude, commitment, skills, lead) Risk (uncertainty) > User value > Market size, market potential, market saturation > Price sensitivity, price stability > Margin, scalability > (Unfair) competitive advantage Profit potential (profitability) > estimated size of investment until p/m fit > magnitude of capital requirements after p/m fit Financial exposure (Size of investment)
  9. 9. profit potential strategicfit Version 1-4 | Page© 2015 itheca Group | Confidential 9 Portfolio view of an internal accelerator's innovation projects o Diameter – financial exposure  Color - uncertainty 7 4 3 2 1 6 5 8 L H
  10. 10. Version 1-4 | Page© 2015 itheca Group | Confidential 10 Corporate Startup Framework to prepare and lead senior corporate management Organizational Model & Governance Approach & Culture Funding Corporate Startup Access & Resourcing
  11. 11. Pascal A. Miserez Senior Partner & CEO > itheca Group > Badenerstrasse 21, CH-8004 Zürich > vox +4161 385 3838 > fax +4161 383 0100 > mob +4179 3204123 > www.itheca.com > pascal.miserez@itheca.com Version 1-4 | Page© 2015 itheca Group | Confidential 11 Contact information

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