This presentation provides an overview of the elements that comprise the entrepreneurial ecosystem and shares the best practices for new product development. It also provides measures that can be used to evaluate the effectiveness of the entrepreneurial ecosystem and proposes a world class solution that can be used to increase the success rate of entrepreneurial ventures.
Open Innovation: an approach - speech miac 2019Antonio Mosca
Why Open Innovation is so important in the context of Digital Innovation and Transformation, in particular due to Industry 4.0 challenges. This presentation was held by Antonio Mosca (Head of Digital Transformation at Fabio Perini spa) during MIAC 2019 event. It presents an overarching approach adopted by fabio Perini SpA in the Tissue industry.
This presentation provides an overview of the elements that comprise the entrepreneurial ecosystem and shares the best practices for new product development. It also provides measures that can be used to evaluate the effectiveness of the entrepreneurial ecosystem and proposes a world class solution that can be used to increase the success rate of entrepreneurial ventures.
Open Innovation: an approach - speech miac 2019Antonio Mosca
Why Open Innovation is so important in the context of Digital Innovation and Transformation, in particular due to Industry 4.0 challenges. This presentation was held by Antonio Mosca (Head of Digital Transformation at Fabio Perini spa) during MIAC 2019 event. It presents an overarching approach adopted by fabio Perini SpA in the Tissue industry.
A Benchmark for Open Innovation: How Good is Your Company?Stefan Lindegaard
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190918 Tesseract: le dimensioni del finanziamento all’innovazione, ovvero: qu...Daniele Pes
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Evento aperto c/o MIP - Business School del Politecnico di Milano ore 19.00
Quale è lo stato del finanziamento all’innovazione per i neo-imprenditori in Italia e all’estero?
Quale il tipo di rischio che i finanziatori desiderano e sono pronti a correre?
Quali sono gli obiettivi che un’impresa innovativa deve preporsi per potersi confrontare con un investitore istituzionale?
Ne parliamo al MIP il 18 Settembre, con Paolo Pescetto, CEO di Arkios e partner di Innovative RFK.
Sarà presentata la nuova edizione del percorso di accelerazione Gymnasium.
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A presentation of our bachelor thesis conducted at Chalmers University of Technology on the subject of accelerators. Learn more at acceleratorstudy.com.
Open Innovation And strategy includes the Long term growth of the company in which industries/technologies a firm wants to be active – new business development
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mobilskole AS
Presentation during the Gründerskolen Alumni event on September 12 2009. See grunderskolenalumni.wordpress.com.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsnes, CapGemini Norway
Never Miss An Opportunity: How ISO 56000 Enables an Innovative OrganizationShelley Reece
One of the challenges for innovators is how to integrate innovation with Quality Management (QMS) and balance the culture of creativity with execution. Join Peter Merrill as he walks us through the newly published ISO 56000 series on Innovation Management, specifically the Guidance Standard ISO 56002 that discusses how to establish an Innovation Management System (IMS). He will take you through the elements of innovation management from strategy development, through risk assessment to solution delivery.
Karl Lapan, CEO of The Northeast Indiana Innovation Center, discusses the role of innovation in the marketplace, and demonstrates that the path to innovation is rarely a straight line.
Talk given at Purdue University Fort Wayne on February 17, 2020
A deep dive into this conference agenda shows its position within a much larger scope of innovation knowledge. The larger scope is within the capability of the attendee to independently pursue.
A Benchmark for Open Innovation: How Good is Your Company?Stefan Lindegaard
In this presentation, I share my benchmark views on how open innovation in general has been adapted over the years. The benchmark is based on my free e-book, 7 Steps for Open Innovation.
190918 Tesseract: le dimensioni del finanziamento all’innovazione, ovvero: qu...Daniele Pes
Tesseract: le dimensioni del finanziamento all’innovazione, ovvero: quale la strada verso il round A?
Evento aperto c/o MIP - Business School del Politecnico di Milano ore 19.00
Quale è lo stato del finanziamento all’innovazione per i neo-imprenditori in Italia e all’estero?
Quale il tipo di rischio che i finanziatori desiderano e sono pronti a correre?
Quali sono gli obiettivi che un’impresa innovativa deve preporsi per potersi confrontare con un investitore istituzionale?
Ne parliamo al MIP il 18 Settembre, con Paolo Pescetto, CEO di Arkios e partner di Innovative RFK.
Sarà presentata la nuova edizione del percorso di accelerazione Gymnasium.
Accelerating Success: A Study of Seed AcceleratorsGustav Larsson
A presentation of our bachelor thesis conducted at Chalmers University of Technology on the subject of accelerators. Learn more at acceleratorstudy.com.
Open Innovation And strategy includes the Long term growth of the company in which industries/technologies a firm wants to be active – new business development
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mobilskole AS
Presentation during the Gründerskolen Alumni event on September 12 2009. See grunderskolenalumni.wordpress.com.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsnes, CapGemini Norway
Never Miss An Opportunity: How ISO 56000 Enables an Innovative OrganizationShelley Reece
One of the challenges for innovators is how to integrate innovation with Quality Management (QMS) and balance the culture of creativity with execution. Join Peter Merrill as he walks us through the newly published ISO 56000 series on Innovation Management, specifically the Guidance Standard ISO 56002 that discusses how to establish an Innovation Management System (IMS). He will take you through the elements of innovation management from strategy development, through risk assessment to solution delivery.
Karl Lapan, CEO of The Northeast Indiana Innovation Center, discusses the role of innovation in the marketplace, and demonstrates that the path to innovation is rarely a straight line.
Talk given at Purdue University Fort Wayne on February 17, 2020
A deep dive into this conference agenda shows its position within a much larger scope of innovation knowledge. The larger scope is within the capability of the attendee to independently pursue.
Produced Water Handling System UpgradeBrian Thomas
General description of the application is discussed, along with IES performance of all engineering, design, programming, control panel fabrication, electrical construction, and construction of an electrical equipment building for this produced water handling system upgrade. Project consisted of the addition of a water separation and induced static flotation vessels, and eight 450 HP, 4,000 gpm water transfer pumps controlled by VFDs. Electrical and control system consisted of dual 12 kV services, a 12 kV Automatic Transfer Switch, 12 kV transformers, 480 V switch gear with manual transfer scheme, ControlLogix PAC’s and RIO control panels communicating using Ethernet/IP over a fiber DLR network, a Wonderware/ArchestrA SCADA system.
CFSGAM Presentation - Yarra Valley Water Breakfast seriesNEXTDC
This case studies describes how Colonial First State Global Asset Managet turned the Grand Plaza Shopping Centre in Browns Plains QLD into the first shopping centre in the country to achieve a NABERS Energy and Water rating.
2014.01.30 Innovation overview by Glenn WintrichNUI Galway
Glenn Wintrich, Innovation Leader at Dell, presented this seminar entitled Innovation Overview on 30th January 2014 at the Whitaker Institute, NUI Galway.
The Canadian Trade Commissioner Service manages the Canadian Technology Accelerators (CTA) in New York, San Francisco & Silicon Valley, Boston, and Philadelphia, global clusters for technology and entrepreneurship. This initiative provides those Canadian start-ups in information and communication technology, digital and social media, gaming, clean technologies, and life sciences with access to unique resources and contacts that foster their international growth.
The CTAs make available free office space for three to six months where physical offices are located within existing business incubators. The CTAs help you to refine your business model, collect competitive intelligence, pursue key clients, access financing sources, and engage strategic partners.
Innovation Funding for Growth-Oriented Companies - Oct 24, 2014Boast Capital
The Canadian Government provides over $7B in innovation funding each year and is considered one of the most generous countries for funding research, innovation, and experimentation.
Learn more about a few of Canada's innovation funding programs:
-Scientific Research & Experimental Development Tax Credit (SR&ED), slides presented by James Suk, Boast Capital
-Small Business Grants, slides presented by Stephanie Sang, Granted Consulting
-Sustainable Development Technology Canada (SDTC) slides presented by Paul Austin, Regional Director of Partnerships
Getting elephants to dance - Wie etablierte Unternehmen erfolgreiche Accelera...Corporate Startup Summit
Das Duo Andreas Harting und Oliver Kempkens wird aufzeigen, warum es neben einigen positiven Beispielen von Corporate Accelerators auch schlecht funktionierende Projekte gibt, die oftmals auch an kulturellen Barrieren zwischen etablierten Unternehmen und jungen Startups scheitern. Weiterhin gehen sie darauf ein, wie etablierte Unternehmen sich mit „Co-Creation“ die Innovationskraft der Startups zu nutze machen und Talente an sich binden können.
innogy Consulting's Innovation Strategy for Utilitiesinnogy Consulting
Innovation is an unquestionable profit driver – it’s also unquestionably complex. Here’s the deck with our most frequent innovation strategies for utilities (and our best implementation practices for seeing them through.)
If you are like most firms you’ve designed your service offerings around accounting, tax, audit,
litigation support, etc. – the traditional accounting and tax firm services and then organized your
firm to serve clients of all business types and industries as long as they fit under the service
offerings. Learn why this model may no longer be appropriate to serve today’s business clients.
Review case studies of firms that have made the change to a vertical focus first and then aligned
their service offerings to meet the needs of a vertical niche.
Digital transformation: Envision the futureMicrosoft
Hvordan forankrer virksomheder digital transformation strategisk? Hvilke forretningseffekter forfølger og prioriterer de?
Hvilke udfordringer møder de, og hvordan adresserer de dem i praksis? Qvartz har gennemført en undersøgelse om digital transformation blandt store virksomheder i Danmark og leverer et overblik over konklusionerne.
v/Jens Friis Hjortegaard, Partner, Qvartz
Grundfos New Business journey_Innovation Roundtable presentation_2014
1. Grundfos' New Business Creation Journey and Lessons Learned
Thorbjørn Machholm
Group Director, Business Development and New Business
Grundfos Holding A/S
+45 2125 5832
2. Facts
• Founded in 1945 by Poul Due Jensen
• Global sales of EUR 3 billion
• 85 companies in 45 countries
• 18.000 employees worldwide
• Ownership a family Foundation
• EBIT 8,3% of sales
• R&D 6% of sales
• The world’s largest pump company
• R&D, Manufacturing, Sales & Service
Grundfos Group
Markets
Technologies
Pumps, Motors, Drives, Controls, Sensor + Sub-systems
A company with strong values and
an ownership focusing on long
term growth through innovation…
2
3. Innovation paradigms and timeline…..
1995 2005 20151985
”Nerd” ” Team worker” ”Specialist &
Entrepreneur”
”Holistic
Intrapreneur”
Partnerships
Business Models
Open Innovation
Technology driven
3
5. Urbanization
and Mega Cities
CO2 and climate changes
Population growth
Growing middle class
New technologies
Expanding and
emerging markets
Grundfos challenges and opportunities – NBC Drivers
the Growth agenda, the Green agenda, the Technology agenda
5
6. Growth ambitions 2011-2015… and beyond
How to make breakthrough innovation within a large, old and rigid organization
as a result of a dedicated effort – and not by coincidence ?
6
7. Evolutionary Innovation
• Building on and out from Core
• Business Models
• Financial Models
• Strategic Partnerships
Breakthrough Innovation
Projects that promised at least one of and preferably more than the following:
1. New to the world performance features
2. Significant (5-10x) improvement in known features
3. Significant (30-50%) reduction in cost
2004 - 2010
2008 - 2013
7
8. Corporate Venture Building a New Business capability
Innovation Intent Capability embedded in core organization
• 2004 Grundfos New Business A/S
• 2005 – 2010 Building up capabilities
Old paradigm New paradigm: Innovation Intent
It is more expensive than we thought !
It takes longer than what we thought !
… and we want this to be an embedded competency
• 2008
• Migration + sustaining capabilities
• New Governance
Innovation platforms
New innovation platforms initiated in 2008
• Future Home Living – China
• Zero Impact Commercial Buildings
• Rethink Decentralized Water Treatment
R.I.P 2010
R.I.P 2012
R.I.P 2013
8
9. The Journey: Cycles of evolution and… Metamorphosis
Old paradigm
• Opportunistic new business approach far from Core
• Venture Capital inspired model
• Building companies
New paradigm
• Strategically driven innovation platforms closer to Core
• Governance structure to enable embedding capabilities
• Building capabilities and competencies
Strategic Intent
• Strategy rationalization based on capacity,
Business Segment priorities + Board priorities
• New Business creation integrated with Core
• Capabilities and competences embedded in Core
2004 - 2010
2008 - 2013
2014
9
10. Direction forward and next design change – 1st step Frontloading
• Enables us to handle more complex projects… Lessons learned from the previous cycles of evolution (TMOR)
• Make PDP projects more predictable – and less likely to fall pray to technological arrogancy!
Ensures that Technical, Market and Organizational uncertainties are considered before we are ready for PD
• Ensures that new innovations are continuously fed into PD
Innovation profile created and decided upon prior to PD
Inclusion and demonstration of new technology
Low
Medium
High
Technical Market Organizational
Product Development Process
Technology
project
Frontloading
project
Levelofuncertainty
Resource
•
10
12. The need for transition
120
100
80
60
40
20
0
20122010200820062004200220001998
The slope of the
curve is becoming
flat.
So what’s next?
100%
70%
62%
23% 22% 18%
Yearlyenergyconsumption
12
13. Transition and repositioning
Strategic layers of value creation
Physical
Instrumented
Interconnected
Intelligent
Strategic
Business Models
CAPEX OPEX
Capabilities & Competences
Acqusitions & Strategic Partnerships
$
$$$
13
14. Learnings and key insights
• Visible top management/CEO commitment and strong leadership is paramount to the success of new
business creation and it defines the live or die equation of the new business innovation activities.
• You’ve got to find a way to manage the (constant) ”battle” over resources and funds between Core and
New Business to enable new business creation to grow and mature
• Contrary to what we initially thought, success is defined more by Organizational and Ressource
uncertanties than Technology and Market uncertainties.
• NBC takes time – and this is in opposition to Core’s expectations and KPI requirements. We need to run
our activities with a different set of KPIs and ROI requirements.
• NBC has a lot do to with building new competencies – new competencies must be embedded inside your
organization. We reinvented our ”modus operandi” but were still facing O + R Uncertainty!
• NBC, the D-I-A methodology and Uncertainty Management are generally accepted and embedded
concepts today.
• Innovation Management is really all about people.
• Metamorphosis went from Explosion/Expansion (New Business) to Implosion/Re-focus (Innovation
Platforms) and now new business creation around and embedded in Core.
14
15. New Business Creation
Appendix
• NBC # 1 - Build a culture for NBC and innovation
• NBC # 2 - Learn how to deal intelligently with uncertainty
• NBC # 3 - Learn how to recognize opportunities
• Critical NBC questions
• The Innovation Piano
• Opportunity Scouting
• Opportunity Engine and DIA Process Support
• D-I-A Model and Roles for Radical/Evolutionary Innovation
• NBC Incubation Methodology for Breakthrough / Evolutionary Innovation
• NBC Models, Tools and Checklists
16. NBC # 1 Condition
Build a culture for NBC and innovation
16
17. NBC # 2 Condition
Learn how to deal intelligently with uncertainty
17
18. NBC # 3 Condition
Learn how to recognize opportunities
18
19. Critical NBC questions
• What is your organizational commitment to or capacity for innovation? Do you have an innovation
strategy in place? Where are you in terms of building a capability for innovation?
• What is your definition of innovation? Do you have a common language and cultural understanding
across the company?
• What is the mandate for innovation in your company compared with product development?
• Have you defined and clearly articulated your strategic intent (versus current strategy) for long term
growth (5 to 10+ years)?
• Do you have the right structure or group in place for innovation to support your growth objectives? Is the
environment supportive of innovation (entrepreneurial versus operations culture, learning oriented
mindset and clarity of roles and responsibilities)?
• Do you have specific innovation processes, tools, decision-making criteria and metrics for success for
managing higher uncertainty new business opportunities, which go beyond product development phase
gates?
• Do you have a plan for developing and attracting innovation talent? What have you accomplished with
your innovation objectives? What are the challenges you face that are getting in the way of achieving
your growth objectives?
19
21. Partners
Networks and
Events
Internally or
externally driven
Universities
and Research
Institutes
“Something that can
generate enough
opportunitiesto
continuously feed the
New Business
Creation portfolio”
“Something that can
generate enough
opportunitiesto
continuously feed the
New Business
Creation portfolio”
Articles, reports
and conferences
Employees
New Inventions
•Seeking Funding
•Seeking Corporation
•New Technology
•Partnership
•Research
•Knowledge
•Data
•Concept experimentations
•Business Partners
•Strategic Trends
•Emerging Broken
Processes
•Professional Networks
•Emerging Broken Processes
•Ideation
•Grundfos Challenge et al
•Activate Creativity Beyond
Job Responsibility
•iShare
•Ideation
•Trends
•Inspiration
•Corporate Foresight
•Technology Scan/Plan
•Business Strategies
•Market Relations
•Subject Matter Experts
Thought Leaders
•Validation
•Trends
•Drivers
•Barriers
External
Inventors
Grundfos
Organization
Opportunity Scouting
21
22. Due Diligence and Acquisition Candidates
Opportunity
Engine
TransitionAcceleration
Business
Plan
Incubation
Business
Proposal
Discovery
Business
Concept
Opportunity Engine and DIA Process Support
22
23. Discovery Incubation Acceleration Operations
CompanyAreasof
Focus
Project Maturity Timeline
Transition
Management
Organization and
Resource
Requirements
D-I-A Model and Roles for Radical/Evolutionary Innovation
23
24. Toolbox
• Learning Plan
• Incubation
Questions
• Uncertainty
Management
Checklist
• Voice of the Market
/ Technology
• IP Strategy
• Partnering Strategy
• Partner Profiles
• Value Pitch
Late Incubation
Transition Preparation
Business
Implementation
Market
Launch or
Acceleration
Mid-Incubation
Multiple
Experiments
Early Incubation
Concept
Framing
Discovery
Business
Concept
Proceed or Sunset
Decision Junctures
=
Toolbox
• Learning Loops
• Voice of the Market
/ Technology
• IP Landscape
Detail
• Thought Leader
Identification
• Strategy
Framework
• Thought Leader
Influence (techies /
lead stakeholders)
• Transition Strategy
• Value Pitch
Toolbox
• Go-to-Market
strategy
• Acceleration
Questions
• Business Plan
• Thought Leader
Influence (lead
customers)
Toolbox
• Learning Loops
• 9-point Strategy
• Value Pitch
• Business Model
Creation
• Market Entry Strategy
• Lead User
Identification
• IP Plan
• Thought Leader
Influence (visionaries /
lead users)
• Transition Plan
• Business Proposal
Incubation
Radical Innovation Group
Product Genesis
Chasm Institute
Others
New Business Creation Incubation Methodology for
Breakthrough / Evolutionary Innovation
24
25. • D-I-A Process and methodology
• Opportunity Scan and Discovery
• Opportunity Recognition Tool
• Opportunity Placement Tool
• Portfolio Evaluation Tool
• Technology Readiness Tool
• Market Readiness Tool
• Transition Readiness Tool
• Uncertainty Management Checklist
• Learning Plan / Learning Loops
• Value Pitch / Value Proposition
• Business Model Creation
• Chasm Institute Tools
• 9-Point Strategy
Joanne Hyland
President and Founding Partner
rInnovation Group
www.rinnovationgroup.com
joanne@radicalinnovation.com
Jeff Hovis
Managing Principal
Product Genesis
www.productgenesis.com
jeff_hovis@productgenesis.com
Mark Cavendar
Managing Director and Founder
Chasm Institute
www.chasminstitute.com
mcavender@chasminstitute.com
NBC Models, Tools and Checklists
25
26. New Business Creation is a multi purpose game
I. Creating new space for long term growth – pre-empting the future
II. Creating a new organizational structure to allow New Business projects to be successful
III. Experimenting with and developing towards a future organizational paradigm
IV. Creating new career paths for Grundfos managers and building new capabilities and
competencies
V. Sound investment of Grundfos capital
VI. Asset protection, asset utilization and asset development – and “keeping the factory full
when production moves out”.
VII. Developing Grundfos’ public image as an innovative and attractive company
26