The document presents a four-stage innovation lifecycle model for mature companies to improve their product innovation speed and strategic development. It is based on a study of startup innovation processes from literature and case studies in multiple countries. The model aims to help mature companies utilize lessons from startups by applying concepts like minimum viable products and changing their business models and strategies to define goals and roadmaps for the future. Feedback is sought on the relevance of findings to companies over five years old, recommendations for other frameworks to accelerate time to market, and on the proposed acceleration model and an online self-test tool.

1. Four Stages of Startup
Innovation Lifecycle for
Mature Companies
ISPIM, Toronto, 19.-22. March 2017
Jukka Hemilä
VTT Technical Research Centre of Finland Ltd

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Research Context & Objectives
Research question: how to improve mature companies’ product
innovation lifecycle in traditional product based businesses?
Study is based on the state-of-the-art of innovation processes in
startups from the literature review and on the empirical case
data evidence from the multiple case studies, mostly in Finland
but also in Spain, Romania and Belgium.
The outcome is a four-stage innovation lifecycle model for
mature companies improving their product innovation speed and
strategic development as well the daily operations by utilizing
lessons learned from startups.

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Current Status
The concept of MVP could easily been applied in mature companies
Business model should be changed, when improving the
competitiveness.
Business strategy should define the goals and roadmap for the future.
This study closes the gap between research and practice in cases of
SMEs innovation processes and especially time to market in product
innovations.

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Areas for feedback & development
1. How you see the innovation activity and capability, especially
time to market in startups and SMEs? Are the findings in this
study relevant for companies more than five years old?
2. Can you recommend some other frameworks or methods for
accelerating time to market in SMEs
3. Any feedback on proposed acceleration model?
4. Try our online tool, give feedback are the questions relevant
and any feedback about the self-test? Self-test available:
http://selftest.accelerateproject.eu/