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Launch180 Early adopters guide Incubator Case Study
Launch180 is an incubator aiming to create disruptive innovations by collaborating with early adopters and leveraging a network of entrepreneurs, government programs, and private consultancy. The program focuses on identifying undefined problem sets to pilot innovative solutions, emphasizing manageable risks and measurable outcomes. It highlights the differences between sustaining and disruptive innovations while addressing common corporate innovation challenges such as fear of failure and inflexible processes.
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Launch180 Early adopters guide Incubator Case Study
- 1. a Launch180 Incubator& Case Study Program The Early Adopter’s 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 – 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, “TheDomain of incumbents.” Source: Retrieved from Google, 17 August 2013, search term “business innovation”, www.jeffdanley.com Disruptive Innovations, “Create Brand New Markets.”
- 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 doesn’t know Market is Unpredictable Traditional Models Fail Talk to Early Adopters Customer Development
- 5. Source: Retrieved fromGoogle, 15 August 2013, search term “we want you”, www.comicbooksyndicate.com/ (if you are awesome)
- 6. Early Adopter Defined Seekinga 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 “steve jobs”, www.forbes.com
- 7. Why We WantYou Weharness and create Disruptive Innovation You want to capture majority market share Techies: “Try It !” Visionarie s: “Get Ahead!” Pragmatists: “Stick with the Herd” Conservati ves Skeptics 2.5% 13.5% 34% 34% 16%
- 8. Custom Solutions 1. Problemswith Undefinable Answers 2. Define “Creative- Constraints” 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 AskFromYou Define one or more problem sets with “undefined answers” - 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 IsBroken Here’s why: Fear of Failure (professional risk) Inability to Run Multiple “Small Bets” (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 “heavy”
- 11. What We DoForYou 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 “leverage”, www.stock-options-made- easy.com
- 12. *What’s In ItFor 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 pilotlooks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability Trialability Hurdle Rates Compatibility
- 14. What a pilotlooks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility to paraphrase Everett Rogers, “an 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.”
- 15. What a pilotlooks 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 “learnings” Source: Retrieved from Google, 16 August 2013, search term “opportunity cost”, www.financenet.org
- 16. What a pilotlooks 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 pilotlooks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility “We use Design Thinking to make... ...the Complex into Simple, Elegant Solutions” Source: Retrieved from Google, 17 August 2013, search term “islamic mosaic”, knotyouraveragethread.blogspot.com
- 18. What a pilotlooks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility Focus on the Observable Need, “What the world needs is a dead mouse, not a better mousetrap. A great value proposition focuses on your customer’s pain. A real pain, not a nuisance...The world just wants a dead mouse. Show them the dead mouse.”
- 19. What a pilotlooks 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 pilotlooks like Relative Advantage Opportunity Cost Complexity & Simplicity Observability TrialabilityHurdle Rates Compatibility OUR Definition of Innovation, “SOMETHING YOU ARE REALLY GOOD AT (compatibility)+ SOMETHING YOU HAVE NEVER DONE OR NEVER THOUGHT ABOUT BEFORE (a Launch180 pilot)”
- 21. Thank You Source: Retrieved fromGoogle, 31 May 2013, search term evolution”, www.suberbwallpapers.com
- 22. Notes • Early Adopterto Start-Ups – CSR criteria • Associations • DMAC, Humber Alumni, others? • Sponsors • AmEx • Partners • OBI