Lean Enterprise: How Big Companies can Innovate like Startups
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Outline of Talk: Big companies are disrupted by startups Startups are innovating fast using agile methodologies Southeast Asia has opportunities and yet interesting challenges How big companies can learn from startups Different models of innovation in Singapore How a corporate individual can innovate in a big company
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Lean Enterprise: How Big Companies can Innovate like Startups
- 1. LEAN ENTERPRISE HOW BIG COMPANIES CAN INNOVATE LIKE STARTUPS ADRIAN TAN @iadriantan iadriantan@gmail.com sg.linkedin/in/iadriantan
- 2. Introduction ● Entrepreneur-in-Residence ● 5 Years in Technology ● 6 Years in Education ● Founded 2 startups, 1 failed. ● Coach to hundreds of startups in Asia ● Founder Institute/ JFDI Alumni
- 4. Outline ● Big companies are disrupted by startups ● Startups are innovating fast using agile methodologies ● Southeast Asia has opportunities and yet interesting challenges ● How big companies can learn from startups ● Different models of innovation in Singapore ● How a corporate individual can innovate in a big company
- 5. DISRUPTION
- 7. DISRUPTION
- 8. Which one of these companies are worth $70 Billion?
- 9. VS
- 10. WHY ARE STARTUPS IMPORTANT? Responsible for all NET job Creation in the U.S. http://www.kauffman.org/what-we-do/resources/entrepreneurship-policy-digest/the-importance-of-young-firms-for-economic-growth
- 11. Where are they now?
- 12. Startup Tools
- 14. Big Company Centralized Research & Development WATERFALL DEVELOPMENT
- 16. Southeast Asia Opportunities & Challenges
- 18. Source: OECD
- 20. Disruption
- 21. How can we innovate new products and services for a diverse Southeast Asia?
- 27. Research Centre Business Unit A Business Unit B Business Unit C Which Business Unit? Who is the customer? New Product/Service already defined through traditional BU Skunkworks style Away from Customer Lack of Feedback Forms Steering Committee 1 year 1 year 20 signatures later Sunk Cost Bias Cannot fire team
- 28. How Big Companies can Innovate like Startups
- 30. Startups Big Companies Fresh ideas Rejuvenate corporate culture Scout and Test new technologies COLLABORATE Gain market knowledge Discover industry paint points Economies of Scale Gain distribution
- 31. Startups Big Companies Why should I work with those inexperienced young kids in t-shirts? They don’t even make money? How do they know the decision they are making is correct? THERE ARE MISTAKES ON THEIR POWERPOINT SLIDES!!!! COLLABORATE Why will I want to help the big fat ugly enemy? Why should they help me? They are so slow in making decisions! They are spending too much time on powerpoint slides! CHALLENGES
- 32. PEOPLE PROCESS PRODUCT TYPES OF COMPANIES Awareness of Disruption E.g. TELCOS CAR COMPANIESMEDIA BANKS *Disclaimer: Adrian’s Working Slide Hackathons Innovation Labs Corporate Accelerator Corporate Venturing (Investment) Acqui-Hiring Space Sharing with Startups Partnerships
- 34. Source: Nesta.org.uk ,ff.co, StartupEuropePartnership.eu
- 38. ● Media Investment arm ● Partners for B2C growth companies, especially in the consumer goods, ● Offers TV advertising as platform ● 25K EUR Funding ● 500K EUR of media volume on TV
- 41. BANKS Buying a bank such as Standard Chartered “is fighting yesterday’s battle.” “I think the battleground right now is Alibaba and digital,” he said. DBS CEO, Piyush Gupta
- 43. And Others...
- 44. Innovate as a Corporate Individual
- 45. INNOVATION PEOPLE PROCESS PRODUCT ● Creating Buy-In ○ Senior management ○ Middle Managers ● Emotional appeal beyond powerpoint slides ○ Accelerator visits, Start-up events ● Minimal Viable Process ○ Getting small wins ● Intrapreneurship project ● Mentoring a startup ● External Acceleration