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Effective Innovation Canvas

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This is the fifth version of Effective Innovation Canvas inspired by the feedback from John Paul Karijo and Katarina Galova. The Effective Innovation Canvas tries to define the problem, express effective Solution, describe the Capacity of the Team and provide information on how progress will be tracked in Visible Learning. Every part is divided again into four in a self-similar pattern.

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Effective Innovation Canvas

  1. 1. EFFECTIVE INNOVATION CANVAS Startup: Product/Service: Team: Version: PROBLEM SOLUTION Definition: Importance: Massive Transformational Purpose: Innovation: Solvability& Neglect: People/Audience: Theoryof change: User story: CAPACITY VISIBLE LEARNING Mindset/motivation: Skills andknowledge: KeyMetrics: Traction: Team Culture: Growth: Cost Structure: Revenue: Explanation: PROBLEM Definition:Define a problem you are passionateaboutas a team. For example: unemployment - young people lack skills and fundingto starta business Importance: How important is the problem? For example: Youth unemployment is around 30% (7m people), 5% of population works in the formal sector. Solvability and Neglect: How solvableand neglected is the problem? Fictional example:We estimate in 2 years we could solve50% of the problem with 2 million dollars. The problem is partially neglected,there are companies likeSamaSource,Impact Investors,startup hubs,state funds for youth entrepreneurship. But in countrysideand small towns most of this infrastructureis underdeveloped or missing.We believe these arethe bottlenecks: high priceof sta rtinga company and high priceof livingin big cities and a low trustand cooperation among entrepreneurs and investors. People/Audience: Give examples of your target audience – users of your solution.For example: Students, young entrepreneurs mostly in towns and villages,impact investors,learners SOLUTION MassiveTransformational Purpose:write a goal of your company that is bold,bigand aims to improve the society.E.g.: Sote Hub: Growing startups from rural schools Innovation:In what areas do you innovate? (e.g. product, sales channel,businessmodel,brand…) And how do you innovate? For example: We will allow peopleto register their business ideas online,enter competitions and learn through solvingpractical problems and constantly improvetheir ski lls through interaction with their peers online and with their personal AI assistant
  2. 2. Theory of change: Writewhat will beyour 1) DirectService to your customers and how do you plan to grow into 2) Scaled Service. You can also aimto reach 3) systems change (likeM-Pesa replacingbanks) or also 4) Framework change (e.g. changingthe paradigmfromscarcity to abundance – likewith digital photography – before one photo cost100 Shillingsnowyou can take as many photos as you want with your phone). Example: DirectService: Sote Hub organizes startup pitch competitions and startup idea competitions, trade fairs and business/ITcourses. Scaled Service: Sote Talent aims to create a platform where students and entrepreneurs will providebottom-up learningcontent, get feedback from peers and AI assistants, and create an ecosystem for effective competitions and business cooperation and prediction of future events. Systems change: We aim to create a community similar to those around GitHub and Wikipedia thattransformed how people code or get knowledge Framework change: We want to make equity crowdfundingeasy and abundantand creatingstartups as easy as takinga languagecourseon Duolingo User Story: Write a story aboutyour users’experience - how your users get their needs met. Example: Esther creates a profileatSoteTalent, writes abouther startup idea and team usingEffective Innvation Canvas and connects with team members easily and gets feedback what she needs to learn in order to make her company a success. CAPACITY Mindset/Motivation: Whatis the motivation and interests of your team? Example: We are passionateaboutexponential technologies,digital fabrication and lean startup. We want to make a meaningful contribution to society by decreasingtime and costof l earningand startingcompanies by 100x Skills and Knowledge: What areyour current skills? Examples:coding,social science,creativewriting, digital fabrication Team Culture: Whatare your values and how do you cooperate and a team? We liketransparency,friendship,honestfeedback, mutual trust, growth mindset Growth: Whatare the things that you need to learn or unlearn in order to grow your capacity? Examples:We need to unlearn our current way of typing on computers and learn touch typing with all ten fingers to write faster. We need to learn codingin Python, machine learningand data science. VISIBLE LEARNING Key Metrics:What metrics will you track to see that your approach of getting customers is successful? For example,monthly interviews with potential customers,monthly revenues, monthly number of customers,how many customers loseeach month (churn rate), or how many customers you gained each month divided by the marketing costs for that month (Customer Acquisition Costs) or whatis the customer lifetime value–CLV – a prediction of a net profitfrom your future relationship with a customer. Example: We estimate our CAC to be 1000 Shillings,our Churn Rate to be 7% and CLV to be 10,000 shillings. Traction:What have you done so far and what do you plan to do in 3-6-12 months? For example: We build a prototype webpage, in the next 3 months until 30 June we need to do 50 interviews and iterate our Minimum ViableProduct (MVP) from their feedback, within 6 months we want to gain our first1000 users,and pitch to 10 investors and get 1m shillings investment. Cost structure: What are your fixed and variablecosts per month? For example: Fixed: Software, cloud and app fees and accounting–7,000 a month and salaries50,000 month, and marketing costs 50,000 a month. Revenues: What areyour monthly revenues and what do you plan your revenues to be in 3-6-12 months? Example: Our monthly revenues are 120k and in 6 months we plan to double them to 240k.

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