Large organisations are engaging startups in growing numbers, due in part to a realisation that companies have not been built to respond to the accelerating pace of change in a timely manner, and that short of restructuring the entire organisation from the ground up, partnering with startups who are unencumbered by bureaucracy, short-term shareholder demands and employee incentives, is an easier way to tap into emerging technologies, business models and talent.
Coined by Professor Henry Chesbrough, Open Innovation is about creating inflows of knowledge from the external environment and outflows of knowledge to the ecosystem through collaboration. In this article, we compare open innovation and closed innovation, review examples of companies using this platform and analyse the advantages and disadvantages. Here are four ways that your organisation can leverage OI to boost your success rate.
In order to get the most out of a corporate hackathon and generate some quick wins that organisers and innovation champions will be able to use to build a case for subsequent initiatives and further development of ideas, taking the time to consider and prepare the following 12 things can make a world of difference.
In this episode of Fast Fix Friday I talk hackathons, and how, while they are a great tool for bringing teams together to move quickly to build prototypes, are often done in a way that doesn't focus on problem solution fit, unique value proposition or business model.
In this podcast, Sean Qian interviews Collective Campus co-founder Steve Glaveski to dissect what the corporate hackathon is, what the benefits are, how it's broken and how best to approach running one.
Hackathons are a great way to bring together teams with the goal of quickly identifying and solving problems.
Hackathons (or innovation bootcamps) are a great way to bring together teams with the common goal of quickly solving problems, building prototypes and validating market appetite. This not only helps teams test many ideas quickly to find out what works but also saves them by avoiding the trap of committing millions to building the wrong thing.