Game-changing ideas threaten the norm and often risk cannibalising an organisation’s core business. While these are viewed as negatives by more traditional companies, giving new innovations a chance may be exactly what the existing business needs. Testing ideas in an incubator gives teams access to a fast-paced environment, away from the corporate bureaucracy, amongst tech start-ups to increase the likelihood of successful market entry with new products.
Large organisations are built to deliver, not to discover – as such, your organisations processes, policies, systems and values are likely to support execution, not exploration.
Short of redesigning your entire structure or developing parallel processes and systems for innovation, a corporate incubator is a great way to circumvent the structural challenges of innovation at large companies by setting up a sandbox where project teams can come together for a period of weeks to build, test, learn and develop their concepts over a period of weeks, free from the stranglehold of the mothership.
Teams participating in corporate incubators will have their own KPIs, processes, systems, funding and space to do what they have to do, unencumbered by pressures of their business unit or direct reporting lines. They will also have access to world class mentors, education and receive the guidance required to get them from zero to one.
However, while the incubated teams are safe-guarded from the mothership, they should be able to leverage the core business’ networks, domain expertise, resources and distribution channels to test and scale their ideas.
We can help to set up, design and facilitate a corporate incubator program for you which can involve everything from incubator marketing, space development, idea solicitation, evaluation of pitches, selection of teams, provision of education and mentorship and more. Having run startup accelerator programs for large organisations such as Mills Oakley, we know what it takes to facilitate the end-to-end delivery of a program such as this and give you the most bang for your buck on your innovation spend.
Our Approach
1. Understand your objectives
2. Develop the corporate incubator space and process
3. Develop a marketing campaign to solicit ideas
4. Evaluate and co-select teams
5. Provide mentorship and education throughout the program
6. Help get incubated teams from zero to one
7.Provide guidance on how best to integrate promising or validated ideas back into the core business (or on spinning them out should that be the best path of action)
With offices in Singapore and Melbourne, we can provide this service across all of Asia-Pac.
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