To begin, the team outlined three key components of a thriving innovation ecosystem:
- A shift from exploiting to exploring: Companies must focus on transformative innovation—ideas that fundamentally change the game—rather than merely improving efficiency.
- High project volume: A thriving innovation ecosystem involves working on a large number of ideas (around 150 to 200 per year) of varying shapes and sizes.
- Fast testing speed: Companies must be able to test ideas quickly and learn from them, ensuring that they're building based on what they've learned from testing.
The need for structured innovation becomes even more apparent when considering the practical challenges faced by innovation leaders in different settings. For example, in large corporations, there's a need to quickly upskill a large number of people and achieve scale. In smaller businesses, the innovation leader might be trying to innovate in a company where people question the need for innovation.
In both scenarios, having a structured, guided approach to innovation can be a game-changer. This approach involves providing training modules, milestones, and structured workflows to guide teams through the process of innovation: in essence, a toolbox to do and structure their work. This toolbox also includes resources such as an experiment library and business model-based progress mapping to help teams track their progress and learn from their experiences.
One case study highlighted during this discussion was that of an independent coach who wanted to deliver world-class sprints with a high-end client in a short turnaround time. Using the structured innovation program, they were able to start working on two ideas within three days. The coach and the team had access to e-learning modules, workshops, and resources that allowed them to progress quickly and efficiently. They were able to iterate their business model four times in 12 weeks and present a world-class, evidence-based presentation to the project sponsor.
This approach to innovation is not about designing better innovation processes—it's about using proven methods and workflows to focus on where companies can make the biggest difference. It's about enabling companies to become world-class at innovation, regardless of their size or industry. And in today's competitive business landscape, that's an advantage that no company can afford to ignore.
