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Helping clients innovate through open source networks

Helping clients innovate through open source networks. Big Idea Group. BIG Idea Group. Founded in 2000 Network of over 11,000 inventors Licensed over 60 products, about 25 already in the market Clients include: General Mills, Staples, Sunbeam, Thomson, Kraft, etc.

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Helping clients innovate through open source networks

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  1. Helping clients innovate through open source networks Big Idea Group

  2. BIG Idea Group • Founded in 2000 • Network of over 11,000 inventors • Licensed over 60 products, about 25 already in the market • Clients include: General Mills, Staples, Sunbeam, Thomson, Kraft, etc. • Three companies started based upon our work

  3. Innovation is on the mind of every CEO • “50% of all innovation will come from outside our walls.”—A.G. Lafley, CEO P&G • “Innovation is what consumers are looking for.”—Steve Reinemund, CEO PepsiCo • “The only source of profit, the only reason to invest in companies…is their ability to innovate and differentiate.”—Jeffrey Immelt, CEO GE

  4. Other competitive edges disappearing • Manufacturing outsourced to China • Increase of private label brands • Pricing efficiency on the rise (Google, eBids, etc.) • Product lifecycles shortening—everyone always wants to know what’s new • Globalization efficiencies

  5. What is open source innovation? Open teams of best-of-class collaborators coming together around specific innovation opportunities • Flexible • Accountable • Efficient • Productive

  6. Client innovation questions • How do I find "white spaces" for growth? • How can I "open the funnel" and expand my flow of great ideas? • How can I systematically screen and select the best opportunities? • How can I quickly develop concepts into products? • How do I integrate innovative marketing with innovative product development? • How can I build entrepreneurial ventures to exploit innovations? • How can I re-energize brands through innovation? • How can I better manage and monetize my IP assets? • How can I make innovation more systematic?

  7. The business of innovation Senior Management Growth goals and boundaries Structures and processes Metrics and incentives Resource allocation Flawed ideas killed Sustaining: Validate & Execute Disruptive: Test & Adjust 1. Identify areas of opportunity 2. Create discrete ideas in specified areas 3. Screen and classify ideas 4. Take identified ideas forward 5. Formally launch and grow Project Teams

  8. White Space Workshop White Space Field Study pulls together what your organization already knows spots new innovation "fishing holes" by intensive consumer observation and interaction How can I find innovation white space? Great product innovation starts with focusing on unmet or poorly met consumer needs

  9. Idea Hunt Idea Slam Idea Quest Idea Challenge network of 11,000 inventors attacks a white space brief intensive ideation session with internal and external experts and lead users customer innovation contest internal innovation solicitation and recognition program How can I increase my flow of great ideas? Clients want to go beyond traditional R&D and use a mix of external and internal resources

  10. Innovation Seminar Innovation Review Team provides frameworks and processes that teach how to quickly triage opportunities permanent or temporary teams; reviewers can be internal, external, or mix How can I screen & select best ideas? Clients want to quickly sort a long list of innovations to focus on those with highest potential

  11. Marketing Design Physical Design (narrow) Physical Design (broad) marketing, positioning specific issues or one phase comprehensive: visuals, proto, engineering, etc. How can I quickly turn ideas into saleable items? Clients want “wow” products efficiently designed for market success and cost-effective production World-class ID from blue-chip firms & value-oriented offshore resources:

  12. Branding Packaging Design Launch Marketing positioning, naming, brand development packaging, POP, retail experience advertising, promotion, PR, community development How do I integrate innovative marketing & PD? Clients want powerful, coordinated marketing programs that are as innovative as their products We offer comprehensive, world-class marketing communication services:

  13. Venture Services Venture Equity fee-based for equity How can I build ventures to exploit innovations? • Clients want to take ideas to the marketplace in a way that minimizes risk and maximizes return—internal, JV, or external • We help by creating entrepreneurial organizations and templates for running those ventures:

  14. Brand Revitalization Services Brand Revitalization Equity fee-based for equity How can I re-energize brands by innovating? Clients want to invigorate brands for growth without diverting resources or focus We create value for neglected brands by adding world-class innovation and marketing:

  15. Valuation Investments Corporate Finance appraisals, analytics capital fund, sale/license back M&A advisory, IP auctions How can I better manage & monetize my IP? Clients have underutilized intellectual property and underdeveloped IP strategies We offer services focused on protection, monetization strategy, and merchant banking:

  16. Innovation Seminar Innovation Consulting frameworks, process custom consulting How can I make innovation more systematic? Clients want processes and structures to create deep, repeatable innovation capabilities Consulting services focused on practical solutions and immediate results:

  17. Hunt Case Study • Search for innovations to address innovation white space • Open source: Call to BIG’s 10,000+ inventor network for ideas • Ideas processed, evaluated, winnowed • Monetization and development strategy determined • Three months - 75k

  18. Brief • General Mills Snack Group hires BIG to hunt for healthy kids’ snacks • Brief is written • Inventor materials prepped • Hunt publicized

  19. Call for Innovation • 250+ inventors submit over 800 ideas • BIG processes, evaluates, selects best

  20. Idea Triage GMI Internal • 5 concepts targeted • Good fit for existing business processes New Venture • 1 concept incubated as a new business by BIG and partners • Better exploited by small entrepreneurial team

  21. The business of innovation Senior Management Growth goals and boundaries Structures and processes Metrics and incentives Resource allocation Flawed ideas killed Sustaining: Validate & Execute Disruptive: Test & Adjust 1. Identify areas of opportunity 2. Create discrete ideas in specified areas 3. Screen and classify ideas 4. Take identified ideas forward 5. Formally launch and grow Project Teams

  22. Summary • Innovation is more important than ever • BIG/Agency can be your key strategic partner to undertake and coordinate the often complicated, daunting challenge of innovation

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