Innovation Essentials is a collection of adaptive practices, consisting of guides and checklists in the form of digital cards, that help corporations and start-ups form effective collaborative partnerships to develop new business models based on innovative market offerings.
Teams and stakeholders have a clear map of key deliverables between the groups along with a barometer of the health of each project.
Partners can rapidly validate or pivot away from potential business models and market offerings to enable funds to be focused on business models and innovations most likely to succeed.
There are many best practice books on the market but there is no quickly accessible, easy to use online practice guidance for innovation. By producing best practice guidance in the form of easy-to-read and understand digital cards, cross-functional teams (from disparate organizations) can work more collaboratively to achieve desired goals.
Led by Teyi, a consulting company that helps build connections between large companies and startups, the portal consists of eight industry practices created based on extensive research of leading popular practices, and developed and validated by way of a project with Urban ICT Arena and co-funded by Vinnova.
Driven by the report "Corporate Innovation Powered by Startups", Teyi chose to work with Ivar Jacobson International and the open-standard Essence to formalize a consistent method to guide and help accelerate commercial partnerships. The eight practices consist of:
Attracting Innovation Partners
Business Model Innovation
Collaborate to Innovate
Business Hypothesis Validation
Solution Validated Learning
Collaboration Health check
Intellectual Property Strategy
Innovation Essentials will continue to be modified, adapted and improved to meet changing market input and need.
The Innovation Essentials were created using the open standard Essence. It is an universal language that can be applied to build, evolve and share best practices. Evolve and ideate your business models and practices.
Essence provides visibility of all practices enabling teams to focus on the most valuable outcomes and helps users understand where they are and what needs to be addressed.
Help teams balance rapid start-up momentum with getting in place agreements on NDAs, IPR, go-to-market strategies and other commercial and legal agreements.
Rapidly validate or pivot away from potential business models and market offerings to enable funds to be focused on business models and innovations most likely to succeed
The Innovation Essentials provides best practice guidance in a clear and concise manner so teams are assured that they haven't forgotten any elements of their go-to-market plans. Use Innovation Essentials to assess your current status and to help map out where you need to go. By using the Innovation Essentials as a framework, they provide a structured outline to reach group consensus on action needed.